Irvine-based Sunstone Hotel Investors Inc. (NYSE: SHO) today named Chief Financial Officer Bryan Giglia as its new chief executive.
Giglia, who joined the company in 2004, replaces previous interim CEO Douglas Pasquale, who will become executive chairman through August 2022.
Chief Investment Officer Robert Springer added the title of president as part of the promotions. Aaron Reyes, who joined in 2016, replaces Giglia as CFO.
“As we emerge from the pandemic, our portfolio is among the best positioned to capitalize on the recovery in corporate and group travel demand and our balance sheet provides ample capacity to grow per share earnings,” Giglia said in a statement.
The company fell 3.3% during midday trading to $10.22 with a market cap of $2.3 billion, and ranks No. 22 on the Business Journal’s list of public companies as ranked by market cap.