Tarsadia Capital, a 3.4% financial curiosity holder of Sunstone Resort (SHO) Buyers, despatched a letter to the board of administrators of Sunstone calling on the Firm to instantly begin a two-track course of to pursue a sale of your entire Firm or a plan of sale and liquidation of the Firm’s belongings, to protect and maximize worth for shareholders. “Sunstone’s present trajectory as a subscale lodging REIT is solely not tenable. The Board wants fast refreshment and should begin a strong strategic options course of to unlock worth for shareholders. As a long-term and engaged shareholder, Tarsadia Capital has inspired the Board to behave with urgency on the Firm’s persistent undervaluation within the public markets, however to no avail. If the Board wishes to proceed with the established order, we’re ready to make the case for change on to our fellow shareholders,” mentioned Michael Ching, Tarsadia Capital.
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