Sunstone Completes Purchase of Holiday Inn

Sunstone Hotel Investors Inc., a real estate investment trust that owns upscale and mid-price hotels, said Thursday that it has completed its $18-million purchase of a 289-room, full-service Holiday Inn in La Mirada.

Sunstone’s acquisition of the eight-story hotel amounts to $62,000 per room. The company owns 28 hotels that have a total of 4,212 rooms.