Sunstone plans to consolidate the management of its 460-room Hilton Times Square with that of the 460-room Doubletree Guest Suites Times Square, under the management of Highgate Hotels.

The company has also signed an agreement to rebrand the Doubletree Guest Suites Times Square to the Hilton Suites Times Square.

The rebranding is expected to take place following a renovation of the hotel, which the company anticipates will be completed in the second quarter of 2012.