Financial Data and Key Metrics Changes - Comparable hotels RevPAR growth was approximately 1% compared to Q3 2023, driven entirely by improvement in rate [8][10] - Third quarter adjusted EBITDAre was $129 million, up approximately 6% compared to Q3 2023, while modified funds from operations was $107 million, up approximately 3% [10][37] - Total revenue for comparable hotels was $378 million for Q3, up approximately 2% year-to-date through September [28] Business Line Data and Key Metrics Changes - Comparable hotels ADR was $163, up more than 1%, and occupancy was 77%, essentially flat compared to Q3 2023 [28] - Total hotel expenses increased year-over-year by 2.7% for Q3, decelerating from previous quarters [34] - Comparable Hotels Adjusted Hotel EBITDA margin was 36.8% for the quarter, down only 60 basis points compared to Q3 2023 [37] Market Data and Key Metrics Changes - Supply-demand dynamics remain favorable, with approximately 54% of hotels not having new upper upscale or upper midscale products under construction within a five-mile radius [11] - Actual rooms under construction within the same radius decreased by 7% year-over-year [11] - October preliminary results showed RevPAR up approximately 4% compared to October 2023 [10] Company Strategy and Development Direction - The company is focused on disciplined capital allocation, optimizing portfolio concentration through strategic dispositions and acquisitions [13][21] - Recent acquisitions have produced strong yields, with the seven hotels acquired since June yielding an unlevered 9% [19] - The company plans to continue investing in capital expenditures, expecting to spend between $75 million and $85 million during 2024 [23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of leisure travel and the continued improvement in business travel demand [25][26] - The operating environment is stable with favorable supply and demand dynamics, positioning the company for continued strong performance [45] - Management anticipates continued growth in midweek occupancy and rates, with a positive outlook for 2025 [54][56] Other Important Information - The company repurchased approximately 1.4 million common shares at an average price of $14.02 per share during Q3 [17] - Total debt outstanding as of September 30, 2024, was approximately $1.5 billion, with a weighted average interest rate of 4.9% [39] - The company has approximately $301 million remaining under its share repurchase program [41] Q&A Session Summary Question: Update on the disconnect between business transient and leisure rates - Management noted that the gap continues to shrink, with weekday ADR up about 6% relative to 2019 and weekend ADR up about 18% [49] Question: Assumptions for November and December RevPAR - Management projected some RevPAR growth for both November and December based on positive booking trends [51] Question: Expectations for 2025 expense growth - Management indicated that current trends are likely to continue into the coming year [52] Question: Excitement for 2025 and changes expected - Management highlighted the resilience of leisure travel and improvements in midweek occupancy as key factors for optimism [54] Question: Midweek occupancy growth potential - Management indicated there is still room for occupancy growth midweek, with 300 to 750 basis points of opportunity relative to 2019 [64] Question: Overall transaction marketplace and interest in acquisitions - Management noted that while there are ample opportunities, sellers remain reluctant to adjust pricing, leading to fewer transactions [70][72] Question: Group business performance and bookings for next year - Management stated that group business has consistently performed well, with no significant fluctuations expected [74] Question: Impact of shorter booking windows on staffing and planning - Management acknowledged that shorter booking windows require close monitoring of staffing and scheduling [78] Question: Capital allocation strategy regarding asset sales - Management expressed intent to be more aggressive in selling assets if the market remains favorable [82]

Core Insights - Apple Hospitality REIT reported revenue of $378.84 million for the quarter ended September 2024, marking a year-over-year increase of 5.8% [1] - The earnings per share (EPS) for the same period was $0.45, compared to $0.26 a year ago [1] - The reported revenue exceeded the Zacks Consensus Estimate of $377.56 million, resulting in a surprise of +0.34% [1] Revenue Breakdown - Room revenue was $346.06 million, slightly above the estimated $344.82 million, reflecting a +5.8% change year-over-year [3] - Other revenue was reported at $16.94 million, below the average estimate of $18.02 million, indicating a -3.5% year-over-year change [3] - Food and beverage revenue reached $15.84 million, surpassing the average estimate of $14.43 million, with a year-over-year increase of +16.7% [3] Earnings Performance - The diluted net earnings per share was $0.23, slightly below the average estimate of $0.25 [3] - The company has not delivered an EPS surprise, as the consensus EPS estimate was also $0.45 [1][3] Stock Performance - Over the past month, shares of Apple Hospitality REIT have returned -3.4%, while the Zacks S&P 500 composite has seen a +0.4% change [4] - The stock currently holds a Zacks Rank 4 (Sell), suggesting potential underperformance compared to the broader market in the near term [4]

Apple Hospitality REIT (APLE) came out with quarterly funds from operations (FFO) of $0.45 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.45 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this hotel-owning real estate investment trust would post FFO of $0.44 per share when it actually produced FFO of $0.50, delivering a surprise of 13.64%.Over the last four quarters, the company has surpassed consensus FFO estima ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _______ TO _______ Commission File Number 001-37389 APPLE HOSPITALITY REIT, INC. (Exact name of registrant as specified in its charter) Virginia 26-1379210 (State or ot ...

Exhibit 99.1 Apple Hospitality REIT Reports Results of Operations for Third Quarter 2024 RICHMOND, Va. (November 4, 2024) – Apple Hospitality REIT, Inc. (NYSE: APLE) (the "Company" or "Apple Hospitality") today announced results of operations for the third quarter ended September 30, 2024. Apple Hospitality REIT, Inc. Selected Statistical and Financial Data As of and For the Three and Nine Months Ended September 30 (Unaudited) (in thousands, except statistical and per share amounts) (1) Three Months Ended N ...

Analyst’s Disclosure: I/we have a beneficial long position in the shares of EPR either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. A Buy, Sell, or Hold rating in this article does not constitute a Buy, Sell, or Hold recommendation. All investors should exercise their own du ...

Jonathan Kitchen The market isn’t cheap. Going into this month, the market traded at 21x forward EPS, 1.2 standard deviations above its 30-year average. If we exclude the pandemic, it’s the most expensive market since the Dot-com bubble. JPMorgan That’s bad news. Historically and theoretically speaking, the higher the valuation, the poorer the returns. Using the data in the chart below, at current valuations, the implied five-year annualized return is expected to be below 5%. JPMorgan The good news is t ...

iridi Foreword This article concentrates on an August 12, 2024, list of 52 Buy & Hold contenders published below. Yields for those maybe buy & hold 52 were all greater than 2.11% in early August. The advantage of focusing on mid-to-large-cap stocks is that these companies tend to be less volatile and also tend to have more resources (e.g., strong management, access to credit, etc.) to maintain their dividend payments over the long-haul. Any collection of stocks is more clearly understood when subjected ...

Apple Hospitality REIT, Inc. (NYSE:APLE) Q2 2024 Earnings Conference Call August 6, 2024 10:00 AM ET Company Participants Kelly Clarke - VP of IR Justin Knight - CEO Liz Perkins - CFO Conference Call Participants Dory Kesten - Wells Fargo Austin Wurschmidt - KeyBanc Capital Markets Jay Kornreich - Wedbush Securities Bryan Maher - B. Riley Securities Jonathan Jenkins - Oppenheimer Daniel Hogan - Baird Ken Billingsley - CompassPoint Operator Greetings, and welcome to the Apple Hospitality REIT Second Quarter ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Shares, no par value APLE New York Stock Exchange FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _______ TO _______ Commission File N ...