Financial Data and Key Metrics Changes - Comparable Hotels total revenue for Q2 2024 was $387 million, up 3% year-over-year, and $718 million year-to-date, up 2% compared to the same period in 2023 [20] - Comparable Hotels RevPAR for the quarter was $130, up 2.5%, with ADR at $163, also up slightly, and occupancy at 80%, an increase of 2% year-over-year [20][21] - Adjusted EBITDAre for the quarter was $141 million, up 9% year-over-year, and modified funds from operations (MFFO) was $121 million, also up 9% compared to the same period in 2023 [28] Business Line Data and Key Metrics Changes - Comparable Hotels adjusted hotel EBITDA margin was 39.1% for the quarter, down 50 basis points year-over-year [27] - Total hotel expenses increased by 3.5% year-over-year, decelerating from 4.2% in Q1 2024 [24] - Payroll per-occupied room was $38, up 3.4% year-over-year, but growth rate decelerated compared to Q1 [25][26] Market Data and Key Metrics Changes - Approximately 55% of hotels had no new upper upscale or upper midscale products under construction within a five-mile radius, indicating limited new supply [18] - Weekend occupancy increased by 2.3% year-over-year during Q2, while weekday occupancy also saw a similar increase [22] - The strongest rate growth was observed on Monday nights, with occupancy reaching 86% during the quarter [23] Company Strategy and Development Direction - The company continues to focus on maximizing long-term value for shareholders through disciplined capital allocation, including acquisitions and share repurchases [15][14] - Recent acquisitions have enhanced the portfolio, with seven hotels acquired since June of the previous year yielding approximately 9% after capital improvements [11] - The company is actively evaluating acquisition opportunities while monitoring the performance of existing hotels for potential disposals [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the portfolio and the ability to benefit from incremental demand due to limited new supply [18][19] - The updated guidance for 2024 reflects a decrease in net income expectations and a modest decline in RevPAR growth, primarily due to increased price sensitivity in leisure demand [31][34] - Despite challenges, management remains optimistic about the operating fundamentals and the potential for continued strong performance [35] Other Important Information - The company repurchased approximately 1.6 million shares at an average price of $14.29 per share, totaling around $23 million [14][31] - The company anticipates spending between $75 million and $85 million on capital expenditures in 2024, focusing on renovations at approximately 20 hotels [17] Q&A Session Summary Question: What is the current expectation for the spread between business transient and leisure rates? - Management noted that the spread is still behind 2019 levels, with a reversal in trends observed post-pandemic, but there is potential for improvement [39] Question: Will there be changes to the current dividend level? - Management confirmed that there is adequate coverage for the current dividend level and no changes are anticipated [42] Question: Are there potential acquisitions on hold due to stock price? - Management indicated that they are underwriting many deals but are cautious due to the current trading environment, with sellers generally holding assets rather than adjusting prices [44] Question: What needs to happen for additional rate upside? - Management expressed confidence in the booking pace and noted that negotiations for corporate accounts will soon begin, which could lead to favorable pricing [49] Question: Can you provide insights on the performance of the New York property? - Management discussed ongoing legal issues with LuxUrban and the conservative accounting approach taken regarding potential payments [87][90]

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 ...

Exhibit 99.1 Apple Hospitality REIT Reports Results of Operations for Second Quarter 2024 RICHMOND, Va. (August 5, 2024) – Apple Hospitality REIT, Inc. (NYSE: APLE) (the "Company" or "Apple Hospitality") today announced results of operations for the second quarter ended June 30, 2024. Apple Hospitality REIT, Inc. Selected Statistical and Financial Data As of and For the Three and Six Months Ended June 30 (Unaudited) (in thousands, except statistical and per share amounts) (1) Three Months Ended Six Months E ...

Calendar and piggy bank on yellow background.gettyLet’s talk about monthly dividend payers today because, well, why waste our valuable time with stocks that only pay quarterly?I selected five for our review. We’re talking sixty dividend payments per year from this group. The most generous stock dishes an elite 8.6% annually. (The “laggard” yields a respectable 6.5%.)Why don’t more companies pay monthly? The answer is predictable and disappointing.Wall Street runs on a quarterly system. US-listed companies a ...

Monthly dividend stocks are attractive for income investors who are looking for more frequent payouts. Most stocks that pay dividends do so on a quarterly or semi-annual schedule.But monthly dividend stocks pay shareholders each month, for 12 payments per year.Many of these monthly dividend stocks offer high yields. This article will discuss three of the top high-yielding monthly dividend stocks today.Main Street Capital (MAIN)Source: Piotr Swat / ShutterstockMain Street Capital is a business development co ...

PM Images Due to the sell-off of 2022 and 2023, REIT yields are higher than usual right now, despite the rally off the October 2023 low. If the fed cuts rates in September as anticipated, REIT prices will probably rise. In fact, they have been trending generally upward for the past 3 months. VNQ price movement (Seeking Alpha Premium) So this may be a good time to go shopping for a higher yield than you might ordinarily trust. The problem, of course, is that some high-yielding REITs are actually mouset ...

If you’re feeling uncertain about the market’s direction, you’re not alone. Despite positive economic and stock market indicators suggesting renewed financial strength, the sentiment on the ground often tells a different story. With that in mind, when finding smart stocks to buy, it’s important to remain grounded in solid investment principles rather than purely emotional reactions.Finding smart stocks to buy now is a challenge amid this uncertainty. Questions linger: Have you missed the boat on Nvidia (NAS ...

Apple Hospitality REIT (APLE) recently announced the opening and strategic acquisition of the Embassy Suites by Hilton Madison Downtown, marking a significant expansion for the company. With a focus on expanding its portfolio and enhancing shareholder value, Apple Hospitality's move aligns with its commitment to growth and adaptability in the dynamic hospitality market.The acquisition of the 262-room Embassy Suites by Hilton Madison Downtown was finalized at approximately $79.5 million, reflecting a price o ...

You aren’t alone if you’re nervous about where markets are going. Though economic and stock news alike points toward renewed national financial and monetary strength, on-the-ground vibes seem to negate the apparent facts. And, though we can’t always pick stocks to buy now on a vibes-based investment thesis, it’s important to keep the overall uneasy consumer sentiment in mind even as the stock market hits new all-time highs.That’s why finding stocks to buy now isn’t easy – did you miss the boat on Nvidia (NA ...

Dragon Claws By reading the title of this article, I bet that for the majority of the audience, the first immediate thing that comes into their minds is either the concentration or low growth risks, which come along with having 50% of the exposure tilted towards equity REITs. The truth is that I fully agree that these risks are present and most probably by allocating into more growth biased stocks and diversifying more into the other equity segments, the overall risk-adjusted return profile for the port ...