Core Insights - Apple Hospitality REIT, Inc. reported significant growth in net income and operating income for Q4 and full year 2023, with net income increasing by 798.1% year-over-year for Q4 and 22.6% for the full year [2][3][4] - The company experienced a Comparable Hotels RevPAR growth of over 2% for Q4 2023 and 7% for the full year compared to the same periods in 2022, indicating strong demand in both leisure and business travel [3][4] - The company maintained a strong balance sheet with a total debt to total capitalization ratio of approximately 25% as of December 31, 2023, providing financial flexibility for future growth [4][12] Financial Performance - Net income for Q4 2023 was $20.765 million, compared to $2.312 million in Q4 2022, and for the full year, it was $177.489 million, up from $144.805 million in 2022 [2][4] - Operating income for Q4 2023 was $38.910 million, a 122.5% increase from $17.488 million in Q4 2022, and for the full year, it was $247.481 million, up 19.9% from $206.478 million in 2022 [2][4] - Adjusted EBITDAre for Q4 2023 was $90.536 million, a slight increase of 0.9% from $89.714 million in Q4 2022, while for the full year, it was $436.895 million, up 5.8% from $413.115 million in 2022 [2][4] Operational Metrics - Average Daily Rate (ADR) for Q4 2023 was $149.88, a 1.8% increase from $147.30 in Q4 2022, and for the full year, it was $155.76, up 4.3% from $149.36 in 2022 [2][4] - Comparable Hotels Adjusted Hotel EBITDA for Q4 2023 was approximately $103.667 million, down 1.9% from $105.639 million in Q4 2022, while for the full year, it was $500.079 million, an increase of 4.6% from $477.876 million in 2022 [2][4] - Comparable Hotels occupancy for Q4 2023 was 69.7%, essentially flat compared to 69.8% in Q4 2022, and for the full year, it was 74.2%, up 2% from 72.6% in 2022 [2][4] Portfolio Activity - The company acquired six hotels and a parking garage in 2023 for a total purchase price of approximately $289.8 million, with two additional hotels currently under contract for a combined anticipated purchase price of approximately $177.5 million [4][7][8] - In February 2024, the company sold two hotels for a combined gross sales price of approximately $33.5 million, with plans to use a portion of the proceeds for future acquisitions [10][4] - The company invested approximately $77 million in capital expenditures during 2023 and anticipates investing $75 million to $85 million in 2024 for capital improvements [11][4] Shareholder Distributions - The company paid distributions totaling $0.24 per common share for Q4 2023 and $1.04 per common share for the full year, amounting to approximately $238.3 million [16][4] - The current annualized monthly cash distribution of $0.96 per common share represents an annual yield of approximately 6.0% based on the closing stock price of $15.91 on February 20, 2024 [17][4] 2024 Outlook - For 2024, the company anticipates Comparable Hotels RevPAR change guidance between 2.0% and 4.0%, and Comparable Hotels Adjusted Hotel EBITDA Margin guidance between 34.6% and 35.6% [22][4] - The company expects to continue leveraging its portfolio and operational strengths to maximize long-term value for shareholders [3][4]

Exhibit 99.1 Apple Hospitality REIT Reports Results of Operations for Fourth Quarter and Full Year 2023 RICHMOND, Va. (February 22, 2024) – Apple Hospitality REIT, Inc. (NYSE: APLE) (the "Company" or "Apple Hospitality") today announced results of operations for the fourth quarter and full year ended December 31, 2023. Apple Hospitality REIT, Inc. Selected Statistical and Financial Data As of and For the Three Months and Year Ended December 31 (Unaudited) (in thousands, except statistical and per share amou ...

Industry Overview - Hotel revenues have fully recovered from the pandemic, reaching record highs with the highest average daily rate (ADR) and revenue per available room (RevPAR) on record in 2023 [2] - Despite the recovery in hotel revenues, hotel REITs remain over 20% below pre-pandemic levels [2] Leverage and Cyclicality - Leverage amplifies both success and failure, acting as a multiplier during boom and bust cycles [5] - During the pandemic, leverage exacerbated the crash but should have also amplified the recovery, yet hotel REITs did not fully recover [4][5] - The cost of financial distress, triggered by leverage, led to dilutive maneuvers such as equity issuance, property sales, and preferred share conversions to avoid breaching loan covenants [6] - These dilutive actions resulted in permanent earnings dilution and hindered the recovery of FFO/share and AFFO/share for most hotel REITs [7] Apple Hospitality (APLE) Case Study - APLE stands out as an exception, fully recovering in both FFO and market price due to its low leverage entering the pandemic [8] - APLE's debt + preferred to total enterprise value was about 25% pre-pandemic, compared to 40%-60% for most hotel REITs, allowing it to avoid financial distress and dilutive capital raises [9] - APLE maintained its asset base and share count, enabling a clean recovery in AFFO/share as industry revenues rebounded [10] - APLE's RevPAR of $122.91 in 3Q23 is among the lowest in the industry, with properties spread proportionally to GDP across the U S [8] Market Mispricing and Investment Implications - The market appears to be mispricing hotel REITs, with low-leverage APLE trading at 12 3X AFFO while high-leverage Pebblebrook (PEB) trades at 15 5X AFFO [13] - High leverage in cyclical sectors like hotels increases vulnerability during downturns, making low-leverage companies like APLE more attractive [12] - APLE is identified as a clear opportunity in the sector due to its conservative balance sheet and full recovery [14]

RICHMOND, Va.--(BUSINESS WIRE)--Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or “Apple Hospitality”) today announced that its Board of Directors declared a regular monthly cash distribution of $0.08 per common share. The distribution is payable on February 15, 2024, to shareholders of record as of January 31, 2024. Based on the Company’s common stock closing price of $16.16 on January 18, 2024, the annualized distribution of $0.96 per common share represents an annual yield of approximately 5.9 ...

Financial Data and Key Metrics Changes - Comparable hotels total revenue for Q3 2023 was $356 million, up 4% year-over-year, and over $1 billion for the first nine months, up 9% compared to the same periods in 2022 [18] - Comparable hotels RevPAR was $123, a 3% increase over Q3 2022, with ADR of $159, up 1%, and occupancy of 77%, up 2% year-over-year [18] - Adjusted EBITDA for Q3 was approximately $132 million, a 1% improvement year-over-year, with a comparable hotels adjusted hotel EBITDA margin of 37.1%, down 110 basis points from Q3 2022 [24][26] Business Line Data and Key Metrics Changes - Leisure travel remained strong with weekend occupancies at 82%, up 1% compared to Q3 2022, while average weekday occupancies improved to 75%, an increase of 2% year-over-year [19] - The company achieved a comparable hotels adjusted hotel EBITDA margin of 37.1% for Q3, reflecting a focus on cost controls amid inflationary pressures [24] Market Data and Key Metrics Changes - Preliminary results for October indicated comparable hotels occupancy at 78%, with continued growth in ADR [6] - The company noted that nearly half of its hotels do not have new supply under construction within a 5-mile radius, allowing for potential benefits from incremental demand [15] Company Strategy and Development Direction - The company has acquired four hotels since the beginning of the year and has three additional hotels under contract, actively pursuing further opportunities [8][13] - The strategy focuses on maintaining a diversified portfolio of high-quality, rooms-focused hotels with low leverage, positioning the company to capitalize on market opportunities [7][16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the trajectory of the industry and the company's portfolio, citing favorable travel trends and limited near-term supply growth [15][31] - The company has adjusted its annual guidance to reflect strong performance through the first nine months and preliminary results for October, expecting RevPAR growth between 5.5% and 7.5% for the year [29][30] Other Important Information - The company paid distributions totaling $0.24 per share during the quarter, representing an annual yield of approximately 5.7% based on the closing stock price [14] - The balance sheet remains strong with total outstanding debt of $1.3 billion, approximately 3.1 times trailing 12-month EBITDA, and a weighted average interest rate of 4.3% [26][27] Q&A Session Summary Question: Can you help us understand the revised guidance for hotel EBITDA margin change? - The revised guidance assumes a 50 basis point change for the existing comparable hotels, with a 30 basis point benefit from new acquisitions [34][35] Question: What is the expectation for hotel EBITDA contribution from acquisitions set to close this year? - The annualized contribution from new properties is estimated to be around $16 million [42] Question: How do you view the market for larger transactions and troubled refinancing portfolios? - The company is active in underwriting potential acquisitions, focusing on individual assets and small to medium-sized portfolios, with expectations for continued opportunities due to financing issues in the market [45][46] Question: How much of your occupancy is booked in advance for the last two months of the year? - Typically, about 50% of occupancy is on the books as the month begins, with the remaining realized in the month [68] Question: What is the company's view on permanent financing and current market pricing? - The company balances fixed versus floating rates, currently being about 20% variable, and has lower borrowing costs compared to competitors [76][78] Question: How do you see leisure-focused markets stabilizing as we enter 2024? - The company remains bullish about long-term prospects for leisure markets, expecting stabilization and growth from pre-pandemic levels [80][82]

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, 2023 ☐ 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) (State or other jurisdiction of ...

Apple Hospitality REIT, Inc. (NYSE:APLE) Q2 2023 Earnings Conference Call August 4, 2023 9:00 AM ET Company Participants Kelly Clarke - VP, IR Justin Knight - CEO Liz Perkins - CFO Conference Call Participants Austin Wurschmidt - KeyBanc Capital Markets Dori Kesten - Wells Fargo Securities Tyler Batory - Oppenheimer Tyler Batory - Oppenheimer & Co. Inc. Anthony Powell - Barclays Michael Bellisario - Robert W. Baird Chris Darling - Green Street Operator Greetings and welcome to the Apple Hospitality REIT's S ...

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, 2023 ☐ 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 ...

Apple Hospitality REIT, Inc. (NYSE:APLE) Q1 2023 Earnings Conference Call May 3, 2023 10:00 AM ET Company Participants Kelly Clarke - VP, IR Justin Knight - CEO Liz Perkins - CFO Conference Call Participants Austin Wurschmidt - KeyBanc Capital Markets Bryan Maher - B. Riley Securities Dori Kesten - Wells Fargo Tyler Batory - Oppenheimer Anthony Palo - Barclays Dany Asad - Bank of America Michael Bellisario - Baird Chris Darling - Green Street Operator Greetings and welcome to the Apple Hospitality REIT’s Ea ...

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 March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM _______ TO _______ Commission File ...