Apple Hospitality REIT(US:APLE)2021-05-10 20:10Company Profile & Investment Strategy - Apple Hospitality REIT owns 232 hotels [6] with 29,753 guest rooms [6], primarily rooms-focused [6] - The company has a portfolio of hotels associated with 13 brands [6] and managed by 16 management companies [6] - The portfolio is geographically diversified across 35 states [6] and 88 markets [6] - The average effective age of the hotels is 5 years [6], while the average TripAdvisor rating is 4.3 [6] - The company's net total debt to total capitalization is 32% [6], and it has 200 unencumbered hotels [6] Portfolio & Performance - Extended Stay represents 32% of APLE's portfolio [23], Suite Product 23% [23], Other Select Service 43% [23], and Full Service 2% [23] - The company achieved cost savings by reducing total hotel expense by 45% in Q2 2020 [44], 43% in Q3 2020 [44], 37% in Q4 2020 [44], and Q1 2021 [44] compared to the same quarters in 2019 [44] - The company's expense reduction ratio was 0.77 in Q1 2021 [44], meaning that for every 1% decline in total revenue, total hotel expense decreased by 0.77% [44] Financial Position & Strategy - The company aims for an expense reduction ratio target of 0.70 – 0.75 in 2021 [45] - In 2020, the company completed acquisitions of hotels for a total of $111.3 million [57] and dispositions for $55.3 million [57] - In Q1 2021, RevPAR was $55.09 [89], Total Revenue was $158.713 million [89], and Adjusted Hotel EBITDA was $35.427 million [89]