Apple Hospitality REIT Inc

APLE

Equity

ISIN US03784Y2000 / Valor 28266921

New York Stock Exchange, Inc (2024-12-23)

USD 15.61%

Apple Hospitality REIT Inc
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About company

Apple Hospitality REIT Inc (NYSE: APLE) is a publicly traded real estate investment trust that owns a large and varied portfolio of upscale, rooms-focused hotels in the United States. With 224 hotels and approximately 29,900 guest rooms spread across 87 markets in 37 states and the District of Columbia, the company's portfolio includes properties under industry-leading brands such as Marriott, Hilton, and Hyatt.

Summarized from source with an LLMView SourceSector: Finance

Revenue Growth

Apple Hospitality REIT Inc. reported a significant increase in revenue for the second quarter of 2023. The company saw a 12% year-over-year growth, driven by higher occupancy rates and increased average daily rates across its portfolio of hotels.

Net Income

For Q2 2023, Apple Hospitality REIT Inc. achieved a net income of $45 million, marking a substantial improvement from the $30 million reported in the same quarter of the previous year. This increase is attributed to effective cost management and enhanced operational efficiencies.

Adjusted EBITDA

Apple Hospitality REIT Inc. reported an adjusted EBITDA of $85 million for the second quarter of 2023, reflecting a 15% increase compared to Q2 2022. The growth in adjusted EBITDA underscores the company's strong operational performance and strategic initiatives.

Dividends

In Q2 2023, Apple Hospitality REIT Inc. declared a monthly cash distribution of $0.10 per common share. This consistent dividend payout highlights the company's commitment to returning value to its shareholders.

Future Outlook

Looking ahead, Apple Hospitality REIT Inc. remains optimistic about its growth prospects for the remainder of 2023. The company anticipates continued revenue growth and profitability, supported by a robust travel demand and strategic investments in its hotel portfolio.

Summarized from source with an LLMView Source

Key figures

-7.74%1Y

-3.70%3Y

-2.98%5Y

Performance

20.9%1Y

26.8%3Y

45.2%5Y

Volatility