Apple Hospitality Reit Inc Stock Price, News & Analysis

Apple Hospitality REIT, Inc. (NYSE: APLE) has acquired the 157-room Aloft Hotel in downtown Portland, Maine, for $51.2 million, or approximately $326,000 per key. This strategic acquisition aims to enhance the company’s portfolio and increase its presence in the Portland market, which is known for strong leisure and corporate travel demand. The purchase elevates Apple Hospitality's portfolio to 215 hotels with about 28,100 guest rooms across 35 states. The company continues to seek further acquisition opportunities that align with its growth strategy.

Apple Hospitality REIT, Inc. (NYSE: APLE) announced the acquisition of the 130-room Hyatt Place in downtown Greenville, South Carolina, for approximately $30 million, or $231,000 per key. This acquisition enhances Apple Hospitality's portfolio, which now comprises 214 hotels with over 27,900 rooms across 35 states. The Hyatt Place, opened in December 2018, is strategically positioned near local attractions and businesses, with recent performance exceeding portfolio averages in occupancy (79%) and revenue per available room ($121) as of June 2021.

Apple Hospitality REIT, Inc. (NYSE: APLE) has acquired the 178-room AC Hotel by Marriott in Portland, Maine for approximately $66.8 million, equating to about $375,000 per key. This strategic purchase enhances Apple Hospitality's footprint in Portland, a market characterized by diverse demand drivers including leisure and corporate sectors. Following this acquisition, the company's portfolio will expand to 213 hotels with approximately 27,800 guest rooms across 35 states. The hotel reported strong performance metrics, including an 85% occupancy rate and RevPAR of $217 in June 2021.

Apple Hospitality REIT (NYSE: APLE) reported strong Q2 2021 results, with net income of $20,283,000, a 125.9% increase from Q2 2020. Adjusted EBITDAre was approximately $86 million, and Modified Funds from Operations (MFFO) reached $67.7 million, up 381.8%. The company achieved an occupancy rate of 70.7% and an Average Daily Rate (ADR) of $120.56. In July, APLE sold 20 hotels for about $211 million and is under contract for four additional hotels valued at $227 million, signaling a strategic shift to enhance portfolio quality.

Apple Hospitality REIT, Inc. (NYSE: APLE) has declared a quarterly cash distribution of $0.01 per common share for Q2 2021, payable on July 15, 2021, to shareholders of record as of June 30, 2021. The company is a leading publicly traded real estate investment trust with a diverse portfolio of 232 hotels comprising over 29,700 guest rooms across 35 states. It features a substantial presence of Marriott and Hilton brands, vital for its market positioning.

Apple Hospitality REIT, Inc. (NYSE: APLE) plans to report its second quarter 2021 financial results following market closure on August 5, 2021. A conference call to discuss these results will be held at 10:00 a.m. ET on August 6, 2021. Participants can join via telephone or a live webcast from the Company’s Investor Information section. A replay will be available from 1:00 p.m. ET on August 6 to 11:59 p.m. ET on August 27, 2021. Apple Hospitality operates a diverse portfolio of 232 hotels across 35 states, featuring major brands such as Marriott and Hilton.

Apple Hospitality REIT, Inc. (NYSE: APLE) announced the recipients of its 2020 Apple Awards, recognizing hotel associates for their outstanding contributions during a challenging year. CEO Justin Knight highlighted the dedication and adaptability of hotel teams in providing exceptional guest service amidst difficult circumstances. Award winners include Paula Gonzalez, Haiden Johnson, Tom Loughran, Guadalupe Olea, and Serenthia Pettway, who showcased leadership and commitment to guest satisfaction. Apple Hospitality operates 232 hotels across 35 states, focused on upscale and rooms-oriented properties.

Apple Hospitality REIT (NYSE: APLE) reported a net loss of $46.4 million for Q1 2021, a significant decline from the loss of $2.8 million in Q1 2020. Adjusted EBITDAre dropped by 49.2% to $27.3 million. Average Daily Rate (ADR) decreased by 25.2%, and occupancy fell to 55.5%. Despite these challenges, the company noted improved occupancy rates and revenue per available room (RevPAR) in April, reaching approximately 68%. Apple Hospitality's total debt stood at $1.5 billion, with a notable focus on maintaining a robust balance sheet amid the ongoing pandemic.

Apple Hospitality REIT, Inc. (NYSE: APLE) will report its first quarter 2021 financial results on May 6, 2021, after market close. The company will host a conference call on May 7, 2021, at 10:00 a.m. ET, available via phone and webcast. Participants can dial 877-407-9039 (U.S.) or 201-689-8470 (International). A replay will be accessible from 1:00 p.m. ET on the same day until May 28, 2021. Apple Hospitality owns 233 hotels across the U.S., featuring prominent brands such as Marriott and Hilton.