Apple Hospitality Reit Inc Stock Price, News & Analysis

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.

Apple Hospitality REIT (NYSE: APLE) has declared a quarterly cash distribution of $0.01 per common share for Q1 2021. The payment will be made on April 15, 2021, to shareholders record as of March 31, 2021. The company has a portfolio of 233 hotels across 35 states, totaling over 29,800 guest rooms. Their hotels include 104 Marriott, 124 Hilton, 3 Hyatt, and 2 independent hotels, focusing on upscale rooms. The ongoing impacts of COVID-19 continue to pose uncertainties for the REIT's operations.

Apple Hospitality REIT (NYSE: APLE) announced the appointment of Howard Woolley to its Board of Directors, effective March 1, 2021. Woolley's extensive background in public policy and regulatory affairs, particularly during his tenure at Verizon, aligns with the company’s focus on strategic growth. His addition raises the Board size from eight to nine members and enhances its diversity of perspectives. The company also declared the date for its 2021 Annual Meeting of Shareholders, scheduled for May 13, 2021, in Richmond, Virginia.

Apple Hospitality REIT has amended its unsecured debt agreements, extending the waiver period for financial covenants through Q4 2021. Key changes include waiving most financial covenants until Q1 2022, allowing $300 million for acquiring unencumbered assets, and maintaining the unsecured status of its assets. The company reported a $425 million revolving credit line with approximately $161 million outstanding. CFO Liz Perkins emphasized the extension enhances flexibility without raising capital, positioning the company to maximize long-term shareholder value.

Apple Hospitality REIT (APLE) reported significant financial challenges for Q4 and full year 2020 due to the COVID-19 pandemic, with a net loss of $173 million compared to a profit of $171 million in 2019. The company achieved Adjusted EBITDAre of $93 million, down 78.4% year-over-year. Occupancy dropped to 46.5% in Q4 from 72.9% in 2019, and Average Daily Rate (ADR) fell by 25.5%. Despite these challenges, all hotels remain open and cash flow positive, with enhanced cost management measures implemented. The company anticipates gradual recovery in 2021, focusing on domestic leisure travel.

Apple Hospitality REIT, Inc. (NYSE: APLE) has announced plans to report its fourth quarter and full year 2020 financial results after the market closes on February 23, 2021. A conference call will follow on February 24, 2021, at 10:00 a.m. ET for investors to discuss these results. The call can be accessed via telephone or through a live webcast on the company's investor website. A replay will be available from the same day until March 17, 2021.

The company boasts a diverse portfolio of 234 upscale, rooms-focused hotels across 34 states.