Apple Hospitality REIT reports Q1 MFFO 32c, consensus 31c

Reports Q1 revenue $327.7M, consensus $328.2M. Justin Knight, Chief Executive Officer of Apple Hospitality, commented, “Although a variety of factors weighed on hotel performance during the first quarter of this year and Comparable Hotels RevPAR modestly declined 0.5% compared to the first quarter of 2024, demand remained steady across our portfolio, supporting continued strength in absolute occupancy and rate. We entered 2025 anticipating the potential for a broad range of possible macroeconomic scenarios, as with any change in administration, and were prepared to adjust operational and capital allocation priorities accordingly. In recent months, our corporate team, together with our third-party management companies, has been working to optimize the mix of business at our hotels in response to changes in government-related demand in some of our markets and to maximize profitability in the current environment.”