Apple Hospitality REIT reports Q3 FFO 42c, consensus 40c

Justin Knight, Chief Executive Officer of Apple Hospitality, commented, “Fundamentals for our portfolio remained strong during the third quarter despite ongoing uncertainty broadly impacting the operating backdrop. For the quarter, we achieved Comparable Hotels Occupancy of 76%, down 1.2%, ADR of $163, down only 0.6%, and RevPAR of $124, down 1.8%, as compared to the third quarter 2024. Together with our management companies, our asset and revenue management teams have done a tremendous job tactically shifting the mix of business at our hotels to strengthen market share and adjust to changing demand trends driven in large part by the pullback in government travel. The hotels we own operate efficiently, produce strong cash flow, provide our guests with a compelling value proposition and appeal to a broad set of business and leisure customers.”