Apple Hospitality Q1 2022 Earnings Report
Key Takeaways
Apple Hospitality REIT reported strong first-quarter results for 2022, with occupancy at 67%, ADR at $137.03, and RevPAR at $91.98. The company achieved Adjusted EBITDAre of $78 million and MFFO of $63 million, or $0.28 per share. Positive momentum has continued into April, with preliminary RevPAR exceeding April 2019 levels.
Occupancy of 67%, ADR of $137 and RevPAR of $92 for the portfolio for the first quarter of 2022.
RevPAR for the month of March down less than 2% to March 2019, driven by strong occupancy and the continued rapid recovery in rate, with a nearly 4% improvement in ADR as compared to March 2019.
Preliminary results for our portfolio show RevPAR for the month of April 2022 exceeded April 2019.
Achieved strong bottom-line results with Adjusted EBITDAre of $78 million, Comparable Hotels Adjusted Hotel EBITDA Margin of approximately 34% and MFFO of $63 million, or $0.28 per share, for the quarter.
Apple Hospitality
Apple Hospitality
Forward Guidance
The Company is providing the following full year 2022 outlook regarding certain corporate expenses, which is based on management’s current view and does not take into account any unanticipated developments in its business or changes in its operating environment: