Apple Hospitality Q2 2021 Earnings Report
Key Takeaways
Apple Hospitality REIT reported a net income of $20.3 million for Q2 2021, a significant improvement from the $(78.2) million loss in Q2 2020. The company achieved an occupancy of 70.7%, ADR of $120.56, and RevPAR of $85.28. Adjusted EBITDAre was approximately $86 million, and MFFO was approximately $68 million.
Achieved occupancy of 71%, ADR of $121, and RevPAR of $85 for the full portfolio of hotels.
Adjusted EBITDAre was approximately $86 million, MFFO was approximately $68 million, and Comparable Hotels Adjusted Hotel EBITDA Margin was approximately 39%.
Successfully completed the opportunistic sale of 20 hotels and are working to redeploy proceeds to further enhance the quality and performance of our portfolio.
Exited the Extended Covenant Waiver Period early, providing greater flexibility to strategically allocate capital.
Apple Hospitality
Apple Hospitality
Forward Guidance
Due to the uncertainties of COVID-19, the company is not issuing operational guidance but is providing the following full year 2021 outlook regarding certain corporate expenses.