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Sep 30, 2023
Apple Hospitality Q3 2023 Earnings Report
Apple Hospitality REIT's Q3 2023 performance reflected strong operating results, driven by RevPAR growth and strategic asset management.
Key Takeaways
Apple Hospitality REIT reported a solid third quarter in 2023, with Comparable Hotels RevPAR increasing by 3% compared to the same period in 2022. This growth was fueled by improvements in both occupancy and ADR. The Company also continued its strategic portfolio growth with acquisitions and maintained a strong balance sheet.
Comparable Hotels RevPAR increased by 3% compared to the third quarter of 2022.
Comparable Hotels ADR increased by 1% over third quarter 2022.
Comparable Hotels Occupancy increased by 2% compared to third quarter 2022.
The Company acquired four hotels and a parking garage since the beginning of 2023 and has three additional hotels under contract for purchase.
Revenue by Segment
Forward Guidance
The Company updated its operational and financial outlook for 2023. The reduction in the midpoint of the Company's guidance for Net Income and Adjusted EBITDAre is primarily a result of slightly higher than anticipated operating costs.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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