olivLaw · US equity research
Apple Hospitality REIT, Inc. APLE
Real Estate Investment Trusts · SIC 6798 · Vertical: Real Estate Investment Trusts (SIC 6798)
Apple Hospitality REIT owns and operates a portfolio of upscale and upper midscale hotels in the United States, almost all under Marriott or Hilton brands. The company reported a recovery in RevPAR in the second quarter of 2026, in a context where travel demand appears to be strengthening, although 2025 results were slightly below 2024. The number of owned hotels fell from 217 to 216 by June 2026.
At the close of 04 Nov 2026, Apple Hospitality REIT, Inc. (APLE) stock was 18.82 USD (+0.91% on the day), with market capitalisation 4.4 bn USD, P/E 25.6 on diluted EPS of 0.74 USD over the last 12 months, dividend yield 5.10%, beta 0.97, 52-week range 11.25–18.83 USD. Latest reported quarter (Q2 2026): revenue of 402.6 m USD (+4.7% YoY), net income of 67.1 m USD (+5.4% YoY), diluted EPS 0.28 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 75.2
- overbought (≥ 70)
- Bollinger (20, 2)
- 15.79 – 19.61
- in the upper half of the band · %B 0.79 · band width 21.6%
- SMA 50 / 200
- 16.63 / 14.75
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.66 / 0.60
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +14.8% | −2.0% | +16.7 pp | — |
| 3 months | +13.7% | −2.2% | +15.9 pp | — |
| 6 months | +34.3% | +4.3% | +30.1 pp | — |
| Year to date | +58.8% | +10.6% | +48.3 pp | — |
| 1 year | +68.5% | +10.5% | +58.0 pp | +3.3% |
| 3 years | +11.6% | +73.7% | −62.0 pp | +19.0% |
| 5 years | +12.9% | +61.7% | −48.8 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 378.8 m | 333.0 m | 327.7 m | 384.4 m | 373.9 m | 326.4 m | 337.7 m | 402.6 m |
| Cost of revenue | 219.9 m | 204.4 m | 199.9 m | 220.6 m | 222.0 m | 204.9 m | 206.9 m | 227.6 m |
| Operating income | 77.7 m | 49.9 m | 50.9 m | 84.9 m | 72.5 m | 49.6 m | 48.0 m | 88.2 m |
| Depreciation & amortisation | 48.1 m | 47.9 m | 47.9 m | 48.0 m | 48.1 m | 48.6 m | 49.5 m | 49.7 m |
| Pre-tax income | 56.5 m | 30.1 m | 31.5 m | 63.9 m | 51.1 m | 29.9 m | 27.9 m | 67.3 m |
| Income tax | 243.0 k | 234.0 k | 241.0 k | 240.0 k | 242.0 k | 236.0 k | 242.0 k | 260.0 k |
| Net income | 56.3 m | 29.8 m | 31.2 m | 63.6 m | 50.9 m | 29.6 m | 27.7 m | 67.1 m |
| Diluted EPS | 0.23 | 0.12 ≈ | 0.13 | 0.27 | 0.21 | 0.13 ≈ | 0.12 | 0.28 |
| Operating cash flow | 128.2 m ≈ | 95.2 m | 49.1 m | 108.8 m ≈ | 126.4 m ≈ | 85.8 m | 48.9 m | 125.0 m ≈ |
| Capex | 15.1 m ≈ | 30.6 m | 19.6 m | 12.6 m ≈ | 17.4 m ≈ | 38.6 m | 27.5 m | 12.3 m ≈ |
| Dividends paid | 57.7 m | 57.8 m | 69.6 m | 57.1 m | 56.8 m | 56.9 m | 56.6 m | 56.6 m |
| Share repurchases | 19.2 m ≈ | 0 | 26.3 m | 16.9 m ≈ | 2.0 m ≈ | 13.1 m | 0 | 0 ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 89 percentile of its own 18-quarter history (min 15.5, median 19.7, max 48.8; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.3 bn | 1.3 bn | 601.9 m | 933.9 m | 1.2 bn | 1.3 bn | 1.4 bn | 1.4 bn |
| Revenue YoY | +2.6% | −0.3% | −52.5% | +55.2% | +32.6% | +8.5% | +6.5% | −1.3% |
| Net income | 206.1 m | 171.9 m | -173.2 m | 18.8 m | 144.8 m | 177.5 m | 214.1 m | 175.4 m |
| Net income YoY | +12.9% | −16.6% | −200.8% | unavailable | +669.1% | +22.6% | +20.6% | −18.1% |
| Diluted EPS | unavailable | unavailable | -0.77 | 0.08 | 0.63 | 0.77 | 0.89 | 0.74 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | +687.5% | +22.2% | +15.6% | −16.9% |
| net % | 16.2% | 13.6% | -28.8% | 2.0% | 11.7% | 13.2% | 15.0% | 12.4% |
| Free cash flow | unavailable | unavailable | unavailable | unavailable | unavailable | 322.2 m | 327.1 m | 282.0 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 8.5 m USD
- Financial debt
- 1.5 bn USD
- Net debt
- 1.5 bn USD
- Equity
- 3.1 bn USD
- Total assets
- 4.9 bn USD
- Debt / equity
- 0.49x
- Current ratio
- unavailable
- ROE
- 5.5%
- ROA
- 3.6%
- FCF margin
- 20.0%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 601.9 m | 933.9 m | 1.2 bn | 1.3 bn | 1.4 bn | 1.4 bn | SEC (XBRL)· 23 Feb 2026verified |
| Cost of revenue | 402.3 m | 542.2 m | 710.5 m | 780.7 m | 837.9 m | 847.3 m | SEC (XBRL)· 23 Feb 2026verified |
| Gross profit | 199.6 m ≈ | 391.7 m ≈ | 527.9 m ≈ | 563.1 m ≈ | 593.6 m ≈ | 565.1 m ≈ | SEC (XBRL)· 23 Feb 2026derived |
| Operating income | -102.0 m | 87.0 m | 206.5 m | 247.5 m | 292.8 m | 257.8 m | SEC (XBRL)· 23 Feb 2026verified |
| Depreciation & amortisation | 199.8 m | 184.5 m | 181.7 m | 183.2 m | 190.6 m | 192.6 m | SEC (XBRL)· 23 Feb 2026verified |
| EBITDA | 97.7 m ≈ | 271.5 m ≈ | 388.2 m ≈ | 430.7 m ≈ | 483.4 m ≈ | 450.4 m ≈ | SEC (XBRL)· 23 Feb 2026derived |
| Pre-tax income | -172.9 m | 19.3 m | 146.7 m | 178.6 m | 215.0 m | 176.3 m | SEC (XBRL)· 23 Feb 2026verified |
| Income tax | 332.0 k | 468.0 k | 1.9 m | 1.1 m | 947.0 k | 959.0 k | SEC (XBRL)· 23 Feb 2026verified |
| Net income | -173.2 m | 18.8 m | 144.8 m | 177.5 m | 214.1 m | 175.4 m | SEC (XBRL)· 23 Feb 2026verified |
| Diluted EPS | -0.77 | 0.08 | 0.63 | 0.77 | 0.89 | 0.74 | SEC (XBRL)· 23 Feb 2026verified |
| Weighted average diluted shares | 223.5 m | 226.4 m | 228.9 m | 229.3 m | 241.3 m | 237.8 m | SEC (XBRL)· 23 Feb 2026verified |
| Dividend per share | 0.20 | 0.04 | 0.76 | 1.01 | 1.01 | 0.96 | SEC (XBRL)· 23 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 5.6 m | 3.3 m | 4.1 m | 10.3 m | 10.3 m | 8.5 m | SEC (XBRL)· 23 Feb 2026verified |
| Total assets | 4.8 bn | 4.8 bn | 4.8 bn | 4.9 bn | 5.0 bn | 4.9 bn | SEC (XBRL)· 23 Feb 2026verified |
| Long-term debt | 1.5 bn | 1.4 bn | 1.4 bn | 1.4 bn | 1.5 bn | 1.5 bn | SEC (XBRL)· 23 Feb 2026verified |
| Total liabilities | 1.8 bn | 1.6 bn | 1.6 bn | 1.6 bn | 1.7 bn | 1.8 bn | SEC (XBRL)· 23 Feb 2026verified |
| Equity | 3.0 bn † | 3.1 bn † | 3.2 bn † | 3.3 bn † | 3.3 bn † | 3.1 bn † | SEC (XBRL)· 23 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 26.7 m | 217.6 m | 368.4 m | 399.0 m | 405.4 m | 370.2 m | SEC (XBRL)· 23 Feb 2026verified |
| Capex | — | — | — | 76.8 m | 78.3 m | 88.2 m | SEC (XBRL)· 23 Feb 2026verified |
| Free cash flow | — | — | — | 322.2 m ≈ | 327.1 m ≈ | 282.0 m ≈ | SEC (XBRL)· 23 Feb 2026derived |
| Investing cash flow | -82.3 m | -150.7 m | -135.9 m | -364.6 m | -215.7 m | -135.4 m | SEC (XBRL)· 23 Feb 2026verified |
| Financing cash flow | 55.2 m | -61.3 m | -229.0 m | -34.3 m | -189.2 m | -239.5 m | SEC (XBRL)· 23 Feb 2026verified |
| Dividends paid | 67.4 m | 6.8 m | 139.5 m | 238.3 m | 243.7 m | 240.4 m | SEC (XBRL)· 23 Feb 2026verified |
| Share repurchases | 14.3 m | — | 2.7 m | 6.9 m | 34.7 m | 58.3 m | SEC (XBRL)· 23 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Market and valuation
9 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 52 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 4.4 bn USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet75
- Valuation66
- Quality18
- Growth45
- Returns46
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 12.62 – 37.27 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- Net asset value (NAV)unavailable · input data missing
- Dividend discount (DDM)12.62 – 16.97 (Mid 14.47)
- Peers: P/B14.45 – 37.27 (Mid 25.20)32 companies used · median multiple 1.9x · quartiles 1.1x – 2.8xAKR, ALX, BRX, CHCT, COLD, DLR, DOC, EPR, ESS, EXR, FPI, FRT, GNL, HST, IRT, JBGS, KIM, LXP, NHI, O, PLD, PSA, RLJ, SELF, SITC, SLG, STAG, UDR, VICI, VMRK, VTR, WELL
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 52/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROE · Quality | 5.5% | 37 (vs peers) | 8% |
| EBITDA margin · Quality | 31.5% | 4 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | 4.5% | 45 (on a fixed band) | 10% |
| Net debt / EBITDA · Balance sheet | 3.3x | 75 (vs peers) | 18% |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| P/B · Valuation | 1.4x | 65 (vs peers) | 23% |
| P/E (TTM) · Valuation | 25.6x | 68 (vs peers) | 10% |
| Dividend yield · Returns | 5.1% | 59 (vs peers) | 18% |
| Payout ratio (EPS) · Returns | 130.6% | 0 (on a fixed band) | 5% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial75/100 · 1/2 factors with a value
- Growth45/100 · 1/1 factors with a value
- Quality18/100 · 2/2 factors with a value
- Returns46/100 · 2/2 factors with a value
- Valuation66/100 · 2/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
APPLE HOSPITALITY REIT, INC. (APLE). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 1.4 bn USD in 2025; YoY growth -1.3%; net margin 12.2%; ROE 5.5%; net debt/EBITDA 3.3x.
The estimated value range is 13.53–27.12 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 19.83 USD, the price of 18.82 USD leaves a potential of 5.4% (value / price − 1) and a margin of safety of 5.1% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 52/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net debt / EBITDA: 3.3x
What contradicts it
- EBITDA margin: 31.5%
- Payout ratio (EPS): 130.6%
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): Interest coverage.
Versus the vertical median
Real Estate Investment Trusts (SIC 6798) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| WELLWelltower Inc. | 176.9 bn | 103.2 | 4.0% | 12.7% | +35.6% | +16% / +171% |
| PLDPrologis, Inc. | 120.3 bn | 32.5 | 7.1% | 42.5% | +7.2% | +0% / +12% |
| EQIXEquinix Inc | 100.4 bn | 60.9 | 11.5% | 16.4% | +5.4% | +35% / +24% |
| AMTAmerican Tower Corporation | 86.9 bn | 26.3 | 90.6% | 30.7% | +5.1% | +3% / −10% |
| DLRDigital Realty Trust, Inc. | 63.3 bn | 47.1 | 6.2% | 21.7% | +10.0% | +13% / +30% |
| PSAPublic Storage | 62.3 bn | 33.9 | 16.0% | 37.8% | +2.7% | +21% / +29% |
| ORealty Income Corporation | 54.7 bn | 39.6 | 3.6% | 22.9% | +9.1% | −0% / +7% |
| VTRVentas, Inc. | 46.0 bn | 163.7 | 1.9% | 4.0% | +18.5% | +8% / +90% |
| CCICrown Castle Inc. | 36.8 bn | 44.0 | — | 20.7% | −4.4% | −5% / −26% |
| IRMIron Mountain Inc | 34.7 bn | 82.6 | — | 5.7% | +12.2% | +35% / +82% |
| EXRExtra Space Storage Inc. | 32.6 bn | 31.8 | 7.9% | 29.9% | +3.7% | +17% / +20% |
| VICIVICI Properties Inc. | 26.9 bn | 11.2 | 8.3% | 56.5% | +4.1% | −15% / −18% |
| VMRKVivmark Residential | 23.3 bn | 27.2 | 8.1% | — | +4.8% | +0% / +9% |
| SBACSba Communications Corporation | 19.6 bn | 19.9 | — | 34.5% | +5.1% | −5% / −25% |
| HSTHost Hotels & Resorts, Inc. | 17.7 bn | 17.2 | 15.8% | 16.5% | +7.6% | +46% / +48% |
| ESSEssex Property Trust, Inc. | 17.0 bn | 40.7 | 8.0% | 22.7% | +6.4% | +0% / +24% |
| KIMKimco Realty Corporation | 16.8 bn | 27.6 | 5.8% | 27.8% | +5.1% | +21% / +29% |
| DOCHealthpeak Properties, Inc. | 13.9 bn | 37.1 | 4.9% | 12.3% | +4.5% | +10% / +16% |
| UDRUDR, Inc. | 11.8 bn | 17.5 | 21.8% | 40.8% | +2.4% | +2% / +11% |
| FRTFederal Realty Investment Trust | 9.9 bn | 19.9 | 15.6% | 38.6% | +6.4% | +16% / +20% |
| BRXBrixmor Property Group Inc. | 9.3 bn | 22.0 | 14.2% | 30.0% | +6.7% | +16% / +40% |
| STAGSTAG Industrial, Inc. | 7.3 bn | 27.1 | 7.6% | 29.9% | +10.1% | −4% / +6% |
| EPREpr Properties | 4.7 bn | 16.8 | 12.7% | 38.8% | +2.9% | +16% / +36% |
| APLEApple Hospitality REIT, Inc. | 4.4 bn | 25.6 | 5.5% | 12.2% | −1.3% | +68% / +12% |
| COLDAmericold Realty Trust, Inc. | 4.3 bn | — | -16.5% | -17.4% | −2.4% | +40% / −46% |
1- and 3-year price returns: for APLE from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 11.23 Total return -37% · Per year -37% | 19.85 Total return 10% · Per year 10% | 29.91 Total return 64% · Per year 64% |
| 3 years | 10.89 Total return -33% · Per year -12% | 21.67 Total return 28% · Per year 9% | 35.84 Total return 107% · Per year 27% |
| 5 years | 10.57 Total return -29% · Per year -7% | 23.66 Total return 48% · Per year 8% | 42.96 Total return 158% · Per year 21% |
- Exit P/E± 5.42
- Net margin± 3.79
- Annual revenue growth± 3.11
- Annual dilution± 0.32
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Apple Hospitality REIT owns and operates a portfolio of upscale and upper midscale hotels in the United States, almost all under Marriott or Hilton brands. The company reported a recovery in RevPAR in the second quarter of 2026, in a context where travel demand appears to be strengthening, although 2025 results were slightly below 2024 13. The number of owned hotels fell from 217 to 216 by June 2026 12.
SWOT
Strengths
Weaknesses
- High dependence on two brand families, which exposes the company to their decisions and possible disputes with franchisors 1.
- Most hotel costs are fixed, so a fall in demand can quickly reduce profitability 1.
- The company does not operate its hotels directly and relies on third parties for day-to-day management, which limits control over operating decisions 1.
Opportunities
- Acquiring and developing new hotels, such as the Anchorage and Las Vegas projects, could expand the portfolio if closing conditions are met 12.
- A recovery in business travel demand could support occupancy growth on weekdays 3.
- The recent refinancing and balance sheet flexibility could allow investment or share repurchases if market conditions become favourable 13.
Risks
- Cyclicality of the hotel industryhigh
Hotel performance is closely tied to the overall economy and can fall quickly in a recession, with a direct effect on revenue 1.
- Dependence on Marriott and Hiltonhigh
Almost all hotels operate under these two brand families, and a deterioration in the relationship or in brand reputation could affect portfolio value 1.
- Dependence on third-party managersmedium
The company cannot directly control day-to-day hotel operations, and weak performance by a manager could create extra costs and disruption 1.
- Limited control over labourmedium
Although third-party managers employ the staff, the company bears part of the cost and risk, and a labour shortage could limit hotel operations 1.
- Acquisition and development project risklow
Closing the Anchorage hotel purchase depends on conditions not yet satisfied, and there is no assurance the transaction will close, which could change growth plans 12.
Investment thesis
What would need to be true (bull case)
- If the demand recovery seen in the second quarter of 2026 persists, continued RevPAR growth could keep supporting revenue and margins 3.
- A balance sheet with controlled leverage and refinanced credit facilities could provide flexibility in harder periods 13.
- A geographically and brand-diversified portfolio of established brands could reduce dependence on any single market or demand category 1.
What would break the thesis
- The company reported slightly lower revenue and RevPAR for 2025, and it expects stability rather than growth for 2026, which could limit progress 1.
- High fixed costs and demand dependence could mean that any economic slowdown quickly hits profitability 1.
- The number of hotels fell over the past year, and expansion through acquisitions depends on transactions that are not yet completed, which could leave the portfolio without significant growth 12.
What to watch
- Evolution of Comparable Hotels RevPAR and quarterly resultsQ3 2026
- Closing of the Anchorage hotel acquisition or a possible withdrawal from the contract2027
- Execution and cost of the Las Vegas development project2028
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Apple Hospitality REIT is a self-advised REIT incorporated in Virginia that invests in income-producing real estate, mainly in the U.S. lodging sector. As of 31 December 2025 the company owned 217 hotels with 29,583 guest rooms, located in urban, high-end suburban and developing markets across 37 states and the District of Columbia 1. It has one reportable segment and no foreign operations 1.
The business model centres on acquiring rooms-focused hotels, mainly in the upscale and upper midscale classes, and reinvesting in them to keep their competitive advantage. The hotels are run by third-party management companies not affiliated with Apple Hospitality, and most operate under Marriott or Hilton franchises 1. The company also aims to keep leverage low to preserve financial flexibility 1.
In 2025 the company acquired two hotels and sold seven, and in the first half of 2026 it made no acquisitions and sold one 12. It has a contract to buy a hotel under development in Anchorage, Alaska, planned to open in the fourth quarter of 2027, and a dual-brand development project in Las Vegas planned for 2028 12.
Segments
Franchised hotels (single segment)
The company reports a single segment, the owned hotel portfolio, which includes brands such as Hilton Garden Inn, Courtyard, Hampton and Residence Inn; the largest brand family is Hilton Garden Inn with 39 hotels 1. Revenue comes from rooms, food and beverage and other related hotel services 1.
Market context
For 2026 the company expects RevPAR for Comparable Hotels to be similar to 2025, in line with broader industry expectations, assuming the current macroeconomic environment continues 1. This means the second-quarter recovery may not be a long-term trend if conditions change.
Trends
- Recovery in business and leisure travel demandtailwind
Management reported that demand improved in both business and leisure travel, and weekday occupancy grew faster than weekend occupancy 3. If this trend holds, it could support revenue and hotel margins.
- Pressure from operating costsheadwind
Hotel costs such as labour, insurance, utilities and property taxes are relatively fixed and can rise because of inflation or other factors, which could limit margin growth 1.
- Reliance on Marriott and Hilton brandsmixed
Almost all hotels operate under these two brand families, which brings the benefit of brand recognition but also the risk tied to their policies and franchise relationships 1.
- More favourable financing conditionstailwind
In July 2026 the company refinanced its unsecured credit facility and a term loan, obtaining improved pricing and staggered maturities, which could ease pressure on cash flow 3.
Competitive position
Apple Hospitality hotels compete mainly with other hotels in their immediate vicinity and, secondarily, with other lodging in the geographic market. The company also names competition from vacation ownership resort operators and short-term rental providers, including serviced apartments 1. The principal competitive factors are brand recognition, location, price and quality 1.
Competitive pressure could increase if the number of hotels or alternative accommodation in a given market grows, which would affect occupancy and RevPAR 1.
- Other hotels in the same market
Direct competition comes from hotels in the immediate vicinity, which the sources do not identify individually 1.
- Vacation ownership resort operators
Operators of vacation ownership resorts are named as a competing category, with no specific companies given in the source 1.
- Short-term rental providers
Platforms and providers of homes rented by the night, week or month are named as an alternative to hotel stays 1.
- Serviced apartment operators
Serviced apartments that can be rented short term are cited as an indirect competitor 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report15 Sept 2026Regulation FD disclosure · Financial statements and exhibits
- Current report10 Aug 2026Regulation FD disclosure · Financial statements and exhibits
- Current report06 Aug 2026Other events · Financial statements and exhibits
- Quarterly report05 Aug 2026
- Current report05 Aug 2026Results of operations · Financial statements and exhibits
- Current report28 Jul 2026Material agreement · Creation of a direct financial obligation · Other events · Financial statements and exhibits
- Current report15 Jun 2026Regulation FD disclosure · Financial statements and exhibits
- Current report10 Jun 2026Departure or appointment of officers
- Current report29 May 2026Regulation FD disclosure · Financial statements and exhibits
- Current report27 May 2026Shareholder vote · Other events
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Apple Hospitality REIT, Inc. · 23 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Apple Hospitality REIT, Inc. · 05 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Apple Hospitality REIT, Inc. · 05 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.