Apple Hospitality REIT Announces Monthly Distribution

Rhea-AI Summary

Apple Hospitality REIT (NYSE: APLE) has announced a monthly cash distribution of $0.08 per common share, payable on June 17, 2024, to shareholders of record as of May 31, 2024.

Based on the closing price of $14.61 per share on May 17, 2024, this represents an annualized distribution of $0.96 per common share, equating to a yield of approximately 6.6%.

Apple Hospitality owns 224 hotels with roughly 29,900 guest rooms across 87 markets in 37 states and the District of Columbia, featuring leading brands such as Marriott, Hilton, and Hyatt.

Positive

• Monthly cash distribution declared at $0.08 per common share.
• Distribution represents an annual yield of approximately 6.6%.
• Large and diverse portfolio with 224 hotels and 29,900 guest rooms.
• Presence in 87 markets across 37 states and the District of Columbia.
• Strong brand concentration with 101 Marriott, 118 Hilton, and 5 Hyatt hotels.

Negative

• No information on revenue growth or profitability in the announcement.
• Potential risks not addressed, such as market fluctuations or economic downturns affecting hotel occupancy.
• No mention of strategic initiatives or future growth plans beyond the distribution announcement.

RICHMOND, Va.--(BUSINESS WIRE)-- Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or “Apple Hospitality”) today announced that its Board of Directors declared a regular monthly cash distribution of $0.08 per common share. The distribution is payable on June 17, 2024, to shareholders of record as of May 31, 2024.

Based on the Company’s common stock closing price of $14.61 on May 17, 2024, the annualized distribution of $0.96 per common share represents an annual yield of approximately 6.6%.

About Apple Hospitality REIT, Inc.

Apple Hospitality REIT, Inc. (NYSE: APLE) is a publicly traded real estate investment trust (“REIT”) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Apple Hospitality’s portfolio consists of 224 hotels with approximately 29,900 guest rooms located in 87 markets throughout 37 states and the District of Columbia. Concentrated with industry-leading brands, the Company’s hotel portfolio consists of 101 Marriott-branded hotels, 118 Hilton-branded hotels and five Hyatt-branded hotels. For more information, please visit www.applehospitalityreit.com.

Forward-Looking Statements Disclaimer

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are typically identified by use of statements that include phrases such as “may,” “believe,” “expect,” “anticipate,” “intend,” “estimate,” “project,” “target,” “goal,” “plan,” “should,” “will,” “predict,” “potential,” “outlook,” “strategy,” and similar expressions that convey the uncertainty of future events or outcomes. Such statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements.

Such factors include, but are not limited to, the ability of the Company to effectively acquire and dispose of properties and redeploy proceeds; the anticipated timing and frequency of shareholder distributions; the ability of the Company to fund capital obligations; the ability of the Company to successfully integrate pending transactions and implement its operating strategy; changes in general political, economic and competitive conditions and specific market conditions (including the potential effects of inflation or a recessionary environment); reduced business and leisure travel due to geopolitical uncertainty, including terrorism and acts of war; travel-related health concerns, including widespread outbreaks of infectious or contagious diseases in the U.S.; inclement weather conditions, including natural disasters such as hurricanes, earthquakes and wildfires; government shutdowns, airline strikes or equipment failures or other disruptions; adverse changes in the real estate and real estate capital markets; financing risks; changes in interest rates; litigation risks; regulatory proceedings or inquiries; and changes in laws or regulations or interpretations of current laws and regulations that impact the Company’s business, assets or classification as a REIT. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore there can be no assurance that such statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by the Company or any other person that the results or conditions described in such statements or the objectives and plans of the Company will be achieved. In addition, the Company’s qualification as a REIT involves the application of highly technical and complex provisions of the Internal Revenue Code of 1986, as amended. Readers should carefully review the risk factors described in the Company’s filings with the Securities and Exchange Commission, including but not limited to those discussed in the section titled “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Any forward-looking statement that the Company makes speaks only as of the date of this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements or cautionary factors, as a result of new information, future events, or otherwise, except as required by law.

For additional information or to receive press releases by email, visit www.applehospitalityreit.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240519224414/en/

Apple Hospitality REIT, Inc.

Kelly Clarke, Vice President, Investor Relations

804‐727‐6321

kclarke@applereit.com

Source: Apple Hospitality REIT, Inc.

FAQ

What is Apple Hospitality REIT's stock symbol?

Apple Hospitality REIT's stock symbol is APLE.

What is the monthly cash distribution announced by Apple Hospitality REIT?

Apple Hospitality REIT announced a monthly cash distribution of $0.08 per common share.

When is the distribution payable for Apple Hospitality REIT?

The distribution is payable on June 17, 2024.

What is the annualized distribution yield for Apple Hospitality REIT based on the most recent closing price?

The annualized distribution yield is approximately 6.6%.

How many hotels are in Apple Hospitality REIT's portfolio?

Apple Hospitality REIT's portfolio includes 224 hotels.

Which brands are concentrated in Apple Hospitality REIT's hotel portfolio?

Apple Hospitality REIT's hotel portfolio includes Marriott, Hilton, and Hyatt brands.