Apple Hospitality Q1 net income rises 64% to $54M; hotel margins slip 160 bps

Apple Hospitality REIT, Inc.

2024-Q1 EPS reported $0.22 revenue$329,512,000

Net income $54.1M ($0.22/share) vs $32.9M ($0.14) in Q1 2023, up 64%.
Comparable Hotels Adjusted Hotel EBITDA margin 33.7%, down 160 bps from 35.3%.
Comparable RevPAR flat at $111.09 vs $111.14; ADR and occupancy unchanged.
MFFO per share $0.34, same as Q1 2023; distributions paid $0.29/share, down 9.4%.
Total debt $1.51B, 27.4% of total capitalization; cash $4.9M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Apple Hospitality REIT, Inc. reported the three months ended March 31, 2024 results: net income $54,050, EPS $0.22 per share.

Period: the three months ended March 31, 2024
Net income: $54,050
EPS: $0.22 per share
Result: reported results

Exact text from the filing

Apple Hospitality REIT Reports Results of Operations for First Quarter 2024 RICHMOND, Va. (May 6, 2024) – Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or “Apple Hospitality”) today announced results of operations for the first quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0000950170-24-053568

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