Apple Hospitality REIT, Inc.

Listed Company

APLECIK 0001418121NYSELarge AcceleratedReal Estate Investment TrustsVirginiaFY ends Dec 31

Period

FY 2025

Revenue

$1.41B

Net Income

$175.36M

Total Assets

$4.90B

Equity

$3.15B

Shares Out

235.66M

Op. Cash Flow

$370.22M

Business

Apple Hospitality REIT, Inc. is a self-advised real estate investment trust that invests in income-producing lodging properties in the United States. It owns and operates primarily rooms-focused hotels that largely operate under Marriott and Hilton brands and generates revenue from hotel operations and, in one case, lease income. The company conducts its business through a single reportable segment and engages 16 third-party hotel management companies under franchise and management agreements. Its portfolio is diversified across urban, suburban and developing markets throughout 37 states and the District of Columbia, with national brand distribution channels and franchisor reservation systems.

Summary from filing dated 2025-02-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	1,412	1,431	1,344	1,238	934
Total hotel operating expense	847	838	781	710	542
Property taxes, insurance and other	90	84	79	73	72
General and administrative	32	43	47	42	41
Impairment of depreciable real estate	6	3	6	26	11
Depreciation and amortization	193	191	183	182	184
Total expense	1,168	1,158	1,096	1,034	850
Gain on sale of real estate	13	20	0	2	4
Operating income	258	293	247	206	87
Interest and other expense, net	−81	−78	−69	−60	−68
Income before income taxes	176	215	179	147	19
Income tax expense	−1	−900,000	−1	−2	−468,000
Net income	175	214	177	145	19
Interest rate derivatives	−13	−5	−16	52	27
Comprehensive income	162	209	161	197	46
Basic net income per common share	0.74	0.89	0.77	0.63	0.08
Diluted net income per common share	0.74	0.89	0.77	0.63	0.08
Weighted average common shares outstanding - basic (in Shares)	238	241	229	229	226
Weighted average common shares outstanding - diluted (in Shares)	238	241	229	229	226

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Investment in real estate, net of accumulated depreciation and amortization of $1,972,264 and $1,821,344, respectively	4,788	4,821	4,777	4,611	4,677
Assets held for sale	0	17	15	—	0
Cash and cash equivalents	9	10	10	4	3
Restricted cash-furniture, fixtures and other escrows	31	34	33	39	37
Due from third party managers, net	33	35	36	43	40
Other assets, net	42	54	65	75	33
Total Assets	4,902	4,970	4,937	4,773	4,791
Debt, net	1,500	1,500	1,400	1,400	1,439
Finance lease liabilities	111	112	112	112	112
Accounts payable and other liabilities	104	121	130	116	93
Total Liabilities	1,754	1,704	1,613	1,594	1,643
Preferred stock, authorized 30,000,000 shares; none issued and outstanding	0	0	0	0	0
Common stock, no par value, authorized 800,000,000 shares; issued and outstanding 235,635,813 and 239,765,905 shares, respectively	4,720	4,771	4,795	4,577	4,569
Accumulated other comprehensive income	2	16	20	37	−16
Accumulated distributions greater than net income	−1,574	−1,521	−1,491	−1,436	−1,407
Total Shareholders' Equity	3,149	3,266	3,324	3,178	3,147
Total Liabilities and Shareholders' Equity	4,902	4,970	4,937	4,773	4,791

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Other non-cash expenses, net	7	8	9	9	10
Decrease in due from third party managers, net	2	1	7	−3	−18
Decrease (increase) in other assets, net	882,000	2	−6	−2	846,000
Increase in accounts payable and other liabilities	203,000	6	23	14	14
Net cash provided by operating activities	370	405	399	368	218
Acquisition of hotel properties, net	−117	−197	−291	−85	−362
Disbursements for potential acquisitions, net	−3	−349,000	−1	—	−893,000
Capital improvements	−87	−80	−72	−59	−18
Net proceeds from sale of real estate	72	62	0	8	231
Net cash used in investing activities	−135	−216	−365	−136	−151
Net (disbursements) proceeds related to issuance of common shares	−504,000	−483,000	216	−265,000	75
Repurchases of common shares	−58	−35	−7	−3	—
Common shares surrendered to satisfy employee withholding requirements	−5	−8	−8	−6	−3
Distributions paid to common shareholders	−240	−244	−238	−140	−7
Proceeds from revolving credit facility	234	408	385	171	−30
Payments on revolving credit facility	−256	−325	−385	−247	—
Proceeds from term loans and senior notes	385	45	50	175	—
Payments on term loans and senior notes	−225	0	0	—	—
Payments of mortgage debt and other loans	−70	−29	−46	−169	−71
Principal payments on finance leases	−703,000	−515,000	−340,000	−173,000	−24
Financing costs	−4	−823,000	−506,000	−10	−2
Net cash used in financing activities	−239	−189	−34	−229	−61
Net change in cash, cash equivalents and restricted cash	−5	449,000	106,000	4	6
Interest paid, net	80	76	68	58	63
Income taxes paid	1	876,000	1	2	637,000
Accrued capital expenditures	15	14	16	11	9

Filings

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