What is the market's earnings forecast for Apple Hospitality next quarter?

What is the revenue and EPS growth rate for Apple Hospitality year over year?

What does Apple Hospitality do and what are its main business segments?

What is Apple Hospitality's latest dividend and current dividend yield?

What were the key takeaways from Apple Hospitality’s earnings call?

What factors drove the changes in Apple Hospitality's revenue and profit?

What is Apple Hospitality's gross profit margin?

Did Apple Hospitality beat or miss consensus estimates last quarter?

- **RevPAR Resilience**: 2025 comparable RevPAR down 1.6% YoY, outperforming industry, with Q4 RevPAR decline moderating in December.
- **Margin Strength**: Full-year adj. EBITDA margin 34.3%, industry-leading, despite 1.6% RevPAR decline.
- **Strategic Transitions**: 13 Marriott-managed hotels transitioned to franchise, positioning for future accretion.
- **2026 Outlook**: Flat RevPAR guidance reflects cautious macro outlook, but FIFA World Cup 2026 could drive upside.
- **Balance Sheet Flexibility**: $587M revolver availability, 64% debt fixed/hedged, supporting opportunistic capital allocation.

**【CEO Summary Section】**
- **Portfolio Performance**: Full-year 2025 comparable RevPAR of $118, down 1.6% YoY, driven by leisure strength but midweek weakness due to government travel pullback. Q4 RevPAR of $107, down 2.6% YoY.
- **Management Transitions**: 13 Marriott-managed hotels transitioned to franchise, reducing fixed costs and enhancing operational flexibility. 2026 EBITDA margin target of 32.4%-33.4%.
- **Capital Allocation**: Sold 7 hotels for $73M, repurchased 4.6M shares ($58M). 2026 capex $80-90M, with 21 hotels undergoing renovations.
- **2026 Outlook**: Flat RevPAR guidance (-1% to +1%), cautious due to policy risks but optimistic on FIFA World Cup 2026 tailwinds.

**【CFO Financial Commentary】**
- **Q4 2025 Results**: Total revenue $319M, adj. hotel EBITDA $99M (31.1% margin). Full-year adj. EBITDA $474M (34.3% margin). MFFO $361M ($1.52/share) down 5.6% YoY.
- **Expense Control**: Q4 variable expenses +0.5%, fixed +7%. 2026 expense guidance: +3% total, +2% on CPOR.
- **Balance Sheet**: $1.5B debt (3.4x EBITDA), $587M revolver availability. 2026 net income guidance $133-160M.

**【Q&A Highlights】**
- **RevPAR Impact**: 2025 government shutdown dragged occupancy ~1pt; 2026 FIFA World Cup could benefit late Q2, but not included in base case.
- **Expense Guidance**: 2026 variable +2.7%, fixed +4.5%. Share-based comp excluded from EBITDA calc.
- **Capital Allocation**: No 2026 acquisitions under contract; focused on selective dispositions and stock buybacks.
- **Supply Dynamics**: 59% of hotels have no new supply within 5-mile radius, limiting downside risk.

Apple Hospitality REIT, Inc.(APLE)-20260224-2025 Q4 Earnings call transcript

- **Resilient Performance**: Q3 RevPAR $124 (-1.8% YoY), EBITDA margin 35.2%, outperforming industry with STR RevPAR $102.
- **Strategic Capital Allocation**: Sold 3 hotels for $37M, repurchased 3.8M shares at $12.73, redeploying proceeds from dispositions.
- **Cost Control Success**: Variable expenses grew 0.7%, contract labor reduced 16%, FTE count aligned with occupancy.
- **Future Growth Pipeline**: $210M in new developments (Anchorage AC, Las Vegas dual-branded) and 13 Marriott transitions to franchise for cost savings.
- **Market Focus**: High-growth markets like Anchorage (top RevPAR) and Nashville, disposing of assets at 6.2% cap rate to buy shares at 3-turn spread.

**【CEO Summary Section】**
- **Challenges and Strategy**: Faced headwinds from policy uncertainty and government travel pullback, but maintained strong performance through cost control and strategic asset sales. Sold 3 hotels for $37M and repurchased 3.8M shares at $12.73 avg price, redeploying proceeds from dispositions.
- **Performance Metrics**: Q3 RevPAR $124 (-1.8% YoY), ADR $163 (-0.6%), occupancy 76% (-1.2%). Comparable hotels EBITDA margin 35.2%, outperforming industry with STR RevPAR $102.
- **Future Developments**: Acquired Homewood Suites Tampa-Brandon ($19M) and Motto Nashville ($98M). Entered into forward contracts for AC Hotel in Anchorage ($66M) and dual-branded AC/Residence Inn in Las Vegas ($144M). Transitioning 13 Marriott-managed hotels to franchise to reduce costs and improve flexibility.

**【CFO Financial Commentary】**
- **Financial Results**: Q3 total revenue $365M (-1% YoY), adjusted EBITDA $129M (-7% YoY). MFFO $100M ($0.42/share), down 7% YoY. Full-year guidance: RevPAR -2% to -1%, EBITDA margin 33.9%-34.5%.
- **Balance Sheet**: $1.5B debt (3.3x EBITDA), $50M cash, $648M revolver availability. Repaid $29M mortgage, leaving 210 unencumbered hotels.
- **Expense Management**: Variable expenses grew 0.7%, fixed costs up 12% due to real estate taxes. Payroll per room $40, down 2% YoY. Contract labor reduced 16%.

**【Q&A Highlights】**
- **Expense Efficiency**: 12% reduction in contract labor, FTE count aligned with occupancy. Variable expenses controlled despite RevPAR decline.
- **Development Rationale**: AC brand offers strong margins and efficiency. Las Vegas projects (AC/Residence Inn) near convention center for demand diversification.
- **Government Demand Recovery**: October RevPAR down 3% YoY due to shutdown. Historical recovery suggests pent-up demand post-shutdown.
- **Market Strategy**: Focus on high-growth markets (Anchorage, Nashville) with favorable supply-demand dynamics. Disposed of 3 hotels at 6.2% cap rate, redeploying into shares at 3-turn spread.

Apple Hospitality REIT, Inc. (APLE) Q3 2025 Earnings Call Transcript

- **Q2 EBITDA Resilience**: 37.4% margin despite RevPAR -1.7% YoY, driven by cost control and group business growth to 17% mix.
- **Updated Guidance**: Full-year RevPAR -1.5% to +0.5%, reflecting cautious outlook but potential upside from July booking improvement.
- **Share Repurchase Focus**: $43M repurchased YTD at 3.5x spread to asset sales, with balance sheet capacity to act opportunistically.
- **Supply-Demand Edge**: 60% of hotels have no new supply, reducing risk and enhancing upside potential.
- **Group Business Strategy**: Layering on small, short-term groups drove ADR resilience, with 150bps mix improvement Q2.


**【CEO Summary Section】**
- Portfolio fundamentals improved sequentially, with RevPAR declines moderating each month and July showing year-over-year growth. April was challenging due to economic uncertainty, government travel pullback, and calendar shifts.
- Comparable hotels EBITDA margin of 37.4% for Q2, industry-leading despite lower top-line growth. Group business growth offset softer performance in other segments.
- Supply-demand dynamics favorable: 60% of hotels have no new upper/mid-scale supply within 5 miles. Portfolio well-positioned for economic recovery.
- Capital allocation: $21M in hotel sales, $43M in share repurchases, $19M acquisition of Homewood Suites Tampa Brandon. Balance sheet strength maintained.
- 2025 guidance updated: RevPAR -1.5% to +0.5%, EBITDA margin 33.5-34.5%, EBITDAre $428-450M. Cautious outlook due to short booking window and macroeconomic uncertainty.

**【CFO Financial Commentary】**
- Q2 comparable hotels total revenue $380M (-1% YoY), EBITDA $142M (-5% YoY). RevPAR $129 (-1.7% YoY), ADR $164 (-0.1%), occupancy 79% (-1.6%). Year-to-date RevPAR $120 (-1.1%).
- Group business mix improved 150bps to 17%, driving ADR resilience. Other revenues up 6% YoY (parking). Variable expenses controlled, payroll per room up 3% vs. 4% YoY.
- Balance sheet: $1.5B debt (3.4x EBITDA), $475M revolver availability. New $385M term loan extended maturity to 2030, 67% debt hedged post-swap.

**【Q&A Highlights】**
- **Guidance Adjustment**: Liz Perkins noted Q2 booking trends (down in Aug/Sep) drove guidance cut, but July improvement suggests potential upside. Q4 expected to outperform Q3 due to softer comps and Rosh Hashanah shift.
- **Group Business Strategy**: Justin Knight highlighted team success in adding group business at attractive rates, contributing to RevPAR resilience. Group mix now 17% vs. prior 15.5%, with focus on smaller, short-term events.
- **Market Performance**: Sunbelt markets (Phoenix, Dallas) underperformed due to semiconductor sector pullback, convention center renovations. Team adapted by shifting to group business, gaining market share.
- **Capital Allocation**: Justin Knight emphasized share repurchases (8.2% yield) as top priority given 3.5x spread to asset sales. Nashville Motto acquisition ($98M) under construction, expected Q4 2025 close.
- **Supply Dynamics**: 60% of hotels have no new supply, reducing downside risk. Portfolio age 10-15 years, well-positioned for long-term demand trends.


Apple Hospitality REIT, Inc. (APLE) Q2 2025 Earnings Call Transcript

- **Q1 Results**: RevPAR flat (-0.5%), ADR +1%, occupancy -1.5%. EBITDA down 5% due to fixed costs.
- **2025 Guidance**: RevPAR -1% to +1%, EBITDA $433M-$457M. Assumes 3.3% expense growth.
- **Capital Allocation**: $32M in buybacks, 3 hotels sold for $21M. Nashville hotel under contract for $98M.
- **Demand Signals**: April booking strength (+1% rate, +2% occupancy), group business up 140bps YoY.
- **Supply Dynamics**: 60% of portfolio has no new supply nearby; cap rates sub-7% for dispositions.
- **Cost Efficiency**: Contract labor down 18%, EBITDA margin 32.3% despite top-line softness.


**【CEO Summary Section】**
- Q1 2025 comparable hotels RevPAR: $111 (-0.5% YoY), ADR: $157 (+1% YoY), Occupancy: 71% (-1.5% YoY). Rate growth offset occupancy decline.
- Adjusted EBITDAre: $95M (-5% YoY); Modified FFO: $76M (-9% YoY). Higher fixed costs and lower top-line growth impacted margins.
- 2025 full-year guidance revised: RevPAR change -1% to +1%, EBITDAre $433M-$457M. Assumes 3.3% expense growth YoY.
- Capital allocation: $32M in share buybacks YTD; sold 3 hotels for $21M, repurchased 2.4M shares at $13.32 avg price. Nashville Motto hotel under contract for $98M.
- 2025 CapEx: $80M-$90M for 20 hotel renovations. Tariffs may impact project timing but no delays reported.

**【CFO Financial Commentary】**
- Q1 2025 total revenue: $324M (-0.4% YoY); adjusted hotel EBITDA: $105M (-5% YoY). EBITDA margin: 32.3% (-180bps YoY) due to higher fixed costs (utilities +9%, taxes +8%).
- April 2025 RevPAR: -3.5% YoY (rate +1%, occupancy -2%). Weekend occupancy hit 90% in late April, suggesting recovery.
- Balance sheet: $1.5B debt (3.3x trailing EBITDA), $15M cash, $500M revolver availability. 72% debt fixed/hedged.
- 2025 financial outlook: Net income $167M-$195M; EBITDA margin 33.7%-34.7%. Guidance reflects cautious macro outlook but stable demand trends.

**【Q&A Key Themes】**
1. **Demand Trends**: Q2 expected to be weakest quarter (-1% RevPAR), but April booking strength (+1% rate, +2% occupancy) suggests recovery. Group business (+140bps YoY) and property direct (+110bps YoY) offset government pullback.
2. **Transaction Market**: Actively selling 3-4 small hotels/year at sub-7% cap rates, using proceeds for share buybacks. 60% of portfolio has no new supply within 5-mile radius.
3. **Cost Management**: Contract labor reduced to 7.1% of wages (-18% YoY). Variable expenses controlled (+1.6% YoY), but fixed costs (taxes, insurance) remain headwinds.
4. **CapEx Strategy**: 5%-6% of revenue spent on renovations. No plans to defer projects despite macro uncertainty; renovated hotels outperform peers.
5. **Macro Resilience**: Portfolio supply-constrained, with 60% hotels in markets with no new upper-mid/upscale supply. Historically outperforms peers in downturns.


Apple Hospitality REIT (APLE)-2 May 25-2025 Q1 Earnings call transcript

- **Revenue Growth**: Q4 2024 RevPAR +3%, full year +1%, driven by ADR and occupancy improvements.
- **Capital Allocation**: 2024: $196M acquisitions, $63M sales, $35M share buybacks, $78M capex. 2025: $80-90M capex, 20 hotel renovations.
- **2025 Outlook**: 1-3% RevPAR growth, 34.2-35.2% EBITDA margin, $447-471M EBITDAre.
- **Dividend Yield**: 6.5% annualized, supported by strong MFFO growth.
- **Expense Management**: 2025 assumes 4.2% expense growth, with 5% fixed cost increase offset by 3.5% variable growth.
- **Asset Sales**: 7-10% of portfolio targeted for sale, proceeds used for accretive share buybacks.
- **Midweek Rate Upside**: 5% ADR compression needed to match weekend rates.
- **Debt Strategy**: Term loans may be refinanced at 5-year terms; secured debt refinancing unlikely.
- **Supply Constraints**: 55% of hotels have no new supply nearby, limiting downside risk.


**【CEO Summary Section】**
- Comparable hotels RevPAR grew 3% Q4 2024 vs. 2023, driven by 1% ADR growth and 2% occupancy improvement. Full year RevPAR up 1%.
- Acquired 2 hotels for $196M and sold 6 hotels for $63M, repurchased $35M in shares, and reinvested $78M in capital expenditures.
- 2025 capital spend forecast: $80-90M, with 20 hotel renovations, including 11 under multiyear franchise agreements.
- 2025 outlook: 1-3% RevPAR growth, 34.2-35.2% EBITDA margin, $447-471M adjusted EBITDAre.
- L.A. and D.C. hotels saw strong post-wildfire demand in Q1 2025, offsetting weather-related disruptions.

**【CFO Financial Commentary】**
- Q4 2024 comparable hotels revenue: $329M (4% YoY growth). Adjusted EBITDAre: $97M (7% YoY growth). MFFO: $77M (6% YoY growth).
- Full year 2024 MFFO: $389M (6% YoY growth). Annualized dividend yield: 6.5%.
- Balance sheet: $1.5B total debt, 3.1x trailing EBITDA, 75% debt fixed/hedged.
- 2025 guidance assumes 4.2% hotel expense growth, driven by 11% property tax increase and 2% brand conference costs.

**【Q&A Highlights】**
- **Expense Growth**: 2025 fixed costs expected to rise 5% due to property taxes, offset by 3.5% variable expense growth. Total expense growth at 4.2% midpoint.
- **Asset Sales Strategy**: 7-10% of portfolio (smaller tertiary market hotels) targeted for sale. Proceeds used for share buybacks (1.5x spread to dispositions) and debt reduction.
- **Midweek Rate Potential**: 5% ADR compression needed to match weekend rates. Q4 2024 weekday ADR lagged weekends by 2%.
- **Debt Refinancing**: $225M term loans maturing Q3 2025 may be refinanced at 5-year terms. Secured debt refinancing less likely due to attractive rates.
- **Supply Dynamics**: 55% of hotels have no new upper upscale/mid-scale supply within 5-mile radius. Construction starts remain muted due to high costs.


Actual												-0.01	-0.35	-0.18	-0.23	-0.21	0.09	0.14	0.06	0.08	0.29	0.26	0.01	0.14	0.29	0.26	0.09	0.22	0.31	0.23	0.12	0.13	0.27	0.21	0.13
Forecast												0.04	-0.35	-0.14	-0.1425	-0.13	-0.01	0.065	0.055	0.055	0.225	0.2367	0.1233	0.12	0.28	0.2425	0.1025	0.1475	0.302	0.246	0.1	0.13	0.265	0.2267	0.1033
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-125.00%	0.00%	-28.57%	-61.40%	-61.54%	+1000.00%	+115.38%	+9.09%	+45.45%	+28.89%	+9.84%	-91.89%	+16.67%	+3.57%	+7.22%	-12.20%	+49.15%	+2.65%	-6.50%	+20.00%	0.00%	+1.89%	-7.37%	+25.85%

APLE

APLE fundamentals

APLE Q4 2025 Earnings

Earnings Call

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APLE

APLE fundamentals

APLE Q4 2025 Earnings

Earnings Call

APLE Earnings Call Summary for Q4/202511:00 AM on Feb 24, 2026

APLE Earnings Call Summary for Q3/202511:00 AM on Nov 4, 2025

APLE Earnings Call Summary for Q2/202510:00 AM on Aug 7, 2025

APLE Earnings Call Summary for Q1/202510:00 AM on May 2, 2025

APLE Earnings Call Summary for Q4/202410:00 AM on Feb 25, 2025

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