Apple Hospitality REIT Inc ( (APLE) ) has released its Q4 earnings. Here is a breakdown of the information Apple Hospitality REIT Inc presented to its investors.
Apple Hospitality REIT, Inc. is a publicly traded real estate investment trust that owns a diverse portfolio of upscale, rooms-focused hotels across the United States, with a concentration in Marriott, Hilton, and Hyatt brands.
In its latest earnings report, Apple Hospitality REIT announced a robust financial performance for the fourth quarter and full year of 2024, marked by significant increases in net income and operating income. The company attributed its success to strong business transient demand, leisure travel, and strategic asset management.
Key financial metrics for 2024 included a 20.6% increase in net income to $214 million and a 6.9% rise in Adjusted EBITDAre to $467 million. The company also reported a 2.5% increase in Revenue Per Available Room (RevPAR) and maintained a strong balance sheet with a total debt to total capitalization ratio of 28%. Strategic activities included the acquisition of two hotels and the sale of six non-core properties, alongside a share repurchase program.
Looking ahead, Apple Hospitality REIT remains optimistic about 2025, expecting continued positive momentum in operating fundamentals. The company plans to focus on maximizing profitability through strategic asset management and capital allocation, with anticipated capital expenditures between $80 million and $90 million for the year.