Reports Q3 revenue $378.843M, consensus $380.15M. Justin Knight, Chief Executive Officer of Apple Hospitality, commented, “With slow but steady improvement in business transient demand and ongoing strength in leisure travel, operating fundamentals remained strong across our portfolio during the quarter, with Comparable Hotels RevPAR growth of approximately 1% as compared to the third quarter of 2023. Based on preliminary results, occupancy for the month of October was approximately 80%, with continued improvement in ADR. We remain intently focused on maximizing the profitability of our hotels through strategic asset management and are pleased to report strong bottom-line performance for the quarter, bolstered by recent acquisitions, continued strength in ADR and moderating expense growth.”
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