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Apple Hospitality REIT (APLE) investor relations material
Apple Hospitality REIT Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Portfolio fundamentals remained strong despite macroeconomic headwinds, with resilient leisure demand and effective cost management offsetting softness in government and midweek business travel.
Owned 220 hotels with 29,687 guest rooms in 37 states and D.C. as of September 30, 2025, including four hotels held for sale expected to close in Q4 2025.
Strategic focus on maximizing profitability through market share gains, expense control, and capital allocation, including selective asset sales and share repurchases.
Ongoing investments in portfolio relevancy, including new hotel developments in key markets and brand transitions to enhance operational flexibility.
Management highlighted performance exceeding industry averages despite a challenging environment.
Financial highlights
Q3 2025 revenue was $373.9 million, down 1.3% year-over-year; nine-month revenue was $1.09 billion, down 1.1%.
Comparable Hotels' adjusted hotel EBITDA was $129.6 million for Q3 and $375.9 million year-to-date, down 6.8% and 6.1% respectively.
Q3 RevPAR was $124.03 (down 1.8%), ADR $162.70 (down 0.6%), and occupancy 76.2% (down 1.2%); year-to-date RevPAR $121.28 (down 1.4%), ADR $161.00 (up 0.1%), occupancy 75.3% (down 1.4%).
Q3 net income was $50.9 million, down 9.6% year-over-year; nine-month net income was $145.7 million, down 20.9%.
Adjusted EBITDAre for Q3 was $122.1 million, down 5.3% year-over-year.
Outlook and guidance
2025 full-year guidance: net income $162–$175 million; Comparable Hotels' RevPAR change -2% to -1%; adjusted hotel EBITDA margin 33.9%–34.5%; adjusted EBITDAre $435–$444 million.
Guidance reflects year-to-date performance and anticipated impact of economic uncertainty and government shutdown.
Capital expenditures for 2025 anticipated at $80–$90 million.
RevPAR guidance reduced by 100 bps, but EBITDA margin and adjusted EBITDAre increased due to strong cost controls and lower G&A.
Expense growth for 2025 expected at 2.1% (3.4% CPOR), mainly from higher fixed costs.
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