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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.
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Q3 2025 earnings summary4 Nov, 2025

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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Frequently asked questions

Apple Hospitality REIT, Inc. is a real estate investment trust (REIT) focused on owning and operating hotel properties across the United States. The company primarily invests in upscale, select-service, and extended-stay hotels under well-known brands, including Hilton, Marriott, and Hyatt. Its portfolio is geographically diversified, targeting high-demand markets to cater to both business and leisure travelers. The company is headquartered in Richmond, Virginia, and its shares are listed on the NYSE.

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