Apple Hospitality REIT (APLE) Q2 2026 earnings summary

Executive summary

• Comparable Hotels RevPAR grew 5.3% year-over-year in Q2 2026, driven by broad-based business and leisure demand, with weekday occupancy outpacing weekends.

• Three-quarters of hotels posted RevPAR growth, up from two-thirds in Q1, and margin expansion was achieved through efficient operations and expense management.

• Portfolio consisted of 216 hotels with about 29,500 rooms in 37 states and DC as of June 30, 2026, primarily under Marriott and Hilton brands.

• Completed the sale of one hotel for $8.7–$9 million and continued capital reinvestment and development projects, including new contracts in Anchorage and Las Vegas.

• Extended and amended major credit facilities in July 2026, increasing revolving credit capacity and extending maturities.

Financial highlights

• Q2 Comparable Hotels RevPAR: $136, up 5.3%; ADR: $170, up 3.5%; occupancy: 80.1%, up 130–160 bps year-over-year.

• Q2 Comparable Hotels total revenue: $402–$402.6M, up 4.7–6.2%; adjusted hotel EBITDA: $153–$153.3M, up 8.7–9.7%; margin: 38.1%, up 120 bps.

• Net income for Q2 2026 was $67.1M, up 5.4% year-over-year; operating income increased 3.9% to $88.2M.

• MFFO per share grew over 8% in Q2 to $0.52; year-to-date MFFO per share up 7% to $0.86.

• Adjusted EBITDAre for Q2: $144.5–$145M, up 7.5%; year-to-date: $245M, up 5.3%.

Outlook and guidance

• Full-year Comparable Hotels RevPAR growth expected between 2.25% and 4.25%; guidance raised by 225 bps.

• Full-year adjusted hotel EBITDA margin guidance: 33.7–34.7%, up 75 bps.

• Adjusted EBITDAre guidance: $453–$476M; net income: $152–$180M, up $10M from prior midpoint.

• Capital expenditures guidance raised by $5M to $85–$95M.

• Guidance incorporates strong Q2 performance and improved outlook for business and leisure demand.