Apple Hospitality REIT (APLE) Q3 2026 earnings summary

Executive summary

• Broad-based business and leisure demand lifted Q3 comparable RevPAR 7.3%; comparable hotel EBITDA margin expanded 210 bps and Adjusted EBITDAre rose 13.3%.

• October comparable RevPAR growth was preliminarily ~10%; stronger business travel and muted supply supported a positive 2027 outlook.

Financial highlights

• Q3 revenue was $398.332M, up 6.5%; net income rose 18.9% to $60.473M and diluted EPS increased to $0.26 from $0.21.

• Q3 Adjusted Hotel EBITDA was $147.4M, up 13.7%; comparable hotel revenue was $393.571M and comparable Adjusted Hotel EBITDA was $145.857M, up 14.7%.

• Q3 MFFO increased 16.0% to $117.950M, or $0.50 per share, up 16.3%; Adjusted EBITDAre was ~$140M, up 13.3%.

• 9M revenue was $1.139B, up 4.9%; net income was $155.249M and Adjusted EBITDAre was $384.789M, up 8.0%.

• 9M comparable hotel revenue was $1.1B, up 6.4%; comparable Adjusted Hotel EBITDA was $405.388M, up 9.9%, with a 36.1% margin, up 120 bps.

Outlook and guidance

• FY26 guidance: comparable RevPAR growth of 5.1%–6.1%, comparable hotel EBITDA margin of 35.0%–35.5%, net income of $177M–$192M and Adjusted EBITDAre of $482M–$493M.

• Guidance midpoints increased $19M for net income and $23M for Adjusted EBITDAre, reflecting the Q3 beat and stronger Q4 expectations.

• FY26 capital expenditure guidance is $85M–$95M, including comprehensive renovations at ~18 hotels.

• Management cited improving business travel, broad demand and muted new supply as supports for 2027; the World Cup is expected to be a modest headwind in host markets, primarily in Q2.