Apple Hospitality REIT, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024
May 06, 2024 at 04:16 pm EDT
Share
Apple Hospitality REIT, Inc. reported earnings results for the first quarter ended March 31, 2024. For the first quarter, the company reported sales was USD 298.75 million compared to USD 285.52 million a year ago. Revenue was USD 329.51 million compared to USD 311.45 million a year ago.
Net income was USD 54.05 million compared to USD 32.92 million a year ago. Basic earnings per share from continuing operations was USD 0.22 compared to USD 0.14 a year ago.
Apple Hospitality REIT, Inc. is a real estate investment trust (REIT) that owns a diverse portfolio of upscale, room-focused hotels in the United States. The Company's portfolio consists of about 224 hotels with more than 29,886 guest rooms located in 87 markets throughout 37 states as well as one property leased to third parties. Its hotel portfolio consists of 100 Marriott-branded hotels, 118 Hilton-branded hotels and five Hyatt-branded hotels. Its hotels operate under Marriott or Hilton brands. The hotels are operated and managed under separate management agreements with 16 hotel management companies, consisting of Hilton Garden Inn, Hampton, Courtyard, Residence Inn, Homewood Suites, SpringHill Suites, Fairfield, Home2 Suites, TownePlace Suites, AC Hotels, Hyatt Place, Marriott, Embassy Suites, Aloft, and Hyatt House. Its hotels are located in various states, including Alaska, Arizona, California, Colorado, Florida, Georgia, Idaho, Illinois, Kansas, Louisiana, Michigan, and others.
APPLE HOSPITALITY REIT, INC. 
