10-K · February 23, 2026
Apple Hospitality remains one of the largest U.S. lodging REITs with 217 hotels (29,583 rooms) and a diversified Marriott/Hilton‑heavy portfolio. Operational metrics were modestly weaker in 2025 (RevPAR -0.5% vs 2024)…
Earnings analysis · 10-Q
APLE earnings analysis
Filed May 4, 2026 · Our reading of the company's report
The latest report
Apple Hospitality REIT, Inc. reported a revenue increase of 3.1% year-over-year, reaching $337.7 million, alongside an increase in diluted EPS to $0.34, reflecting a positive outlook compared to the previous year's…
Read full summary
Apple Hospitality REIT, Inc. reported a revenue increase of 3.1% year-over-year, reaching $337.7 million, alongside an increase in diluted EPS to $0.34, reflecting a positive outlook compared to the previous year's quarter. Hotel segment performance showed improvements in occupancy and RevPAR, supported by operational efficiencies despite slight increases in operating expenses.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.34
What stood out
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Revenue Growth
Total revenue rose to $337.7 million, up 3.1% from $327.7 million in Q1 2025.
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Improved EPS
Reported diluted EPS increased to $0.34, compared to $0.13 in Q4 2025.
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Strong Operating Metrics
Comparable Hotels achieved RevPAR of $114.61, up 2.2% versus $112.14 in Q1 2025.
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Effective Cost Management
General and administrative expenses increased by 17% but were kept at 3.2% of revenue.
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Cash Flow Improvement
Free cash flow for Q1 improved to $22 million from -$41 million in Q4 2025.
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Stable Debt Levels
Total debt remained consistent at approximately $1.6 billion with $558.8 million unused borrowing capacity.
What to watch
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Rising Interest Rates
Approximately 37% of total debt is subject to variable rates, increasing vulnerability to interest rate fluctuations.
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Geopolitical and Economic Risks
Continued geopolitical uncertainty could hamper business and leisure travel demand affecting RevPAR.
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Increased Operating Costs
Ongoing inflation may prevent the company from raising room rates sufficiently to offset rising operational costs.
Management's outlook
Management anticipates full-year 2026 RevPAR to modestly exceed 2025 levels, assuming no major changes in the macroeconomic environment.
Earlier filings 4
10-Q · November 3, 2025
Apple Hospitality reported total revenue of $373,878,000 for the three months ended September 30, 2025, roughly flat year-over-year (down 1.3%) but with operating income and EPS modestly lower. The company generated…
10-Q · November 4, 2024
Apple Hospitality reported third-quarter revenue of $378,843,000 (up $20,583,000 or ~5.8% versus $358,260,000 a year ago) and operating income of $77,726,000. EPS declined to $0.23 from $0.26 a year ago; management…
10-Q · May 6, 2024
Apple Hospitality reported Q1 revenue of $329.5M, up $18.1M (5.8%) versus $311.5M a year ago, with operating income of $71.6M and GAAP diluted EPS of $0.22 (vs. $0.14). Results were helped by a $17.8M gain on sale of…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.