Flash FinanceUS
Market closed · weekend S&P 5007,376.86+0.31% Nasdaq24,579.42+1.09% Dow 3051,285.73-0.46% Russell 20002,754.11+0.89% Nasdaq-10026,989.99+1.35% MidCap 4003,602.50+0.56% SmallCap 6001,673.98+0.05% VIX25.64-9.01% 10Y Yield4.86+0.45% Close of Nov 06, 2026
AI brief of an SEC Form 8-K · Apple Hospitality REIT (APLE)

Apple Hospitality REIT Q1 net income rises 64% to $54 million; raises 2024 outlook

Positive Impact 4 of 5 earnings Written later

Apple Hospitality REIT reported first-quarter 2024 net income of $54 million, up 64% from a year earlier, on total revenue of $329.5 million, up from $311.5 million. The company raised the midpoint of its full-year 2024 net income guidance by $16 million, attributing the increase to its March acquisition of the AC Hotel Washington DC Convention Center. Comparable hotel adjusted EBITDA fell 3.2%, while comparable RevPAR was flat at $111.09.

Key points

  • Q1 2024 net income was $54 million, or $0.22 per share, versus $33 million, or $0.14 per share, in Q1 2023.
  • Adjusted EBITDAre was $101 million, up 6% from Q1 2023; MFFO was $83 million, up 5%.
  • 2024 net income guidance is $207 million to $233 million, with the midpoint raised by $16 million; Adjusted EBITDAre guidance is $461 million to $483 million, with the midpoint raised by $9 million.
  • Comparable Hotels Adjusted Hotel EBITDA fell 3.2% to $111.7 million; the company's April 2024 occupancy was approximately 80%.

The filing

CompanyApple Hospitality REIT (APLE)
Form8-K, current report
Filed with the SECMay 6, 2024, 4:15 PM ET
Accession number0000950170-24-053568

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:00 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 06, 2024.

Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.