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AI brief of an SEC Form 8-K · Apple Hospitality REIT (APLE)

Apple Hospitality REIT Q2 net income rises 13%, but 2024 outlook is cut

Mixed Impact 4 of 5 guidance Written later

Apple Hospitality REIT reported second-quarter 2024 net income of $73.9 million, up 13.2% from a year earlier, and EPS of $0.31 versus $0.29. The company also lowered its 2024 outlook, decreasing net income guidance by $6 million and Adjusted EBITDAre guidance by $7 million at the midpoint, which lowers the expected earnings for shareholders.

Key points

  • Q2 2024 net income was $73.9 million versus $65.3 million in Q2 2023; EPS was $0.31 versus $0.29.
  • Adjusted EBITDAre was $140.9 million, up 9.1%; MFFO was $121.3 million, up 8.9%.
  • Updated 2024 guidance: net income of $202 million to $225 million and Adjusted EBITDAre of $456 million to $474 million, with Comparable Hotels RevPAR change cut by 150 bps at the midpoint.
  • Preliminary July 2024 Comparable Hotels occupancy was approximately 77%, flat versus July 2023, with ADR down slightly.

The filing

CompanyApple Hospitality REIT (APLE)
Form8-K, current report
Filed with the SECAug 5, 2024, 4:15 PM ET
Accession number0000950170-24-090772

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, 12:59 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 August 05, 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.