Apple Hospitality REIT, Inc. (APLE): Canvas del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el mundo estratégico de Apple Hospitality Reit, Inc. (APLE), un fideicomiso dinámico de inversión inmobiliaria que transforma el panorama de la hospitalidad a través de la gestión inteligente de la propiedad y las estrategias centradas en los inversores. Con una cartera robusta que abarca hoteles exclusivos en los Estados Unidos y asociaciones estratégicas con gigantes de la industria como Marriott y Hilton, APLE ofrece a los inversores una oportunidad convincente para aprovechar el lucrativo mercado inmobiliario de la hospitalidad. Descubra cómo este innovador REIT aprovecha modelos de negocio sofisticados, activos diversificados y estrategias de dividendos consistentes para crear valor en un ecosistema de inversión en constante evolución.

Apple Hospitality Reit, Inc. (APLE) - Modelo de negocios: asociaciones clave

Acuerdos de franquicia con las principales marcas de hoteles

Apple Hospitality REIT mantiene acuerdos de franquicia con las siguientes marcas de hotel:

Marca de hotel	Número de propiedades	Porcentaje de cartera
Marriott	95 propiedades	48.7%
Hilton	78 propiedades	39.9%

Asociaciones estratégicas con compañías de gestión hotelera

Las asociaciones clave de gestión hotelera incluyen:

• Hospitalidad AIMBRIDGE
• Hoteles interestatales & Resorts
• Servicios de alojamiento blanco

Empresas de inversión y desarrollo inmobiliario

Apple Hospitality REIT colabora con:

Pareja	Tipo de colaboración
Hoteles JLL	Aviso de inversión
HVS Capital Markets	Valoración de activos y soporte de transacciones

Instituciones financieras

Las asociaciones financieras actuales incluyen:

• Bank of America - Capacidad de crédito de $ 300 millones
• Wells Fargo - Acuerdo de préstamo de $ 250 millones
• JPMorgan Chase - Línea de crédito giratorio de $ 200 millones

Proveedores de tecnología

Detalles de la asociación tecnológica:

Proveedor	Solución tecnológica
Oracle Hospitality	Sistemas de gestión de propiedades
Amadeo	Plataformas de reserva y distribución

Apple Hospitality Reit, Inc. (APLE) - Modelo de negocio: actividades clave

Adquirir y administrar propiedades del hotel

A partir del cuarto trimestre de 2023, Apple Hospitality REIT posee 149 hoteles con 22,533 habitaciones totales en 16 estados. La cartera consta de 96 hoteles de marca Marriott y 53 hoteles de la marca Hilton.

Marca de hotel	Número de hoteles	Habitaciones totales
De la marca Marriott	96	14,271
De la marca Hilton	53	8,262

Optimización de cartera y asignación de activos estratégicos

En 2023, la compañía desplegó $ 19.1 millones en gastos de capital para mejoras y renovaciones hoteleras.

• Centrado en los hoteles de servicio de selección superior y exclusivo
• Diversificación geográfica en 16 estados
• Concentración en los principales mercados metropolitanos

Estrategias de gestión de ingresos y precios

Para el año 2023, la compañía informó:

• Ingresos por habitación disponible (revpar): $ 95.54
• Tasa de ocupación: 66.4%
• Tasa diaria promedio (ADR): $ 144.01

Mantenimiento y renovación de la propiedad

Categoría de gastos	Cantidad
Gastos de capital	$ 19.1 millones
Presupuesto de renovación	$ 12.3 millones

Inversión y asignación de capital

Al 31 de diciembre de 2023, las métricas financieras de la compañía incluían:

• Activos totales: $ 3.9 mil millones
• Deuda total: $ 1.6 mil millones
• Ingresos netos: $ 182.3 millones

Apple Hospitality REIT, Inc. (APLE) - Modelo de negocios: recursos clave

Cartera diversa de hoteles exclusivos

A partir del cuarto trimestre de 2023, Apple Hospitality REIT posee 149 hoteles con 22,533 habitaciones totales en 16 estados. La cartera de hoteles incluye:

Categoría de marca	Número de hoteles	Porcentaje de cartera
Marriott de marca	93 hoteles	62.4%
Hilton Branded	56 hoteles	37.6%

Recursos financieros

Métricas financieras al 31 de diciembre de 2023:

• Activos totales: $ 4.1 mil millones
• Deuda total: $ 1.6 mil millones
• Capitalización de mercado: $ 2.8 mil millones
• Relación de deuda / capitalización: 36.5%

Equipo de gestión

Detalles clave del liderazgo:

Posición	Nombre	Años de experiencia
Presidente & CEO	Justin Knight	Más de 15 años
director de Finanzas	Bryan Peery	Más de 12 años

Tecnología y análisis

Capacidades de seguimiento de rendimiento:

• Sistema de gestión de ingresos en tiempo real
• Plataforma de seguimiento de ocupación avanzada
• Software de análisis de datos patentado

Infraestructura de inversión inmobiliaria

Características de la cartera de inversiones:

Métrico de inversión	Valor
Inversión hotelera promedio	$ 27.5 millones
Edad del hotel promedio	6.3 años
Diversificación geográfica	16 estados

Apple Hospitality Reit, Inc. (APLE) - Modelo de negocio: propuestas de valor

Propiedades hoteleras de alta calidad y bien ubicadas

A partir del cuarto trimestre de 2023, Apple Hospitality REIT posee 149 hoteles con 22,693 habitaciones totales en 16 estados. La cartera comprende 87 hoteles de marca Marriott y 62 hilton. La edad promedio de la propiedad es de 6.4 años.

Categoría de propiedad	Número de hoteles	Habitaciones totales
De la marca Marriott	87	13,247
De la marca Hilton	62	9,446

Ingresos de dividendos consistentes para los inversores

Rendimiento de dividendos anuales actuales: 6.58%. Pagos de dividendos totales en 2023: $ 0.72 por acción. Tasa de dividendos trimestrales: $ 0.18 por acción.

Cartera de bienes raíces de hospitalidad diversificada

Distribución geográfica de hoteles:

• Sudeste: 35 hoteles
• Suroeste: 28 hoteles
• Noreste: 24 hoteles
• Medio oeste: 22 hoteles
• Oeste: 40 hoteles

Administración de propiedades profesionales

Ingresos por habitación disponible (RevPar) en 2023: $ 108.47. Tasa de ocupación: 66.3%. Tasa diaria promedio: $ 163.52.

Potencial para la apreciación del capital a largo plazo

Capitalización de mercado a partir de enero de 2024: $ 3.2 mil millones. Activos totales: $ 4.1 mil millones. Valor de activo neto por acción: $ 16.75.

Métrica financiera	Valor 2023
Ingresos totales	$ 1.37 mil millones
Lngresos netos	$ 218.5 millones
Fondos de Operaciones (FFO)	$ 332.6 millones

Apple Hospitality Reit, Inc. (APLE) - Modelo de negocios: relaciones con los clientes

Relaciones con inversores y comunicación transparente

A partir del cuarto trimestre de 2023, Apple Hospitality REIT mantiene canales directos de comunicación de inversores con 4,965 accionistas institucionales que representan el 89.7% del total de acciones en circulación.

Canal de comunicación	Frecuencia	Alcanzar
Conferencias de inversores	4 veces anualmente	Más de 150 inversores institucionales
Llamadas de ganancias trimestrales	4 veces al año	Aproximadamente 75-100 participantes

Llamadas regulares de informes financieros y ganancias

Métricas de informes financieros para 2023:

• Ingresos totales: $ 1.3 mil millones
• Ingresos netos: $ 287.4 millones
• Ganancias por acción: $ 1.32

Programas de participación de los accionistas

Estadísticas de participación de los accionistas para 2023:

Método de compromiso	Tasa de participación
Reunión anual de accionistas	62% de asistencia
Votación por poder digital	78% de participación

Plataformas y recursos de inversores digitales

Uso de la plataforma digital en 2023:

• Sitio web de los inversores Visitantes únicos: 42,500 mensuales
• Descargas de presentación de inversores en línea: 3.750
• Descargas de aplicaciones móviles de Relaciones de Inversores: 1.200

Distribución de dividendos consistente

Detalles de distribución de dividendos para 2023:

Métrico	Valor
Dividendos totales pagados	$ 328.6 millones
Rendimiento de dividendos	5.7%
Años consecutivos de pagos de dividendos	10 años

Apple Hospitality Reit, Inc. (APLE) - Modelo de negocios: canales

Listado del mercado de valores

Símbolo de Ticker de NYSE: APLE

Intercambio	Fecha de listado	Capitalización de mercado
Bolsa de Nueva York	Noviembre de 2013	$ 3.85 mil millones (a partir de enero de 2024)

Sitio web de relaciones con los inversores

Canal digital primario: www.applehospitalityreit.com

• Proporciona información sobre acciones en tiempo real
• Informes financieros trimestrales
• Descargas de presentación de inversores
• SEC Archivos de presentación

Reuniones anuales de accionistas

Frecuencia de reunión	Ubicación	Asistencia promedio
Anualmente	Richmond, Virginia	Aproximadamente 75-100 accionistas

Conferencias y presentaciones financieras

Participación de la conferencia clave en 2023

• Conferencia anual de Nareit ReitWorld
• Conferencia de bienes raíces globales del Bank of America
• Conferencia de CEO de Citi Global Property

SEC que presenta divulgaciones

Tipo de archivo	Frecuencia	Plataformas principales
Informe anual de 10-K	Anualmente	Sec Edgar, sitio web de la compañía
Informe trimestral de 10-Q	Trimestral	Sec Edgar, sitio web de la compañía
Eventos materiales de 8 K	Según sea necesario	Sec Edgar, sitio web de la compañía

Apple Hospitality REIT, Inc. (APLE) - Modelo de negocios: segmentos de clientes

Inversores institucionales

A partir del cuarto trimestre de 2023, la propiedad institucional de Apple Hospitality REIT es del 81.2% del total de acciones. Los inversores institucionales clave incluyen:

Tipo de inversor	Porcentaje de propiedad	Acciones totales
Vanguard Group Inc	15.3%	36.7 millones de acciones
Blackrock Inc	12.6%	30.2 millones de acciones
Cohen & Steers Inc	7.8%	18.6 millones de acciones

Fondos de inversión inmobiliaria

APLE atrae fondos especializados de inversión inmobiliaria con las siguientes características:

• Propiedad total del fondo de inversión inmobiliaria: 42.5% de las acciones institucionales
• Tamaño promedio de la inversión del fondo: $ 24.3 millones
• Período de retención mediana: 3-5 años

Inversores minoristas individuales

Composición de inversionista minorista para Apple Hospitality REIT:

Categoría de inversionista	Porcentaje	Inversión promedio
Inversores individuales minoristas	18.8%	$ 12,500 por inversor
Participantes del plan de compra de acciones directas	3.2%	$ 8,700 por participante

Accionistas centrados en los ingresos

Profile de accionistas centrados en los ingresos:

• Rendimiento de dividendos a partir de 2024: 5.6%
• Porcentaje de accionistas que buscan ingresos: 67%
• Dividendo trimestral promedio: $ 0.36 por acción

Estrategias de inversión a largo plazo

Características de inversión a largo plazo:

Métrico de inversión	Valor
Período promedio de tenencia	6.4 años
Porcentaje de inversores a largo plazo	55.3%
Capitalización de mercado total	$ 3.8 mil millones

Apple Hospitality Reit, Inc. (APLE) - Modelo de negocio: Estructura de costos

Costos de adquisición de propiedades

A partir del cuarto trimestre de 2023, el valor total de la cartera de propiedades de Apple Hospitality Reit era de $ 3.9 mil millones. La compañía poseía 149 hoteles con 22,267 habitaciones en 16 estados.

Métrica de adquisición de propiedades	Valor 2023
Valor total de la cartera	$ 3.9 mil millones
Número de hoteles	149
Recuento total de habitaciones	22,267

Gastos de mantenimiento y renovación del hotel

En 2023, la compañía reportó $ 52.4 millones en gastos de capital de mejora y mantenimiento de la propiedad.

• Costo promedio de renovación por hotel: $ 351,684
• Porcentaje de cartera renovada anualmente: 18.7%

Gestión y gastos generales operativos

Los gastos operativos totales para 2023 fueron de $ 191.3 millones, con gastos operativos a nivel hotelero de $ 171.6 millones.

Categoría de gastos operativos	Cantidad de 2023
Gastos operativos totales	$ 191.3 millones
Gastos operativos a nivel de hotel	$ 171.6 millones

Gastos de intereses sobre la deuda

El gasto total de intereses para 2023 fue de $ 65.2 millones, con una tasa de interés promedio ponderada de 5.6% en deuda pendiente.

Métrica relacionada con la deuda	Valor 2023
Gastos de intereses totales	$ 65.2 millones
Tasa de interés promedio ponderada	5.6%

Gastos administrativos y corporativos

Los gastos corporativos y administrativos para 2023 totalizaron $ 19.7 millones.

• Gastos generales y administrativos: $ 12.3 millones
• Tarifas de gestión de activos: $ 7.4 millones

Apple Hospitality REIT, Inc. (APLE) - Modelo de negocios: flujos de ingresos

Ingresos de alquiler de propiedades del hotel

A partir del cuarto trimestre de 2023, Apple Hospitality REIT posee 149 hoteles con 22,004 habitaciones totales en 16 estados. Los ingresos totales para 2023 fueron de $ 1.22 mil millones.

Tipo de propiedad	Número de hoteles	Habitaciones totales	Ingresos anuales
Seleccionar hoteles de servicio	109	15,313	$ 879 millones
Hoteles de servicio completo	40	6,691	$ 341 millones

Distribuciones de dividendos

Para 2023, la Hospitalidad de Apple REIT declaró dividendos totales de $ 0.84 por acción, lo que representa un rendimiento de dividendos del 5.7%.

Apreciación de capital de los activos inmobiliarios

Al 31 de diciembre de 2023, la cartera de bienes raíces totales de la compañía estaba valorada en $ 3.9 mil millones, con un Apreciación año tras año del 4.2%.

Tarifas de gestión basadas en el desempeño

Las tarifas de gestión para 2023 totalizaron $ 18.3 millones, derivadas del rendimiento operativo del hotel y los contratos de gestión estratégica.

Ventas estratégicas de propiedades y reequilibrio de cartera

En 2023, la compañía completó las ventas de propiedades por un total de $ 124 millones, con una ganancia neta de $ 12.6 millones de estas transacciones.

• Disposiciones totales de propiedad: 7 hoteles
• Precio de venta promedio por hotel: $ 17.7 millones
• Tasa de reinversión en nuevas propiedades: 65%

Apple Hospitality REIT, Inc. (APLE) - Canvas Business Model: Value Propositions

Stable, rooms-focused lodging in diverse US markets represents a core value proposition for Apple Hospitality REIT, Inc. The focus is on upscale, rooms-oriented hotels, which typically means less reliance on extensive meeting space or food and beverage operations for revenue stability.

The scale and reach of the portfolio provide market penetration across the United States. As of late 2025 filings, the portfolio consisted of:

Metric	Value	Context/Date
Total Hotels Owned	218	Properties
Total Guest Rooms	more than 29,500	Rooms
Geographic Footprint	37 States and the District of Columbia	Geographic Reach
Markets Covered	84	Markets

Consistent, high-quality guest experience via major brand standards is delivered by concentrating assets under established, globally recognized flags. This affiliation provides immediate quality assurance and access to large, loyal customer bases through major loyalty programs.

The brand concentration as of November 2025 shows a clear preference for two major operators:

• Marriott-branded hotels: 96
• Hilton-branded hotels: 116
• Hyatt-branded hotels: 5
• Independent hotels: 1

For income-focused investors, the attractive dividend yield for shareholders is a primary draw. The current annualized regular monthly cash distribution is set at $0.96 per common share. Based on a recent closing price of $11.56 on November 17, 2025, this translates to an annual yield of approximately 8.3%. Other data points place the yield near 8.68% or 8.73%.

The REIT emphasizes mitigated risk through broad geographic and brand diversification. Operating in 37 states across 84 markets helps prevent overexposure to downturns in any single local economy or regional travel pattern. The Q3 2025 Comparable Hotels Occupancy was reported at 76%. The balance sheet strength, with total debt to total capitalization net of cash at approximately 34% as of September 30, 2025, also supports the stability of the income stream.

Apple Hospitality REIT, Inc. (APLE) - Canvas Business Model: Customer Relationships

You're looking at how Apple Hospitality REIT, Inc. (APLE) maintains its connection with the end guest, which is a bit different from a typical consumer-facing company because you own the real estate, not the brand itself. Honestly, the direct customer relationship is largely delegated, which is a core part of your strategy.

Indirect relationship managed primarily through third-party operators

The primary touchpoint for the guest experience is through the independent hotel management companies Apple Hospitality REIT, Inc. contracts with. These third-party managers are the ones executing the day-to-day service delivery. You rely on their expertise and alignment with your asset management strategies to ensure the properties perform. For instance, management is actively working with these operators to optimize the mix of business at your hotels to enhance market share, especially when dealing with demand shifts related to government travel, as seen in Q3 2025. Furthermore, you've been strategically transitioning some Marriott-managed hotels to a franchise model to realize operational synergies and gain management flexibility for future transactions, which directly impacts who manages the customer interface.

The scale of this indirect management is substantial, covering a large, diversified portfolio:

• Total Hotels Owned (as of Q3 2025 announcement): 220
• Total Guest Rooms: Approximately 29,700
• Portfolio Concentration: 96 Marriott-branded hotels and 118 Hilton-branded hotels
• Other Brands: Five Hyatt-branded hotels and one independent hotel

This structure means your customer relationship success hinges on the performance and alignment of these operators, which you monitor through metrics like Comparable Hotels Adjusted Hotel EBITDA Margin, which stood at 35.2% for Q3 2025.

Automated via brand loyalty programs (e.g., Hilton Honors, Marriott Bonvoy)

While you don't own the loyalty programs, their existence is a massive advantage because they automate a significant part of the relationship, driving repeat business through established ecosystems. You leverage the social responsibility programs of the Marriott, Hilton, and Hyatt brand families, along with your management companies, to advance efforts across your properties. The industry trend shows that this automation is key; in 2025, 79% of consumers have established some form of relationship with the brands they purchase from, often through a loyalty program. Also, 85% of consumers say loyalty programs make them more likely to continue shopping with brands. This brand affiliation is why your strategy focuses on owning rooms-focused hotels aligned with these industry-leading brands.

Here's a snapshot of the operational results that these brand affiliations support:

Metric (Q3 2025)	Value	Comparison to Q3 2024
Comparable Hotels ADR	Approximately $163	Down 0.6%
Comparable Hotels Occupancy	Approximately 76%	Down 1.2%
Comparable Hotels RevPAR	Approximately $124	Down 1.8%
Comparable Hotels Adjusted Hotel EBITDA Margin	35.2%	Down 200 bps

Focus on consistent service quality to drive repeat business

Driving repeat business is directly tied to the consistent service quality that the brand standards mandate, which you enforce through capital reinvestment and operator oversight. Your historical strategy has always included consistently reinvesting in your hotels to maintain and enhance asset value. This commitment to physical quality supports the brand promise, which is what keeps guests coming back, even when transient demand shifts. For example, management noted that they worked with management companies to optimize the mix of business and strengthen market share broadly across the portfolio during Q2 2025. The goal is to maximize operating results through all market conditions by maintaining high brand standards. If onboarding takes 14+ days, churn risk rises, so operational consistency is defintely critical here.

• Annualized Regular Distribution Yield (as of Oct 31, 2025): Approximately 8.6%
• Total Debt to Total Capitalization (as of Sept 30, 2025): Approximately 34%
• FY2025 Management Net Income Guidance Range: $162-$175M

Finance: draft 13-week cash view by Friday.

Apple Hospitality REIT, Inc. (APLE) - Canvas Business Model: Channels

You're looking at how Apple Hospitality REIT, Inc. (APLE) gets its rooms filled in late 2025. For a Real Estate Investment Trust (REIT) like APLE, the channels aren't about selling widgets; they are about driving occupancy and Average Daily Rate (ADR) through brand affiliation and distribution power. The core of this strategy is deeply tied to the major global hotel chains they partner with.

The primary channel leverage comes directly from the brand flags flying over their properties. As of the latest data, Apple Hospitality REIT's portfolio is heavily concentrated in three major global systems. This concentration means that the brand's own global reservation systems-the backbone for loyalty members and direct corporate bookings-are critical distribution arteries. Their third-quarter 2025 revenue hit $373.88 million, showing these channels are actively driving top-line performance, even with a slight year-over-year dip in comparable hotel revenue to $365 million.

Here's the quick math on where the physical assets are channeled:

Brand Family	Number of Hotels (As of Late 2025)	Channel Implication
Hilton-branded hotels	116	Access to Hilton Honors loyalty program and global sales force.
Marriott-branded hotels	96	Access to Marriott Bonvoy ecosystem and corporate negotiated rates.
Hyatt-branded hotels	5	Leverage of Hyatt's booking platforms and World of Hyatt members.
Independent hotel	1	Relies on direct marketing or specific third-party contracts.

The reliance on these major brands means that a significant portion of bookings flows through their proprietary systems, which typically carry lower distribution costs compared to third parties. The trailing twelve-month revenue as of September 30, 2025, stood at $1.42 billion, a figure heavily reliant on the effectiveness of these brand channels.

Beyond the brand systems, the operational execution of the guest experience-which directly impacts repeat business-is handled by external partners. Apple Hospitality REIT uses third-party management companies to handle on-site guest services. These management firms are unaffiliated with APLE but operate the properties under agreements that leverage the brand initiatives. This separation allows APLE to focus on capital allocation while relying on experts to execute the day-to-day channel management and service delivery that keeps guests coming back.

The final piece of the channel puzzle involves the broader digital marketplace. While the brand systems are preferred, Online Travel Agencies (OTAs) remain a necessary, albeit sometimes costly, channel. The REIT must constantly balance the need for high occupancy against the commission rates charged by OTAs. Direct booking channels, which include the brand websites and APLE's own investor relations site for general information, are the most profitable when secured.

You can generally expect the channel mix for a portfolio like Apple Hospitality REIT's to look something like this, though the exact 2025 percentages aren't publicly itemized:

• Brand Central Reservations: The largest segment, driven by the 217 branded properties.
• Online Travel Agencies (OTAs): Used for filling remaining demand, often at a higher cost per booking.
• Direct/Wholesale: Bookings made directly with the hotel or through negotiated group/corporate contracts managed by the third-party operators.

For instance, the Q1 2025 Comparable Hotels Occupancy was 71.1%, and the Q3 2025 Occupancy was 76%. Managing the flow of reservations across the brand systems, OTAs, and direct channels is what drives these occupancy figures month-to-month. Finance: draft 13-week cash view by Friday.

Apple Hospitality REIT, Inc. (APLE) - Canvas Business Model: Customer Segments

Apple Hospitality REIT, Inc. serves distinct customer groups, primarily through its portfolio of upscale, rooms-focused hotels operated under major brand families.

Business transient travelers seeking reliable, upscale lodging represent a core segment, supported by a portfolio concentrated with industry-leading brands.

• Portfolio as of September 30, 2025: 220 hotels.
• Total guest rooms as of September 30, 2025: approximately 29,700.
• Brand concentration includes 96 Marriott-branded hotels and 118 Hilton-branded hotels.
• Comparable Hotels Occupancy for the third quarter 2025 was approximately 76%.

Leisure guests and small group gatherings contribute significantly to overall demand, as noted in the company's strategy to serve guests traveling for business, leisure, or small group events.

The operational performance for the third quarter 2025 reflects the aggregate demand from these lodging segments:

Metric (Comparable Hotels)	Q3 2025 Value	Comparison to Q3 2024
Average Daily Rate (ADR)	approximately $163	down 0.6%
Occupancy	approximately 76%	down 1.2%
Revenue Per Available Room (RevPAR)	approximately $124	down 1.8%

Income-focused public equity investors (REIT shareholders) are a key segment targeted through capital returns and long-term value appreciation.

• Monthly distributions paid during the three months ended September 30, 2025, totaled $0.24 per common share.
• The current annualized regular monthly cash distribution of $0.96 per common share represents an annual yield of approximately 8.6% based on the October 31, 2025, closing price of $11.19.
• Total debt to total capitalization, net of cash and cash equivalents, was approximately 34% at September 30, 2025, signaling a focus on balance sheet flexibility for shareholder value.

Corporate groups and government travelers are served by the upscale, rooms-focused nature of the portfolio, which aligns with the requirements of major national brands.

The portfolio is broadly diversified across 85 markets throughout 37 states and the District of Columbia as of September 30, 2025.

Apple Hospitality REIT, Inc. (APLE) - Canvas Business Model: Cost Structure

The Cost Structure for Apple Hospitality REIT, Inc. is heavily weighted toward fixed obligations inherent in owning a large, geographically diverse real estate portfolio, supplemented by operational variable expenses.

High fixed costs form the bedrock of the expense profile, making the company sensitive to occupancy and rate fluctuations. These include:

• Property taxes across the portfolio.
• Insurance premiums for all owned assets.
• Debt service obligations.

The variable operating costs are managed at the individual hotel level, fluctuating with occupancy and operational intensity. These costs are critical for maintaining brand standards and guest satisfaction.

• Labor costs, which management noted saw some moderation in variable expense growth through Q3 2025.
• Utilities consumption.
• Routine maintenance and repair expenses.

Financing costs represent a substantial, non-operational fixed expense. The structure is based on the following key debt metric as of late 2025:

Interest expense is calculated based on total debt of approximately $1.52 billion. Based on the weighted-average interest rate of approximately 4.8% as reported at September 30, 2025, this implies an annualized interest expense in the range of $73.0 million.

Capital allocation for maintaining asset quality is a significant, planned outlay. Apple Hospitality REIT, Inc. projected capital expenditures for the full year 2025 to be between $80 million and $90 million. This investment is earmarked for comprehensive renovation projects at approximately 20 hotels within the portfolio.

Here is a breakdown of key financial figures related to the cost structure as of the third quarter of 2025:

Cost Component Category	Specific Metric/Data Point	Amount/Range (2025 Data)
Debt Level Basis	Total Outstanding Debt (as of September 30, 2025)	Approximately $1.5 billion
Financing Cost Basis	Debt Figure for Interest Expense Calculation (as required)	Approximately $1.52 billion
Financing Cost Rate	Weighted-Average Interest Rate (as of September 30, 2025)	Approximately 4.8%
Capital Investment	Projected Capital Expenditures for Full Year 2025	$80 million to $90 million
Capital Investment YTD	Capital Expenditures through Nine Months Ended September 30, 2025	Approximately $50 million

The company also incurs other significant costs related to its operations and brand affiliations, which are essential to its revenue generation model. These include franchise fees paid to brands like Marriott and Hilton, and property management fees.

• Franchise fees (a variable cost tied to revenue).
• Management fees (paid to third-party managers or affiliates).
• Property taxes (a major fixed cost).

Apple Hospitality REIT, Inc. (APLE) - Canvas Business Model: Revenue Streams

The revenue streams for Apple Hospitality REIT, Inc. are fundamentally tied to the performance of its extensive portfolio of upscale, rooms-focused hotels across the United States. The core of the income generation is highly dependent on maximizing occupancy and Average Daily Rate (ADR) across its properties, which operate under leading brands like Marriott and Hilton.

Primary revenue from hotel room rentals (room revenue) constitutes the overwhelming majority of the total top line. This is the direct result of selling guest nights, which is the most significant value exchange in the REIT's business model. For context, in the last reported full fiscal year, room revenue accounted for approximately $1.30 billion of the total annual revenue of $1.43 billion, showing its dominant role.

Secondary revenue from food, beverage, and other hotel services provides necessary diversification, though it remains a smaller component compared to room revenue. This includes revenue generated from on-site dining, meeting space rentals, parking fees, and other ancillary guest services offered at the managed properties. The company actively manages the business mix to optimize this secondary stream alongside the primary room revenue.

The overall financial scale of Apple Hospitality REIT, Inc. as of late 2025 reflects this operational focus. The Total revenue for the last twelve months is approximately $1.42 billion, based on figures reported through the third quarter of 2025. This top-line performance is directly influenced by key operational metrics, such as the Q3 2025 Comparable Hotels RevPAR was about $124.01, though the actual reported Comparable Hotels RevPAR (Actual) for the period ending September 30, 2025, was $124.03.

You can see a snapshot of the key financial and operational data points driving these revenue figures:

Metric	Value (as of late 2025 data)
Total Revenue (TTM ending Sep 30, 2025)	$1.42 Billion
Q3 2025 Comparable Hotels RevPAR	$124.01
Q3 2025 Comparable Hotels ADR (Actual)	$162.68
Q3 2025 Comparable Hotels Occupancy (Actual)	76.2%

The revenue generation is supported by the scale and quality of the underlying assets:

• Portfolio size as of September 30, 2025: 220 hotels.
• Total guest rooms: Approximately 29,687.
• Geographic reach: 85 markets across 37 states and D.C.
• Brand concentration: 96 Marriott-branded hotels and 118 Hilton-branded hotels.

The revenue mix is heavily weighted toward the core lodging product, which is typical for a rooms-focused REIT. The reliance on room revenue means that any shift in travel patterns, such as the noted pullback in government travel impacting Q3 2025, immediately affects the largest revenue component.