Apple Hospitality Reit, Inc. (APLE): Business Model Canvas [Jan-2025 Mis à jour]

Plongez dans le monde stratégique d'Apple Hospitality Reit, Inc. (APLE), une fiducie de placement immobilier dynamique qui transforme le paysage de l'hôtellerie grâce à la gestion immobilière intelligente et aux stratégies axées sur les investisseurs. Avec un portefeuille robuste couvrant des hôtels haut de gamme à travers les États-Unis et des partenariats stratégiques avec des géants de l'industrie comme Marriott et Hilton, APLE offre aux investisseurs une opportunité convaincante de puiser sur le marché immobilier lucratif de l'hospitalité. Découvrez comment cette FPI innovante exploite des modèles commerciaux sophistiqués, des actifs diversifiés et des stratégies de dividendes cohérentes pour créer de la valeur dans un écosystème d'investissement en constante évolution.

Apple Hospitality Reit, Inc. (APLE) - Modèle commercial: partenariats clés

Accords de franchise avec les grandes marques hôtelières

Apple Hospitality REIT conserve des accords de franchise avec les marques d'hôtel suivantes:

Marque d'hôtel	Nombre de propriétés	Pourcentage de portefeuille
Marriott	95 propriétés	48.7%
Hilton	78 propriétés	39.9%

Partenariats stratégiques avec les sociétés de gestion hôtelière

Les principaux partenariats de gestion hôtelière comprennent:

• Hospitalité AIMBRIDGE
• Hôtels interétatiques & Stations balnéaires
• Services d'hébergement blanc

Entreprises d'investissement immobilier et de développement

Apple Hospitality REIT collabore avec:

Partenaire	Type de collaboration
Hôtels JLL	Avis d'investissement
Marchés des capitaux HVS	Évaluation des actifs et support de transaction

Institutions financières

Les partenariats financiers actuels comprennent:

• Bank of America - Facilité de crédit de 300 millions de dollars
• Wells Fargo - Arrangement de prêt de 250 millions de dollars
• JPMorgan Chase - Ligne de crédit renouvelable de 200 millions de dollars

Fournisseurs de technologies

Détails du partenariat technologique:

Fournisseur	Solution technologique
Hospitalité Oracle	Systèmes de gestion immobilière
Amadeus	Plate-formes de réservation et de distribution

Apple Hospitality Reit, Inc. (APLE) - Modèle d'entreprise: activités clés

Acquérir et gérer les propriétés de l'hôtel

Au quatrième trimestre 2023, Apple Hospitality REIT possède 149 hôtels avec 22 533 chambres au total dans 16 États. Le portefeuille se compose de 96 hôtels de marque Marriott et 53 hôtels de marque Hilton.

Marque d'hôtel	Nombre d'hôtels	Total Rooms
Marriott	96	14,271
Hilton	53	8,262

Optimisation du portefeuille et allocation des actifs stratégiques

En 2023, la société a déployé 19,1 millions de dollars de dépenses en capital pour les améliorations et les rénovations des hôtels.

• Axé sur les hôtels de service sélectif supérieur et haut de gamme
• Diversification géographique dans 16 États
• Concentration sur les marchés métropolitains supérieurs

Gestion des revenus et stratégies de tarification

Pour l'année 2023, la société a rapporté:

• Revenus par salle disponible (RevPAR): 95,54 $
• Taux d'occupation: 66,4%
• Taux quotidien moyen (ADR): 144,01 $

Entretien et rénovation des biens

Catégorie de dépenses	Montant
Dépenses en capital	19,1 millions de dollars
Budget de rénovation	12,3 millions de dollars

Investissement et allocation des capitaux

Au 31 décembre 2023, les mesures financières de la société comprenaient:

• Total des actifs: 3,9 milliards de dollars
• Dette totale: 1,6 milliard de dollars
• Revenu net: 182,3 millions de dollars

Apple Hospitality Reit, Inc. (APLE) - Modèle d'entreprise: Ressources clés

Portfolio diversifié d'hôtels haut de gamme

Au quatrième trimestre 2023, Apple Hospitality REIT possède 149 hôtels avec 22 533 chambres au total dans 16 États. Le portefeuille d'hôtel comprend:

Catégorie de marque	Nombre d'hôtels	Pourcentage de portefeuille
Marriott de marque	93 hôtels	62.4%
Hilton de marque	56 hôtels	37.6%

Ressources financières

Mesures financières au 31 décembre 2023:

• Actif total: 4,1 milliards de dollars
• Dette totale: 1,6 milliard de dollars
• Capitalisation boursière: 2,8 milliards de dollars
• Ratio dette / capitalisation: 36,5%

Équipe de direction

Détails clés du leadership:

Position	Nom	Années d'expérience
Président & PDG	Justin Knight	15 ans et plus
Directeur financier	Bryan Peery	12 ans et plus

Technologie et analyse

Capacités de suivi des performances:

• Système de gestion des revenus en temps réel
• Plate-forme de suivi de l'occupation avancée
• Logiciel d'analyse de données propriétaire

Infrastructure d'investissement immobilier

Caractéristiques du portefeuille d'investissement:

Métrique d'investissement	Valeur
Investissement moyen de l'hôtel	27,5 millions de dollars
Âge de l'hôtel moyen	6,3 ans
Diversification géographique	16 États

Apple Hospitality Reit, Inc. (APLE) - Modèle d'entreprise: propositions de valeur

Propriétés de l'hôtel de haute qualité et bien situées

Au quatrième trimestre 2023, Apple Hospitality REIT possède 149 hôtels avec 22 693 salles totales dans 16 États. Le portefeuille comprend 87 hôtels de marque Marriott et 62 hôtels de marque Hilton. L'âge moyen des propriétés est de 6,4 ans.

Catégorie de propriété	Nombre d'hôtels	Total Rooms
Marriott	87	13,247
Hilton	62	9,446

Revenu de dividende cohérent pour les investisseurs

Rendement de dividende annuel actuel: 6,58%. Paiements totaux de dividendes en 2023: 0,72 $ par action. Taux de dividende trimestriel: 0,18 $ par action.

Portefeuille immobilier hospitalié diversifié

Distribution géographique des hôtels:

• Sud-Est: 35 hôtels
• Sud-Ouest: 28 hôtels
• Nord-Est: 24 hôtels
• Midwest: 22 hôtels
• Ouest: 40 hôtels

Gestion immobilière professionnelle

Revenus par salle disponible (REVPAR) en 2023: 108,47 $. Taux d'occupation: 66,3%. Taux quotidien moyen: 163,52 $.

Potentiel d'appréciation du capital à long terme

Capitalisation boursière en janvier 2024: 3,2 milliards de dollars. Actif total: 4,1 milliards de dollars. Valeur de l'actif net par action: 16,75 $.

Métrique financière	Valeur 2023
Revenus totaux	1,37 milliard de dollars
Revenu net	218,5 millions de dollars
Fonds des opérations (FFO)	332,6 millions de dollars

Apple Hospitality Reit, Inc. (APLE) - Modèle d'entreprise: relations avec les clients

Relations avec les investisseurs et communication transparente

Au quatrième trimestre 2023, Apple Hospitality REIT maintient les canaux de communication des investisseurs directs avec 4 965 actionnaires institutionnels représentant 89,7% du total des actions en circulation.

Canal de communication	Fréquence	Atteindre
Conférences d'investisseurs	4 fois par an	Plus de 150 investisseurs institutionnels
Appels de résultats trimestriels	4 fois par an	Environ 75 à 100 participants

Rapports financiers réguliers et appels de revenus

Métriques d'information financière pour 2023:

• Revenu total: 1,3 milliard de dollars
• Revenu net: 287,4 millions de dollars
• Bénéfice par action: 1,32 $

Programmes d'engagement des actionnaires

Statistiques d'engagement des actionnaires pour 2023:

Méthode d'engagement	Taux de participation
Réunion des actionnaires annuelle	62% de fréquentation
Vote du proxy numérique	Participation de 78%

Plateformes et ressources d'investisseurs numériques

Utilisation de la plate-forme numérique en 2023:

• Site Web des investisseurs Visiteurs uniques: 42 500 mensuels
• Téléchargements de présentation des investisseurs en ligne: 3 750
• Relations d'investisseurs Téléchargements d'applications mobiles: 1 200

Distribution de dividendes cohérente

Détails de la distribution des dividendes pour 2023:

Métrique	Valeur
Total des dividendes versés	328,6 millions de dollars
Rendement des dividendes	5.7%
Années consécutives de paiements de dividendes	10 ans

Apple Hospitality Reit, Inc. (APLE) - Modèle d'entreprise: canaux

Cotation boursière

Symbole de ticker NYSE: aple

Échange	Date d'inscription	Capitalisation boursière
Bourse de New York	Novembre 2013	3,85 milliards de dollars (à partir de janvier 2024)

Site Web de relations avec les investisseurs

Channel numérique principal: www.applehospitalityreit.com

• Fournit des informations sur les stocks en temps réel
• Rapports financiers trimestriels
• Téléchargements de présentation des investisseurs
• Archives de classement de la SEC

Réunions annuelles des actionnaires

Réunion de la fréquence	Emplacement	Fréquentation moyenne
Annuellement	Richmond, Virginie	Environ 75-100 actionnaires

Conférences et présentations financières

Participation clé de la conférence en 2023

• Conférence annuelle de Nareit Reitworld
• Conférence immobilière mondiale de Bank of America
• Conférence Citi Global Property PDG

Divulgations de classement de la SEC

Type de classement	Fréquence	Plates-formes primaires
Rapport annuel de 10 K	Annuellement	Sec Edgar, site Web de l'entreprise
Rapport trimestriel 10-Q	Trimestriel	Sec Edgar, site Web de l'entreprise
Événements matériels 8-K	Au besoin	Sec Edgar, site Web de l'entreprise

Apple Hospitality Reit, Inc. (APLE) - Modèle d'entreprise: segments de clientèle

Investisseurs institutionnels

Au quatrième trimestre 2023, la propriété institutionnelle d'Apple Hospitality REIT représente 81,2% du total des actions. Les investisseurs institutionnels clés comprennent:

Type d'investisseur	Pourcentage de propriété	Total des actions
Vanguard Group Inc	15.3%	36,7 millions d'actions
BlackRock Inc	12.6%	30,2 millions d'actions
Cohen & Steers Inc	7.8%	18,6 millions d'actions

Fonds d'investissement immobilier

APLE attire des fonds d'investissement immobilier spécialisés avec les caractéristiques suivantes:

• Propriété totale des fonds d'investissement immobilier: 42,5% des actions institutionnelles
• Taille moyenne des investissements du fonds: 24,3 millions de dollars
• Période de maintien médian: 3-5 ans

Investisseurs de détail individuels

Composition des investisseurs de détail pour Apple Hospitality REIT:

Catégorie d'investisseurs	Pourcentage	Investissement moyen
Investisseurs individuels de vente au détail	18.8%	12 500 $ par investisseur
Participants du plan d'achat d'actions directes	3.2%	8 700 $ par participant

Actionnaires axés sur le revenu

Profile des actionnaires axés sur le revenu:

• Rendement des dividendes à partir de 2024: 5,6%
• Pourcentage des actionnaires à la recherche de revenus: 67%
• Dividende trimestriel moyen: 0,36 $ par action

Stratèges d'investissement à long terme

Caractéristiques d'investissement à long terme:

Métrique d'investissement	Valeur
Période de détention moyenne	6,4 ans
Pourcentage d'investisseurs à long terme	55.3%
Capitalisation boursière totale	3,8 milliards de dollars

Apple Hospitality Reit, Inc. (APLE) - Modèle d'entreprise: Structure des coûts

Coûts d'acquisition de propriétés

Au quatrième trimestre 2023, la valeur totale du portefeuille de propriété d'Apple Hospitality REIT était de 3,9 milliards de dollars. L'entreprise possédait 149 hôtels avec 22 267 chambres dans 16 États.

Métrique d'acquisition de biens	Valeur 2023
Valeur totale du portefeuille	3,9 milliards de dollars
Nombre d'hôtels	149
Nombre de chambres totales	22,267

Dépenses d'entretien et de rénovation de l'hôtel

En 2023, la Société a déclaré 52,4 millions de dollars en dépenses en capital de l'amélioration des biens et de la maintenance.

• Coût moyen de rénovation par hôtel: 351 684 $
• Pourcentage du portefeuille rénové chaque année: 18,7%

Gestion et frais généraux opérationnels

Les dépenses opérationnelles totales pour 2023 étaient de 191,3 millions de dollars, avec des frais d'exploitation au niveau de l'hôtel de 171,6 millions de dollars.

Catégorie de dépenses opérationnelles	2023 Montant
Dépenses opérationnelles totales	191,3 millions de dollars
Dépenses d'exploitation au niveau de l'hôtel	171,6 millions de dollars

Dépenses d'intérêt sur la dette

Les intérêts totaux pour 2023 étaient de 65,2 millions de dollars, avec un taux d'intérêt moyen pondéré de 5,6% sur la dette en circulation.

Métrique liée à la dette	Valeur 2023
Intérêts totaux	65,2 millions de dollars
Taux d'intérêt moyen pondéré	5.6%

Dépenses administratives et d'entreprise

Les frais d'entreprise et administratif pour 2023 ont totalisé 19,7 millions de dollars.

• Frais généraux et administratifs: 12,3 millions de dollars
• Frais de gestion des actifs: 7,4 millions de dollars

Apple Hospitality Reit, Inc. (APLE) - Modèle d'entreprise: Strots de revenus

Revenu de location de biens de l'hôtel

Au quatrième trimestre 2023, Apple Hospitality REIT possède 149 hôtels avec 22 004 salles totales dans 16 États. Le chiffre d'affaires total pour 2023 était de 1,22 milliard de dollars.

Type de propriété	Nombre d'hôtels	Total Rooms	Revenus annuels
Sélectionnez des hôtels de service	109	15,313	879 millions de dollars
Hôtels à service complet	40	6,691	341 millions de dollars

Distributions de dividendes

Pour 2023, Apple Hospitality REIT a déclaré des dividendes totaux de 0,84 $ par action, ce qui représente un rendement de dividende de 5,7%.

Appréciation du capital des actifs immobiliers

Au 31 décembre 2023, le portefeuille immobilier total de la société était évalué à 3,9 milliards de dollars, avec un Appréciation d'une année à l'autre de 4,2%.

Frais de gestion basés sur la performance

Les frais de gestion pour 2023 ont totalisé 18,3 millions de dollars, dérivé de la performance opérationnelle hôtelière et des contrats de gestion stratégique.

Ventes de propriétés stratégiques et rééquilibrage du portefeuille

En 2023, la société a terminé les ventes de biens totalisant 124 millions de dollars, avec un gain net de 12,6 millions de dollars sur ces transactions.

• Total des dispositions de propriété: 7 hôtels
• Prix ​​de vente moyen par hôtel: 17,7 millions de dollars
• Taux de réinvestissement dans les nouvelles propriétés: 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.