Apple Hospitality Q1 EBITDAre Rises 2.2% as RevPAR Climbs 3.1%
Apple Hospitality REIT reported Q1 net income of $27.7 million, down 11.3%, while adjusted EBITDAre rose 2.2% to $100.6 million as RevPAR climbed 3.1% to $114.43. Portfolio occupancy rose 2.1% to 72.8%, April RevPAR jumped over 4%, and sale of Hampton Inn & Suites Rochester fetched about $9 million.
1. First Quarter Financial Results
Apple Hospitality REIT reported net income of $27.7 million for Q1, down 11.3%, operating income of $48.0 million, a 5.6% decrease, while adjusted EBITDAre rose 2.2% to $100.6 million and MFFO increased 1.9% to $80.3 million, or $0.34 per share.
2. Operational Performance
Comparable hotels achieved an average daily rate of $157.35, up 0.1%, occupancy of 72.8%, up 2.1%, and RevPAR of $114.61, up 2.2%, with preliminary April RevPAR growth exceeding 4%, reflecting resilient demand across key markets.
3. Portfolio and Capital Activities
As of March 31, the company owned 217 hotels with 29,583 rooms, carrying net debt of $1.564 billion at a 36.5% net debt-to-capital ratio and $7.8 million in cash; in April it sold its Hampton Inn & Suites Rochester for roughly $9 million to optimize its portfolio.
4. Outlook and Management Commentary
Management highlighted an efficient operating model and prudent expense control supporting bottom-line flow-through, noting geopolitical and macroeconomic uncertainties but expressing confidence in capturing demand across diversified, room-focused properties to drive long-term value.