NYSE$APLE
Apple Hospitality REIT Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Apple Hospitality reported strong operating performance driven by leisure demand and improving business travel.
Apple Hospitality REIT reported a net income of $65.3 million for the second quarter of 2023. Comparable Hotels RevPAR increased by 5% year-over-year, driven by improvements in both occupancy and ADR. The Company acquired the Courtyard Cleveland University Circle and continues to pursue strategic acquisitions to enhance shareholder value.
- Comparable Hotels RevPAR increased by 5% compared to the second quarter of 2022.
- Comparable Hotels ADR increased by 5% compared to the second quarter of 2022.
- Comparable Hotels Occupancy increased by nearly 1% compared to the second quarter of 2022.
- The Company acquired the Courtyard by Marriott Cleveland University Circle for $31 million.
Headline financials
Revenue & EPS history
Apple Hospitality · Revenue · Quarterly
$362M
Revenue by segment
Apple Hospitality · $347M total across 2 segments · Q2 2023
- Room Revenue$331M+6.0%95.5%
- Food & Beverage$15.5M+29.0%4.5%
Forward guidance
The Company is updating its operational and financial outlook for 2023. The reduction in the midpoint of the Company's guidance for Net Income and Adjusted EBITDAre is primarily a result of higher anticipated general and administrative expenses associated with outperformance of the Company's relative shareholder return metrics, which are components of the Company's incentive plans.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2023
-0.2%
Avg return
Earnings day
+0.2%
Avg return
5 days after
+0.3%
Avg return
30 days after
47%
20 / 43 earnings
Positive
+19.1%
Q1 2020
Best reaction
-9.0%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2025 | — | — | — | |
| Q1 2026 | -1.9% | +5.5% | +13.4% | |
| Q4 2025 | -1.0% | +0.4% | -2.5% | |
| Q3 2025 | -1.9% | +2.3% | +1.4% | |
| Q1 2025 | -0.1% | -3.1% | -1.1% | |
| Q4 2024 | -1.6% | +1.3% | -11.1% | |
| Q3 2024 | +0.5% | +8.5% | +9.6% | |
| Q2 2024 | -3.1% | -3.0% | -2.8% | |
| Q1 2024 | +1.2% | +1.1% | -2.5% | |
| Q4 2023 | +0.3% | -1.2% | +1.7% | |
| Q3 2023 | -6.0% | -5.3% | +0.9% | |
| Q2 2023 | +0.1% | +0.8% | +0.1% | |
| Q1 2023 | +1.4% | +4.2% | -0.7% | |
| Q4 2022 | -2.4% | -1.9% | -18.6% | |
| Q3 2022 | -2.7% | +1.6% | +2.3% | |
| Q2 2022 | -0.8% | -0.4% | -6.5% | |
| Q1 2022 | -3.4% | -5.1% | -2.8% | |
| Q4 2021 | -3.8% | +1.5% | +1.1% | |
| Q3 2021 | +0.4% | -1.9% | -9.6% | |
| Q2 2021 | +4.8% | +3.6% | +6.1% | |
| Q1 2021 | +1.4% | -2.1% | +3.1% | |
| Q4 2020 | +0.6% | -4.1% | +0.5% | |
| Q3 2020 | +1.0% | +16.1% | +24.7% | |
| Q2 2020 | +5.5% | +11.1% | +21.8% | |
| Q1 2020 | +19.1% | +12.1% | +32.5% | |
| Q4 2019 | -9.0% | -13.4% | -38.6% | |
| Q3 2019 | +0.9% | -1.0% | -3.9% | |
| Q2 2019 | +0.2% | +1.7% | +5.5% | |
| Q1 2019 | -0.5% | -0.1% | -4.7% | |
| Q4 2018 | -0.2% | -1.6% | -2.5% | |
| Q3 2018 | -2.2% | +0.4% | -2.9% | |
| Q2 2018 | -0.2% | -3.5% | -1.3% | |
| Q1 2018 | +0.5% | +1.0% | +3.9% | |
| Q4 2017 | -1.1% | -4.9% | -6.2% | |
| Q3 2017 | +1.0% | +1.4% | +3.1% | |
| Q2 2017 | -1.5% | -1.7% | +0.4% | |
| Q1 2017 | +0.9% | -2.1% | -0.7% | |
| Q4 2016 | -2.7% | -5.6% | -7.0% | |
| Q3 2016 | +0.6% | -1.0% | +11.5% | |
| Q2 2016 | -0.5% | -2.1% | -7.5% | |
| Q1 2016 | +0.5% | — | — | |
| Q4 2015 | -4.4% | — | — | |
| Q3 2015 | +2.3% | — | — | |
| Q2 2015 | +0.0% | — | — | |
| Q1 2015 | — | — | — | |
| Q4 2014 | — | — | — | |
| Q3 2014 | — | — | — | |
| Q2 2014 | — | — | — | |
| Q1 2014 | — | — | — | |
| Q4 2013 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — | |
| Q4 2012 | — | — | — | |
| Q3 2012 | — | — | — | |
| Q2 2012 | — | — | — | |
| Q1 2012 | — | — | — | |
| Q4 2011 | — | — | — | |
| Q3 2011 | — | — | — | |
| Q2 2011 | — | — | — | |
| Q1 2011 | — | — | — | |
| Q4 2010 | — | — | — | |
| Q3 2010 | — | — | — | |
| Q2 2010 | — | — | — | |
| Q1 2010 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro