NYSE$APLE
Apple Hospitality REIT Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Reported strong operating performance driven by RevPAR and ADR growth.
Apple Hospitality REIT reported its Q4 2022 earnings, with RevPAR growth of approximately 7% compared to Q4 2019, driven by meaningful improvement in rate. The Company acquired two hotels for a total combined purchase price of $85 million. The Company's total debt to total capitalization, net of cash and cash equivalents, was approximately 28%.
- Achieved RevPAR growth of approximately 7% as compared to the fourth quarter 2019.
- ADR for the fourth quarter 2022 was $147, approximately 12% ahead of fourth quarter 2019 ADR.
- Acquired the AC Hotel by Marriott Louisville Downtown and the AC Hotel by Marriott Pittsburgh Downtown for a total combined purchase price of $85 million.
- Total debt to total capitalization, net of cash and cash equivalents, was approximately 28%.
Headline financials
Revenue & EPS history
Apple Hospitality · Revenue · Quarterly
$299M
Revenue by segment
Apple Hospitality · $341M total across 2 segments · Q3 2023
- Room Revenue$327M—96.0%
- Food & Beverage$13.6M—4.0%
Forward guidance
The Company is providing its operational and financial outlook for 2023, with Comparable Hotels RevPAR Change between 3.0% and 7.0%.
Tailwinds
- Results for the first quarter 2023 are expected to benefit significantly from the easier comparison to the first quarter 2022 when the Omicron variant negatively impacted lodging demand.
- The high end of the full year range reflects relatively steady macroeconomic conditions throughout 2023.
- Continued strength in leisure demand.
- Improvement in business transient.
- Net income between $165 Million and $209 Million
Headwinds
- Meaningful macroeconomic uncertainty.
- Short-term booking windows for the Company's portfolio of rooms-focused hotels.
- The low end of the range reflects a softening of the economy beginning in the second quarter with Comparable Hotels RevPAR Change roughly flat compared to 2022 in the second half of the year.
- Capital expenditures between $70 Million and $80 Million
- Adjusted EBITDAre between $420 Million and $457 Million
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 Q4 2022
-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