Apple Hospitality REIT, Inc. Q3 2026 Earnings Recap

Apple Hospitality rose 4.1% after reporting accelerating RevPAR growth and raising its full-year outlook. The positive reaction aligns with stronger-than-expected-in-the-company’s-own-outlook business travel and improved margin guidance; the transcript does not provide consensus estimates.

Key Takeaways

• Comparable-hotel RevPAR grew more than 7% year over year in Q3, up from 5.4% in Q2. Preliminary October growth was approximately 10%.
• Management raised the midpoint of full-year comparable-hotel RevPAR growth guidance by 35 basis points to 5.6%, and the midpoint of adjusted hotel EBITDA margin guidance by 105 basis points to 35.25%.
• Q3 comparable-hotel adjusted EBITDA margin expanded by approximately 210 basis points. Adjusted EBITDAre grew more than 13%, and MFFO per share increased more than 16%.
• The company has contracted to sell five hotels for a combined $72 million, with closing expected by year-end. Including a hotel sold in April, the transactions total $81 million.
• Capital expenditures were $58 million through the first nine months; full-year investment is expected to be $85 million–$95 million, including renovations at 18 hotels.