APLE · Apple Hospitality REIT, Inc.

Apple Hospitality REIT's Q1 2026 results demonstrated resilient operating performance with Comparable Hotels RevPAR up 2.2% year-over-year, driven by a 2.1 percentage point increase in occupancy to 72.8% despite flat ADR growth of 0.1%. Same Store portfolio showed stronger RevPAR growth of 2.8% and Adjusted Hotel EBITDA expansion of 4.2%, achieving 30 basis points of margin improvement to 32.2%, reflecting efficient rooms-focused operations. Excluding one-time benefits from wildfire recovery and inauguration-related demand, core RevPAR growth accelerated to 3.7% with 100 bps margin gains. Preliminary April data signals continued momentum with over 4% RevPAR growth. Capital allocation remained disciplined, highlighted by the $9 million disposition of Hampton Inn & Suites Rochester-North and $27.5 million reinvested in improvements, supporting portfolio competitiveness with a 5-year average effective age. Balance sheet strength persists at 37% net debt to capitalization, $559 million revolver availability, and 207 unencumbered assets, providing flexibility amid 57% of hotels facing no nearby supply. Monthly dividends of $0.08 per share deliver a 7.1% annualized yield, enhancing total returns in a low-leverage structure.