Apple Hospitality Reit, Inc. · NYSE:APLE
Apple Hospitality Reit — Investor Presentation (September 2026)
48 slides from Apple Hospitality Reit's investor presentation, September 2026
Slide 1: Investor Presentation
IN VE ST O R P RESENTATION SEPTEMBER 2026 • NYSE:APLE
Slide 2: Forward-Looking Statements
F O R WA R D - L O O K I N G S TAT E M E N T S Certain statements made in this presentation are forward-looking statements. These forward-looking statements include statements regarding our intent, belief or current expectations and are based on various assumptions. These statements involve substant
Slide 3: Company Profile and Proven Investment Strategy
C O M PA N Y P R O F I L E A N D P R O V E N I N V E S T M E N T S T R AT E G Y Apple Hospitality is a publicly traded real estate investment trust that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States. Scale Ownership of Upscale, Industry-Lea
Slide 4: Company Overview
C O M PA N Y O V E R V I E W $1.4 Billion $1.55 $240.4 Million IN REVENUE 2 0 2 5 M F F O P E R S H A R E (1) D I S T R I B U T I O N S PA I D Full Year 2025 $0.74 Net Income Per Share In 2025 +12.7 ppts 6.0% +20.5 ppts TSR Outperformance vs. Dow Jones U.S. Real Estate A N N U A L Y I E L D (2) TSR
Slide 5: Management Team with Deep Industry Experience
MANAGEMENT TEAM WITH DEEP INDUSTRY E X P E R I E N C E O V E R M U LT I P L E H O T E L C Y C L E S • Average executive tenure with the Apple REIT Companies MISSION We are a leading real estate investment is 20 years company committed to increasing shareholder • Established and operated 8 public hos
Slide 6: Proven Investment Strategy
P R O V E N I N V E S T M E N T S T R AT E G Y • Efficient operating model yields higher margins • Resilient group business ✓ Concentrate on Upscale, • Scale ownership minimizes relative G&A load and provides fixed rooms-focused hotels cost efficiencies • Unparalleled access to data and operational
Slide 7: Q2 2026 Key Takeaways
Q2 2026 KEY TAKEAWAYS OPERATING PERFORMANCE EXCEEDED EXPECTATIONS • Comparable Hotels RevPAR +5.3% • Comparable Hotels Adjusted Hotel EBITDA Margin expansion of 120 bps • FIFA World Cup 2026 events drove incremental demand and pricing power but were not the primary driver of outperformance in Q2, wi
Slide 8: Second Quarter 2026 Performance at a Glance
YEAR-OVER-YEAR PERFORMANCE Second Quarter 2026 Performance at a Glance ($ in thousands except statistical data and per share amounts) Three Months Ended Six Months Ended June 30, June 30, % % CHANGE CHANGE 2026 2025 to 2025 2026 2025 to 2025 Comparable Hotels ADR $169.90 $164.19 3.5% $163.96 $160.93
Slide 9: Rooms-focused operating model produces strong margins
E F F I C I E N T O P E R AT I O N S Rooms-focused operating model produces strong margins YTD June 30, 2026 Hotel EBITDA Margin and RevPAR Comparison 37% 35% 35% 32% 31% 29% 29% 29% 28% 28% $248 $259 $238 $215 $206 $205 $145 $158 $125 $131 CLDT APLE (1) INN HST DRH XHR PK RLJ SHO PEB RevPAR Upscale
Slide 10: Net Debt to EBITDA Comparison
N E T D E B T T O E B I T D A C O M PA R I S O N Low leverage has always been a key component of our strategy, providing stability and optionality across economic cycles Net Debt to TTM EBITDA Ratio at June 30, 2026 7.5x 5.9x 5.1x 5.1x 4.7x 4.1x 3.5x 3.1x 3.2x 1.7x (1) HST DRH APLE SHO CLDT XHR PEB
Slide 11: Comparable Hotels Operating Trends
C O M PA R A B L E H O T E L S O P E R AT I N G T R E N D S Occ ADR RevPAR 100% $179 90% $169 $166 $168 $162 $164 $161 $163 $167 $165 $163 $160 $159 $159 80% $149 $149 $147 $146 $140 $136 $132 $130 $133 70% $125 $128 $130 $131 $118 $124 $122 $122 $119 60% $104 $95 $93 50% $88 40% 30% 20% 10% 64% 74%
Slide 12: Comparable Hotels Occupancy Trends
C O M PA R A B L E H O T E L S O C C U PA N C Y T R E N D S Continued Strength in Comparable Hotels Occupancy 100% 90% 84% 82% 83% 82% 81% 79% 80% 80% 79% 81% 79% 77% 78% 78% 78% 76% 78% 80% 76% 75% 75% 75% 74% 73% 70% 69% 70% 64% 63% 64% 60% Occupancy 50% 40% 30% 20% 10% 0% Week ended Jan 2025 Feb
Slide 13: Weekday vs. Weekend Occupancy
W E E K D AY V S . W E E K E N D O C C U PA N C Y Continued Strength in Absolute Weekday and Weekend Occupancy Weekday Weekend 100% 90% 85% 86% 86% 87% 86% 84% 83% 83% 83% 84% 84% 83% 84% 84% 85% 82% 82% 81% 83% 79% 80% 80% 79% 77% 80% 80% 79% 78% 78% 77% 78% 79% 80% 76% 74% 76% 75% 76% 74% 73% 76%
Slide 14: Portfolio Poised for Continued Outperformance
PORTFOLIO POISED FOR CONTINUED OUTPERFORMANCE • Select-service hotels franchised with industry-leading brands provide strong value proposition and have proven appeal with broadest group of business and leisure customers • Resilient demand with favorable year-over-year government travel comparisons •
Slide 15: Stability Through Cycles Leads to Outperformance
POSITIONED FOR OUTPERFORMANCE ACROSS CYCLES High margins Broad geographic Strong value Low debt Low supply growth combined with low diversification proposition for CapEx needs business and leisure guests results in strong free enhances portfolio drives resilient means less favorably shifts risk cash
Slide 16: Scale Ownership of Rooms-Focused Hotels with Broad Consumer Appeal
SCALE OWNERSHIP OF ROOMS-FOCUSED HOTELS WITH BROAD CONSUMER APPEAL 39 hotels in portfolio 34 hotels in portfolio 33 hotels in portfolio 30 hotels in portfolio 27 hotels in portfolio 10 hotels in portfolio 10 hotels in portfolio 8 hotels in portfolio 8 hotels in portfolio 4 hotels in portfolio 4 3 ho
Slide 17: Benefits of Branded Select-Service Hotels
BENEF ITS OF BRAND ED SELEC T-SERV IC E HOTELS Efficient Operating Model Broad Consumer Appeal Maximize Shareholder Value COURTYARD VIRGINIA BEACH OCEANFRONT/SOUTH • Total revenue primarily derived • High-quality hotels with strong • Ability to optimize mix of business from rooms sold value proposit
Slide 18: Broad Geographic Diversification
B R O A D G E O G R A P H I C D I V E R S I F I C AT I O N 3% Diversification across 83 markets helps 4% drive strong, consistent performance 3% 4% 3% ✓ Broad geographic diversification provides exposure to wide 3% variety of demand generators 3% 3% 5% ✓ Markets benefit from a mix of business and le
Slide 19: Market Strategy
M A R K E T S T R AT E G Y HIGH-DENSITY SUBURBAN URBAN Diversification across high- Properties ideally located in upscale submarkets with attractive cost density location types helps Properties located in business-friendly cities. Beneficiaries of structures that benefit from a broad mix of business
Slide 20: Strong Operating Margins
S T R O N G O P E R AT I N G M A R G I N S APLE is well positioned to maximize efficiencies and drive profitability: • Broad consumer appeal allows for optimization of business mix to drive APLE has a proven record of ADR and RevPAR growth • Rooms-focused hotels are inherently efficient maximizing o
Slide 21: Limited Near-Term Impact from New Supply
L I M I T E D N E A R - T E R M I M PA C T F R O M N E W S U P P LY Supply growth well below historical average for our portfolio Portfolio Exposure to New Supply 80% New construction starts have meaningfully decreased since onset of 70% pandemic with anticipated delays in completion 60% Approximate
Slide 22: Industry-Leading Asset Management
I N D U S T R Y- L E A D I N G A S S E T M A N A G E M E N T Best-in-Class Operators Strategic Asset Management Approach • 100% of Apple Hospitality’s portfolio operated by third-party • Analytical, data-driven asset management to maximize property-level performance property managers • Scale to nego
Slide 23: Proprietary Management Agreement Structure
P R O P R I E TA R Y M A N A G E M E N T A G R E E M E N T S T R U C T U R E Our unique management company contract structure better aligns owner and operator to maximize performance in all market environments. COURTYARD AND RESIDENCE INN RICHMOND DOWNTOWN APLE’s Management Company Contract Structur
Slide 24: Balance Sheet Poised for Future Growth
BALANCE SHEET POISED FOR FUTURE GROWTH • Positive corporate cash flow early in the pandemic recovery preserved strength of balance sheet and equity value • Conservative capital structure with staggered maturities lowers capital costs • As of June 30, 2026, 59% of outstanding debt fixed or hedged and
Slide 25: Strong Balance Sheet & Liquidity Position
STRONG BALANCE SHEET & LIQUIDITY POSITION Low debt and staggered maturities facilitate agile balance sheet strategy Strong liquidity position for opportunistic growth Debt Composition(1) Debt Maturity Schedule (1) ($ in millions) Total Liquidity (1) ($ in millions) Hotels: 2 Keys: 319 Hotels: 2 Rate
Slide 26: Effective Portfolio Management & Strategic Growth
EFFECTIVE PORTFOLIO MANAGEMENT & S T R AT E G I C G R O W T H Opportunistic Dispositions Accretive Acquisitions Strategic Growth ▪ Reduce exposure to lower growth ▪ Invest in hotels and markets with markets greater growth potential ▪ Dispose of hotels where strong ▪ Acquire assets in strong RevPAR E
Slide 27: Value Creation Through Disciplined Capital Allocation
VA L U E C R E AT I O N T H R O U G H D I S C I P L I N E D C A P I TA L A L L O C AT I O N A N D P O R T F O L I O M A N A G E M E N T Post Pandemic Strategic Acquisitions and Opportunistic Dispositions Disciplined Capital Allocation Enhance Portfolio Value January 2023 through June 2026 Pre-COVID
Slide 28: Net Acquirer Since Onset of Pandemic
N E T A C Q U I R E R S I N C E O N S E T O F PA N D E M I C Our acquisition and disposition activity since the start of the pandemic has optimized our portfolio by lowering the average age of our assets, reducing near-term CapEx and increasing exposure to markets we anticipate will outperform over
Slide 29: Acquisitions Under Contract: Anchorage
ACQUISITIONS UNDER CONTRACT Renderings OVERVIEW • 160-room(2) AC Hotel by Marriott ® under development in Anchorage, Alaska, for an anticipated total purchase price of $65.5 million, or approximately $409,000 per key • Ideally located in Anchorage near the Company’s Embassy Suites by Hilton Anchorag
Slide 30: Acquisitions Under Contract: Las Vegas
ACQUISITIONS UNDER CONTRACT Renderings OVERVIEW • 237-room(1) AC Hotel by Marriott® and 160-room(1) Residence Inn by Marriott® under development in Las Vegas, Nevada, for an anticipated total purchase price of $143.7 million, or approximately $362,000 per key • The hotels will be developed on the la
Slide 31: More Than 25-Year Track Record of Hotel Transactions
MORE THAN 25-YEAR TRACK RECORD OF HOTEL TRANSACTIONS Apple REIT Companies Transaction History 1999 – August 5, 2026 458 T O TA L H O T E L S A C Q U I R E D Having purchased as many as 74 hotels 242 in a single year through T O TA L H O T E L S S O L D individual hotel and small 216 portfolio transa
Slide 32: Well-Maintained, Institutional-Quality Portfolio
W E L L - M A I N TA I N E D P O R T F O L I O WELL-MAINTAINED, INSTITUTIONAL-QUALITY PORTFOLIO ✓ Consistent reinvestment enhances long-term value and leads to traveler satisfaction outperformance ✓ Experienced team utilizes advantages of scale ownership to control costs and maximize impact of dolla
Slide 33: U.S. Hotel Forecast
U.S. HOTEL FORECAST U.S. Hotel Forecast 2025 2026 2027 Actual Forecast Forecast Occupancy 62.3% 63.1% 63.4% ADR Change (YOY) +1.0% +3.1% +1.6% RevPAR Change (YOY) -0.2% +4.4% +2.1% Source: STR; © 2026 CoStar Group; Tourism Economics. Published August 2026. 33 HILTON GARDEN INN DENVER DOWNTOWN
Slide 34: Corporate Responsibility Initiatives
CORPORATE RESPONSIBILITY INITIATIVES We own one of the largest and most geographically diverse portfolios of rooms-focused hotels in the United States and are dedicated to making a positive impact on the many communities our hotels serve. We are mindful of our environmental footprint and committed t
Slide 35: Environmental Stewardship
E N V I R O N M E N TA L S T E WA R D S H I P Apple Hospitality is committed to enhancing and incorporating sustainability opportunities into our investment and asset management strategies, with a focus on minimizing our environmental impact through reductions in energy and water usage and through i
Slide 36: Social Responsibility
SOCIAL RESPONSIBILITY Key Metrics for Apple Hospitality since 2017 We are thoughtful in our interactions with The Company has in place a Health, Safety others and know that strong, caring relationships are the core of our industry. 1,000+ and Well-Being Policy, a Human Rights Policy and a Vendor Cod
Slide 37: Governance
GOVERNANCE Corporate Governance Aligns with Shareholders • Audit, Compensation and Corporate Governance Committees are independent • Regular executive sessions of independent directors • De-staggered Board allows for annual elections of directors • Required resignation of an incumbent director not r
Slide 38: Appendix
APPENDIX RESIDENCE INN SAN DIEGO OCEANSIDE
Slide 39: Recent Acquisition Activity
RECENT ACQUISITION ACTIVITY 24 Hotels Acquired Since Beginning of 2020 Hotels Under Contract for Purchase(3) Anticipated Brand Location Rooms Date Opened Date Acquired Purchase Price Brand Location Rooms Date Opened Purchase Price Acquisition Date Hampton Inn & Suites(1)(2) Cape Canaveral, FL 116 Ap
Slide 40: Recent Disposition Activity
RECENT DISPOSITION ACTIVITY 41 Hotels Sold Since Beginning of 2020 Brand Location Rooms Age at Time of Sale Date Sold Sales Price SpringHill Suites Sanford, FL 105 20 yrs January 2020 $13.0 million SpringHill Suites Boise, ID 230 25 yrs February 2020 $32.0 million Hampton Inn & Suites Tulare, CA 86
Slide 41: Comparable Hotels Quarterly Operating Metrics and Statistical Data
COMPARABLE HOTELS QUARTERLY OPERATING METRICS AND STATISTICAL DATA (Unaudited) (in thousands, except statistical data) 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Operating income (Actual) $50,859 $84,851 $72,497 $49,597 $48,013 $88,154 Operating margin % (Actual) 15.5% 22.1% 19.4% 15.2% 14.2% 21.9% Comparable Hote
Slide 42: Same Store Hotels Quarterly Operating Metrics and Statistical Data
SAME STORE HOTELS QUARTERLY OPERATING METRICS AND STATISTICAL DATA (Unaudited) (in thousands, except statistical data) 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Operating income (Actual) $50,859 $84,851 $72,497 $49,597 $48,013 $88,154 Operating margin % (Actual) 15.5% 22.1% 19.4% 15.2% 14.2% 21.9% Same Store Hote
Slide 43: Reconciliation of Net Income to EBITDA, EBITDAre, Adjusted EBITDAre and Adjusted Hotel EBITDA
R E C O N C I L I AT I O N O F N E T I N C O M E T O E B I T D A , E B I T D A r e , ADJUSTED EBITDAre AND ADJUSTED HOTEL EBITDA THE FOLLOWING TABLE RECONCILES THE COMPANY’S GAAP NET INCOME TO EBITDA, EBITDAre, ADJUSTED EBITDAre AND ADJUSTED HOTEL EBITDA ON A QUARTERLY BASIS FOR 2025 AND 2026 (Unaud
Slide 44: Reconciliation of Net Income to FFO and MFFO
R E C O N C I L I AT I O N O F N E T I N C O M E T O F F O A N D M F F O THE FOLLOWING TABLE RECONCILES THE COMPANY’S GAAP NET INCOME TO FFO and MFFO ON A QUARTERLY BASIS FOR 2025 and 2026 (Unaudited) (in thousands, except per share amounts) 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Net income $31,221 $63,648 $50
Slide 45: Definitions
DEFINITIONS Non-GAAP Financial Measures The Company considers the following non-GAAP financial measures useful to investors as key supplemental measures of its operating performance: Funds from Operations (“FFO”); Modified FFO (“MFFO”); Earnings Before Interest, Income Taxes, Depreciation and Amorti
Slide 46: Definitions Continued
DEFINITIONS CONTINUED FFO and MFFO The Company calculates and presents FFO in accordance with standards established by Nareit, which defines FFO as net income (loss) (computed in accordance with GAAP), excluding gains and losses from the sale of certain real estate assets (including gains and losses
Slide 47: Trademark Information
T R A D E M A R K I N F O R M AT I O N “AC Hotels by Marriott®,” “Aloft Hotels®,” “Courtyard by Marriott®,” “Fairfield by Marriott®,” “Fairfield Inn by Marriott®,” “Fairfield Inn & Suites by Marriott®,” “Marriott® Hotels,” “Residence Inn by Marriott®,” “SpringHill Suites by Marriott®,” and “TownePla
Slide 48: Apple Hospitality REIT, Inc. Contact Information
Apple Hospitality REIT, Inc. 814 East Main Street Richmond, VA 23219 (804) 344-8121 info@applehospitalityreit.com www.applehospitalityreit.com RESIDENCE INN SEATTLE SOUTH/RENTON
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