Apple Hospitality REIT Announces Distribution for First Quarter of 2021
March 19 2021 - 9:00AM
Business Wire
Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or
“Apple Hospitality”) today announced that its Board of Directors
declared a quarterly cash distribution of $0.01 per common share
for the first quarter of 2021. The distribution is payable on April
15, 2021, to shareholders of record as of March 31, 2021.
About Apple Hospitality REIT,
Inc.
Apple Hospitality REIT, Inc. (NYSE: APLE) is a publicly traded
real estate investment trust (“REIT”) that owns one of the largest
and most diverse portfolios of upscale, rooms-focused hotels in the
United States. Apple Hospitality’s portfolio consists of 233 hotels
with more than 29,800 guest rooms located in 88 markets throughout
35 states. Concentrated with industry-leading brands, the Company’s
portfolio consists of 104 Marriott-branded hotels, 124
Hilton-branded hotels, three Hyatt-branded hotels and two
independent hotels. For more information, please visit
www.applehospitalityreit.com.
Forward-Looking Statements
Disclaimer
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements are typically identified by use
of statements that include phrases such as “may,” “believe,”
“expect,” “anticipate,” “intend,” “estimate,” “project,” “target,”
“goal,” “plan,” “should,” “will,” “predict,” “potential,”
“outlook,” “strategy,” and similar expressions that convey the
uncertainty of future events or outcomes. Such statements involve
known and unknown risks, uncertainties, and other factors which may
cause the actual results, performance, or achievements of the
Company to be materially different from future results, performance
or achievements expressed or implied by such forward-looking
statements.
Currently, one of the most significant factors that could cause
actual outcomes to differ materially from the Company’s
forward-looking statements continues to be the adverse effect of
the novel coronavirus COVID-19 pandemic (“COVID-19”), including
resurgences and new variants, on the Company’s business, financial
performance and condition, operating results and cash flows, the
real estate market and the hospitality industry specifically, and
the global economy and financial markets generally. The
significance, extent and duration of the continued impacts caused
by the COVID-19 outbreak on the Company will depend on future
developments, which are highly uncertain and cannot be predicted
with confidence at this time, including the scope, severity and
duration of the pandemic, the extent and effectiveness of the
actions taken to contain the pandemic or mitigate its impact, the
speed of the vaccine roll-out, the efficacy, acceptance and
availability of vaccines, the duration of associated immunity and
efficacy of the vaccines against emerging variants of COVID-19, the
potential for additional hotel closures/consolidations that may be
mandated or advisable, whether based on increased COVID-19 cases,
new variants or other factors, the slowing or rollback of
“reopenings” in certain states, and the direct and indirect
economic effects of the pandemic and containment measures, among
others. Moreover, investors are cautioned to interpret many of the
risks identified under the section titled “Risk Factors” in the
Company’s Annual Report on Form 10-K for the fiscal year ended
December 31, 2020 as being heightened as a result of the ongoing
and numerous adverse impacts of COVID-19. Such additional factors
include, but are not limited to, the ability of the Company to
effectively acquire and dispose of properties; the ability of the
Company to successfully integrate pending transactions and
implement its operating strategy; changes in general political,
economic and competitive conditions and specific market conditions;
reduced business and leisure travel due to travel-related health
concerns, including the widespread outbreak of COVID-19 or an
increase in COVID-19 cases or any other infectious or contagious
diseases in the U.S. or abroad; adverse changes in the real estate
and real estate capital markets; financing risks; changes in
interest rates; litigation risks; regulatory proceedings or
inquiries; and changes in laws or regulations or interpretations of
current laws and regulations that impact the Company’s business,
assets or classification as a REIT. Although the Company believes
that the assumptions underlying the forward-looking statements
contained herein are reasonable, any of the assumptions could be
inaccurate, and therefore there can be no assurance that such
statements included in this press release will prove to be
accurate. In light of the significant uncertainties inherent in the
forward-looking statements included herein, the inclusion of such
information should not be regarded as a representation by the
Company or any other person that the results or conditions
described in such statements or the objectives and plans of the
Company will be achieved. In addition, the Company’s qualification
as a REIT involves the application of highly technical and complex
provisions of the Internal Revenue Code of 1986, as amended.
Readers should carefully review the risk factors described in the
Company’s filings with the Securities and Exchange Commission,
including but not limited to those discussed in the section titled
“Risk Factors” in the Company’s Annual Report on Form 10-K for the
fiscal year ended December 31, 2020. Any forward-looking statement
that the Company makes speaks only as of the date of this press
release. The Company undertakes no obligation to publicly update or
revise any forward-looking statements or cautionary factors, as a
result of new information, future events, or otherwise, except as
required by law.
For additional information or to receive press
releases by email, visit www.applehospitalityreit.com.
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Apple Hospitality REIT, Inc. Kelly Clarke, Vice President,
Investor Relations 804-727-6321 kclarke@applereit.com
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