APLE - Apple Hospitality FFO of $0.28 beats by $0.02 revenue of $260.48M beats by $5.05M

Apple Hospitality press release (NYSE:APLE): Q1 FFO of $0.28 beats by $0.02. Revenue of $260.48M (+64.1% Y/Y) beats by $5.05M. Comparable Hotels Adjusted EBITDA of approximately $88 million, Comparable Hotels Adjusted Hotel EBITDA Margin of approximately 34%.  "We are pleased to report occupancy of 67%, ADR of $137 and RevPAR of $92 for our portfolio for the first quarter of 2022. As the impact of the Omicron variant eased during the quarter, demand for travel regained momentum, and we ended the quarter with RevPAR for the month of March down less than 2% to March 2019, driven by strong occupancy and the continued rapid recovery in rate, with a nearly 4% improvement in ADR as compared to March 2019." Shares +1%. FY 2022 Capital expenditures are projected to be approximately $55 million to $65 million.

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Apple Hospitality FFO of $0.28 beats by $0.02, revenue of $260.48M beats by $5.05M