RICHMOND, Va.--(BUSINESS WIRE)--
Apple Hospitality REIT, Inc. (NYSE: APLE) (“Apple Hospitality” or the
“Company”) today announced that the Company has established a written
trading Plan (“Plan”) authorizing the repurchase of its common shares in
open market transactions. This Plan was established as part of the
Company’s previously announced $475 million share repurchase program.
The Plan is intended to comply with Rule 10b5-1 of the Securities
Exchange Act of 1934, as amended, which will allow the Company, through
a designated broker, to repurchase shares at times, beginning on
September 2, 2016, when it might otherwise be prevented from doing so by
securities laws or because of self-imposed trading blackout periods.
Because repurchases under a 10b5-1 plan are subject to certain pricing,
market and volume parameters, there is no guarantee as to the exact
number of shares, if any, that will be repurchased under the Plan. In
addition, the timing of share repurchases under the Plan and overall
repurchase program will depend upon prevailing market conditions,
regulatory requirements and other factors and may be suspended by the
Company at any time.
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 portfolios
of upscale, select service hotels in the United States. The Company’s
portfolio consists of 236 hotels, with over 30,000 guestrooms,
diversified across the Hilton® and Marriott® families of brands with
locations in urban, high-end suburban and developing markets throughout
33 states. For more information, please visit www.applehospitalityreit.com.
Forward-Looking Statements Disclaimer
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995, Section
27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements are predictions and generally can be identified by use of
statements that include phrases such as “may,” “believe,” “expect,”
“anticipate,” “intend,” “estimate,” “project,” “target,” “goal,” “plan,”
“should,” “will,” “predict,” “potential,” “likely,” or other words,
phrases or expressions of similar import. Such statements involve known
and unknown risks, uncertainties, and other factors which may cause the
actual results, performance, or achievements of Apple Hospitality to be
materially different from future results, performance or achievements
expressed or implied by such forward-looking statements. Such factors
include, but are not limited to, the ability of Apple Hospitality to
effectively acquire and dispose of properties; the ability of Apple
Hospitality to successfully integrate pending transactions and implement
its operating strategy; changes in general political, economic and
competitive conditions and specific market conditions; adverse changes
in the real estate and real estate capital markets; financing risks; the
outcome of current and future litigation; regulatory proceedings or
inquiries; and changes in laws or regulations or interpretations of
current laws and regulations that impact Apple Hospitality’s business,
assets or classification as a real estate investment trust. Although
Apple Hospitality 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 Apple
Hospitality or any other person that the results or conditions described
in such statements or the objectives and plans of Apple Hospitality will
be achieved. In addition, Apple Hospitality’s qualification as a real
estate investment trust involves the application of highly technical and
complex provisions of the Internal Revenue Code. Readers should
carefully review Apple Hospitality’s financial statements and the notes
thereto, as well as the risk factors described in Apple Hospitality’s
filings with the Securities and Exchange Commission (“SEC”), including,
but not limited to, in the section entitled “Item 1A. Risk Factors” in
the Annual Report on Form 10-K filed by Apple Hospitality with the SEC
on February 25, 2016 and the Quarterly Report on Form 10-Q filed by
Apple Hospitality with the SEC on August 8, 2016. Any forward-looking
statement speaks only as of the date of this press release. Apple
Hospitality undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information or
developments, future events, or otherwise, except as required by law.
For additional information or to receive press releases via email,
visit www.applehospitalityreit.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20160902005130/en/
Apple Hospitality REIT, Inc.
Kelly Clarke, Vice President, Investor
Relations
804-727-6321
kclarke@applereit.com
Source: Apple Hospitality REIT, Inc.