RICHMOND, Va.--(BUSINESS WIRE)--
Apple Hospitality REIT, Inc. (NYSE: APLE) (the “Company” or “Apple
Hospitality”) today provided an update on operations at its hotels in
the path of Hurricane Irma.
“The communities and individuals affected by Hurricane Irma are in our
thoughts and prayers,” commented Justin Knight, President and Chief
Executive Officer of Apple Hospitality REIT. “The operating teams at our
hotels have been incredible in their response to this severe and
wide-reaching storm. They have been steadfastly working to ensure the
safety and well-being of every guest and associate at our hotels,
despite changing conditions within their communities. We will continue
to support Hilton, Marriott and the operators at our hotels as the
situation evolves and the recovery from Hurricane Irma moves forward.”
Preliminary reports from initial property inspections have indicated
some minor wind and water related damage at certain of the Company’s
hotels in the path of Hurricane Irma; however, at this time the overall
damage and impact does not appear to be material. Additionally, three of
the Company’s hotels were closed for a short period of time during or
after the storm in response to mandatory evacuation orders or power
outages. All of the Company’s hotels are now operational. The Company
remains focused on the welfare of guests and associates at its hotels
and will continue to assess the overall impact of the storm as the
situation evolves at each of its hotels. The Company maintains
comprehensive insurance coverage for property, business interruption and
other risks with respect to all of its hotels, with industry standard
deductibles in each of the locations.
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 237 hotels, with more than 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
Certain statements contained in this press release other than historical
facts may be considered forward-looking statements. 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,”
“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 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 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, including, but not limited to, in
the section entitled “Risk Factors” in the Company’s Annual Report on
Form 10-K for the year ended December 31, 2016. Any forward-looking
statement that Apple Hospitality makes speaks only as of the date of
such statements. Apple Hospitality 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170915005412/en/
Apple Hospitality REIT, Inc.
Kelly Clarke, Vice President, Investor
Relations
804-727-6321
kclarke@applereit.com
Source: Apple Hospitality REIT, Inc.