RICHMOND, Va.--(BUSINESS WIRE)--
Apple Hospitality REIT, Inc. (NYSE: APLE) (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 under the Company’s existing
share repurchase program. The Plan, entered into on March 29, 2018, is
intended to comply with Rule 10b5-1 of the Securities Exchange Act of
1934, as amended, which will allow the Company to repurchase shares
through a designated broker at times 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 the 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
highly diversified portfolio consists of 241 hotels with more than
30,500 guest rooms located in 88 markets throughout 34 states. The
Company’s hotels are franchised with industry-leading brands, and the
Company’s portfolio includes 117 Marriott®-branded hotels and
124 Hilton®-branded hotels. 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, 2017. Any forward-looking
statement that Apple Hospitality makes speaks only as of the date of
such statement. 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: https://www.businesswire.com/news/home/20180329006173/en/
Apple Hospitality REIT, Inc.
Kelly Clarke, 804-727-6321
Vice
President, Investor Relations
kclarke@applereit.com
Source: Apple Hospitality REIT, Inc.