Apple Hospitality REIT, Inc. (NYSE:APLE) Q2 2023 Earnings Conference Call August 4, 2023 9:00 AM ET

Company Participants

Kelly Clarke - VP, IR

Justin Knight - CEO

Liz Perkins - CFO

Conference Call Participants

Austin Wurschmidt - KeyBanc Capital Markets

Dori Kesten - Wells Fargo Securities

Tyler Batory - Oppenheimer

Tyler Batory - Oppenheimer & Co. Inc.

Anthony Powell - Barclays

Michael Bellisario - Robert W. Baird

Chris Darling - Green Street

Operator

Greetings and welcome to the Apple Hospitality REIT's Second Quarter 2023 Earnings Call. All participants will be in listen-only mode. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Kelly Clarke, Vice President, IR. Please go ahead.

Kelly Clarke

Thank you and good morning. Welcome to Apple Hospitality REIT's second quarter 2023 earnings call. Today’s call will be based on the earnings release and Form 10-Q, which we distributed and filed yesterday afternoon.

Before we begin, please note that today's call may include forward-looking statements as defined by federal securities laws. These forward-looking statements are based on current views and assumptions and as a result, are subject to numerous risks, uncertainties, and the outcome of future events that could cause actual results, performance or achievements to materially differ from those expressed, projected or implied.

Any such forward-looking statements are qualified by the risk factors described in our filings with the SEC, including in our 2022 annual report on Form 10-K and speak only as of today. The company undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.

In addition, non-GAAP measures of performance will be discussed during this call. Reconciliations of those measures to GAAP measures and definitions of certain items referred to in our remarks are included in yesterday’s earnings release and other filings with the SEC. For a copy of the earnings release or additional information about the company, please visit applehospitalityreit.com.

This morning, Justin Knight, our Chief Executive Officer; and Liz Perkins, our Chief Financial Officer, will provide an overview of our results for the second quarter 2023 and an operational outlook for the remainder of the year. Following the overview, we will open the call for Q&A.

At this time, it is my pleasure to turn the call over to Justin.

Justin Knight

Good morning and thank you for joining us today. As we move into the back half of 2023, we are incredibly pleased with our performance here today. And though we've limited visibility into the future, we've reason to be optimistic based on recent trends. Demand across our geographically diversified portfolio of rooms focused hotels remained strong and drove year-over-year improvements in occupancy, ADR and RevPAR for the quarter.