Apple Hospitality REIT Invests $75M in SpringHill Suites by Marriott Las Vegas Convention Center
December 29, 2023
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Apple ($NYSE:APLE) Hospitality REIT is a publicly-traded real estate investment trust focused on investing in upscale, hospitality-oriented lodging properties in the US. The company recently announced that it has invested $75 million into the acquisition of the SpringHill Suites by Marriott Las Vegas Convention Center. The hotel also features a complimentary shuttle service to the Las Vegas Strip. This investment will help Apple Hospitality to expand its portfolio of hotels in the Las Vegas area and capitalize on the increase in leisure and business travel in the region.
Overall, this $75 million investment serves as a strong example of Apple Hospitality’s commitment to expanding its portfolio with high-quality properties in strategic areas. With this acquisition, Apple Hospitality REIT has further solidified its standing as a leading hospitality-oriented real estate investment trust.
Market Price
This investment is part of their ongoing efforts to expand their portfolio and diversify their investments. With this investment, Apple Hospitality REIT has further established itself as a leader in the hospitality real estate investment trust sector. Apple Hospitality REIT looks forward to increasing their presence in the hospitality industry with this new venture. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for APLE. More…
| Total Revenues | Net Income | Net Margin |
| 1.33k | 159.04 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for APLE. More…
| Operations | Investing | Financing |
| 397.41 | -193.78 | -198.97 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for APLE. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.76k | 1.59k | 13.87 |
Key Ratios Snapshot
Some of the financial key ratios for APLE are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | 19.0% |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis
As a part of our analysis on APPLE HOSPITALITY REIT’s wellbeing, we created the Star Chart to assess the company from different perspectives. The chart reveals that APPLE HOSPITALITY REIT is particularly strong in terms of dividend and has a medium performance in asset, growth and profitability. Additionally, the health score reveals that APPLE HOSPITALITY REIT has a high score of 9/10 which is an indication of the company’s capability to sustain future operations and cashflows even during times of crisis. Based on these observations, we classified APPLE HOSPITALITY REIT as ‘cow’ which means that the company has the track record of paying out consistent and sustainable dividends. This type of company may be of interest to investors who are looking for stable returns on their investments. More…
Peers
The company’s competitors include Sunstone Hotel Investors Inc, Braemar Hotels & Resorts Inc, and CDL Hospitality Trusts.
– Sunstone Hotel Investors Inc ($NYSE:SHO)
Stone Hotel Investors Inc is a real estate investment trust that invests in hotel properties. The company’s portfolio includes properties in the United States, Canada, and Europe. As of 2022, Stone Hotel Investors Inc had a market cap of 2.28 billion. The company’s primary business is owning and operating hotel properties.
– Braemar Hotels & Resorts Inc ($NYSE:BHR)
Braemar Hotels & Resorts Inc. is a publicly traded real estate investment trust that owns and operates upscale full-service hotels and resorts, primarily in the United States. The company was founded in 1993 and is headquartered in Dallas, Texas. As of December 31, 2020, Braemar’s portfolio consisted of 36 hotels and resorts with a total of 11,917 guest rooms.
– CDL Hospitality Trusts ($SGX:J85)
CDL Hospitality Trusts is a hospitality real estate investment trust that owns a portfolio of hotels and resorts in Asia Pacific. The company’s market cap is $1.41 billion as of 2022. CDL Hospitality Trusts is headquartered in Singapore.
Summary
APPLE HOSPITAILITY REIT has recently purchased the SpringHill Suites by Marriott Las Vegas Convention Center for $75 million. This move signals a strong commitment to hospitality and tourism investments, focusing on high-value, high-growth markets. The property provides an excellent opportunity for investors as it offers a long-term, stable income stream.
Additionally, the purchase further diversifies Apple Hospitality REIT’s portfolio and expands its presence in the US hospitality market. With this acquisition, APPLE HOSPITALITY REIT has positioned itself for long-term growth, providing the potential for attractive returns to its investors.
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