Justin Knight, CEO of Apple Hospitality REIT, Inc. (NYSE: APLE), sat down for a video interview during Nareit’s REITweek: 2025 Investor Conference in New York City on June 2-5.
Knight outlined the company’s continued focus on operational discipline and capital flexibility as it navigated market volatility in the first half of the year. He emphasized a back-to-basics approach: “We will continue to focus on the fundamentals of our business...providing guests with a powerful value proposition that enables us to drive rate.”
Apple Hospitality has maintained a conservative balance sheet, ending Q1 at 3.3x net debt to EBITDA, with most assets unencumbered. Knight noted: “Our cash yield to investors through annual dividends is over 8% and that’s fully funded after capex.”
While the transactions market has been slow, the REIT remained active, having already sold two properties, with another under contract for sale. It also has two acquisitions lined up, one closing imminently [as of early June 2025] and the other later in 2025. Knight signaled a near-term priority on share repurchases funded by dispositions, aiming to enhance shareholder returns through strategic capital recycling.