Apple Hospitality REIT, Inc.

As of December 31, 2025, the Company owned 217 hotels with an aggregate of 29,583 guest rooms located in 37 states and the District of Columbia and substantially all of the Company’s hotels operated under Marriott or Hilton brands. As of December 31, 2025, the hotels are operated and managed under separate management agreements with one of 16 hotel management companies, none of which are affiliated with the Company. See “Management and Franchise Agreements” in Part I, Item 1, Business, appearing elsewhere in this Annual Report on Form 10-K, for a table summarizing the number of hotels and guest rooms by brand. The following table summarizes the number of hotels and guest rooms by state:

The following table summarizes the location, brand, manager, date acquired or completed and number of guest rooms for each of the 217 hotels that the Company owned as of December 31, 2025. As noted below, 14 of the Company’s properties are subject to ground leases and 10 of its hotels are encumbered by mortgage debt.

(1)

The management companies are defined in Note 9 titled “Management and Franchise Agreements” in Part II, Item 8 in this Annual Report on Form 10-K.

(2)

Property is subject to ground lease.

(3)

Hotel is encumbered by mortgage.

(4)

Manager noted is as of December 31, 2025. In January 2026, management responsibility of this property was transferred from Marriott to Huntington.

(5)

Manager noted is as of December 31, 2025. In January 2026, management responsibility of this property was transferred from Marriott to Dimension.

(6)

Manager noted is as of December 31, 2025. In January 2026, management responsibility of this property was transferred from Marriott to Crestline.

(7)

As of December 31, 2025, this property was included in the Company’s hotel and guest room counts. On April 4, 2025, the Company recovered possession of the New York Property and reinstated operations of the hotel’s 209 guest rooms through a third-party manager engaged by the Company. From May 2023 through March 2025, the Company classified the property as a “non-hotel property” and excluded it from hotel and guest room counts, as it was leased to a third-party hotel operator. Following the third-party hotel operator’s failure to make lease payments, the Company commenced legal proceedings in 2024 to remove the third-party hotel operator from possession of the property. In April 2025, the Company and the third-party hotel operator entered into an agreement to mutually release all claims, to terminate the lease and for the third-party hotel operator to voluntarily surrender possession of the property back to the Company. In December 2025, the Company added three guest rooms bringing the total guest room count to 212 as of December 31, 2025.

The Company’s investment in real estate as of December 31, 2025 consisted of the following (in thousands):

For additional information about the Company’s properties, refer to Schedule III – Real Estate and Accumulated Depreciation and Amortization included at the end of Part IV, appearing elsewhere in this Annual Report on Form 10-K.