By Dean Seal
Apple Hospitality REIT warned investors on Monday that heightened macroeconomic uncertainty is hurting travel demand.
The hotel owner gave the warning in an investor presentation that said revenue per available room was down slightly in the first quarter.
Weather-related travel disruptions hurt results in January and February, and a pullback in government travel weighed on a number of markets in March, the company said. Government travel has fallen after the Trump administration's cuts in jobs and federal spending.
The Richmond, Va., real estate investment trust, whose portfolio includes 97 Marriott-branded hotels, 117 Hilton-branded hotels and five Hyatt-branded hotels, said overall occupancy remained strong on an absolute basis with growth in average daily rates.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
April 07, 2025 09:56 ET (13:56 GMT)
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