What is Apple Hospitality REIT?

Apple Hospitality REIT, Inc., is a company that owns upscale hotel properties operating under the Hilton and Marriott brands, according to Apple Hospitality's home page. The company owns 177 hotels in 32 states, as of October 2015. Apple Hospitality trades on the New York Stock Exchange under the symbol APLE.

Apple Hospitality is based in Richmond, Virginia, according to the company website. It operates in every region of the United States, but its largest holdings are in Texas, where it owns 28 hotels, and California, where it owns 23 hotels. Apple Hospitality REIT formed as a result of the March 2014 merger of Apple REIT Seven, Inc. and Apple REIT Eight, Inc. The company had revenues of $804 million in 2014, according to Yahoo Finance.