Read moreĭefaults may result in additional. Read moreįuture offerings will depend on. Read moreĪdditionally, depreciation and amortization expense. Read moreĪlthough the Company will continue. Read moreĭuring 2020, the Company invested. Read moreĮffective January 20, 2020, the. Read moreĪs anticipated, the operating results. However, the Company anticipates interest. Read moreĭepreciation and amortization expense primarily. Read moreĪlthough the Company expects to. Read moreĬapital Improvements Management routinely monitors. Read moreįFO, MFFO, EBITDA, EBITDAre, Adjusted. Therefore, while the ongoing vaccination. economy to negatively impact the Company's revenue and operating results for an extended period of time. The Company expects this significant decline in revenue associated with COVID-19 and the overall decline in the U.S. The Company anticipates that the conditions to obtaining the waivers that currently apply during the Covenant Waiver Period, as implemented in the June 2020 amendments, will generally continue to apply during the extended covenant waiver period described above, including restrictions on the amount of the Company's distributions, capital expenditures, and share repurchases and acquisitions, but the Company anticipates that the amendments will provide additional flexibility regarding certain of the conditions relative to the current restrictions, including an increased allowance for acquiring unencumbered assets through either proceeds from unencumbered asset sales or equity issuances.Īlthough FFO, MFFO, EBITDA, EBITDAre, Adjusted EBITDAre and Adjusted Hotel EBITDA, as calculated by the Company, may not be comparable to FFO, MFFO, EBITDA, EBITDAre, Adjusted EBITDAre and Adjusted Hotel EBITDA, as reported by other companies that do not define such terms exactly as the Company defines such terms, the Company believes these supplemental measures are useful to investors when comparing the Company's results between periods and with other REITs.Ĭapital Uses Although there can be no assurances, the Company anticipates that available cash and availability under its revolving credit facility as of December 31, 2020, including increased availability from repayments with proceeds from sales of properties, will be adequate to meet its near-term potential operating cash flow deficits that may result from the effects of COVID-19, debt service, hotel acquisitions and capital expenditures. and the resulting economic decline, it is difficult to project the duration of revenue declines for the industry and Company however, the Company currently expects the decline in revenue and operating results as compared to 2019 to continue throughout 2021 and potentially into future years. With the overall uncertainty of the longevity of COVID-19 in the U.S. Other Inside Apple Hospitality Reit, Inc.'s 10-K Annual Report: The information required by Part III of this report, to the extent not set forth herein, is incorporated by reference from the Company’s definitive proxy statement to be filed with the Securities and Exchange Commission in connection with the Company’s annual meeting of shareholders to be held on May 13, 2021.
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