10-K Filing

APPLE REIT SEVEN, INC. CIK: 1329011 FY 2011

Filing Information

Form Type	10-K
Accession Number	`0000930413-12-001502`
Period End Date	20111231
Filing Date	20120312
Fiscal Year	2011
Fiscal Period	FY
XBRL Instance	apple7-20111231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 44 Income Statement 60 Cash Flow Statement 77 Stockholders Equity 23

Balance Sheet 44 line items

Line Item	Tag	Value	Unit	Period
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$114.10M	USD	Point-in-time
Real estate accumulated depreciation (in Dollars)	`RealEstateInvestmentPropertyAccumulatedDepreciation`	$148.26M	USD	Point-in-time
Investment in real estate, net of accumulated depreciation of $148,257 and $114,097, respectively	`RealEstateInvestmentPropertyNet`	$872.17M	USD	Point-in-time
Investment in real estate, net of accumulated depreciation of $148,257 and $114,097, respectively	`RealEstateInvestmentPropertyNet`	$846.38M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	15.00M	shares	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedAssetsAndOtherEscrows`	$7.14M	USD	Point-in-time
Restricted cash-furniture, fixtures and other escrows	`RestrictedAssetsAndOtherEscrows`	$7.73M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Due from third party managers, net	`DueFromManagers`	$6.43M	USD	Point-in-time
Due from third party managers, net	`DueFromManagers`	$5.83M	USD	Point-in-time
Other assets, net	`OtherAssets`	$6.24M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Other assets, net	`OtherAssets`	$5.20M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Total Assets	`Assets`	$865.14M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	91.11M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	92.03M	shares	Point-in-time
Total Assets	`Assets`	$891.97M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	91.11M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	92.03M	shares	Point-in-time
Credit facility	`LineOfCredit`	$44.90M	USD	Point-in-time
Credit facility	`LineOfCredit`	$64.70M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$110.15M	USD	Point-in-time
Mortgage debt	`SecuredDebt`	$103.12M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$10.65M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$12.31M	USD	Point-in-time
Total Liabilities	`Liabilities`	$158.67M	USD	Point-in-time
Total Liabilities	`Liabilities`	$187.16M	USD	Point-in-time
Preferred stock, value issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, value issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock, no par value, authorized 200,000,000 shares; issued and outstanding 91,109,651 and 92,027,980 shares, respectively	`CommonStockValue`	$910.48M	USD	Point-in-time
Common stock, no par value, authorized 200,000,000 shares; issued and outstanding 91,109,651 and 92,027,980 shares, respectively	`CommonStockValue`	$900.55M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$-177.21M	USD	Point-in-time
Distributions greater than net income	`AccumulatedDistributionsInExcessOfNetIncome`	$-222.60M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$845.75M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$792.26M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$733.30M	USD	Point-in-time
Total Shareholders Equity	`StockholdersEquity`	$677.98M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$865.14M	USD	Point-in-time
Total Liabilities and Shareholders Equity	`LiabilitiesAndStockholdersEquity`	$891.97M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Room revenue	`OccupancyRevenue`	$188.65M	USD	Annual
Room revenue	`OccupancyRevenue`	$181.16M	USD	Annual
Room revenue	`OccupancyRevenue`	$174.04M	USD	Annual
Other revenue	`OtherHotelOperatingRevenue`	$20.23M	USD	Annual
Other revenue	`OtherHotelOperatingRevenue`	$19.37M	USD	Annual
Other revenue	`OtherHotelOperatingRevenue`	$17.67M	USD	Annual
Total revenue	`Revenues`	$208.88M	USD	Annual
Total revenue	`Revenues`	$191.72M	USD	Annual
Total revenue	`Revenues`	$200.53M	USD	Annual
Operating expense	`DirectCostsOfHotels`	$53.55M	USD	Annual
Operating expense	`DirectCostsOfHotels`	$51.52M	USD	Annual
Operating expense	`DirectCostsOfHotels`	$56.31M	USD	Annual
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$15.94M	USD	Annual
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$15.55M	USD	Annual
Hotel administrative expense	`CostOfOtherPropertyOperatingExpense`	$15.08M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$16.07M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$15.38M	USD	Annual
Sales and marketing	`SellingAndMarketingExpense`	$15.08M	USD	Annual
Utilities	`UtilitiesCosts`	$8.99M	USD	Annual
Utilities	`UtilitiesCosts`	$8.83M	USD	Annual
Utilities	`UtilitiesCosts`	$8.80M	USD	Annual
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$9.27M	USD	Annual
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$9.24M	USD	Annual
Repair and maintenance	`CostOfPropertyRepairsAndMaintenance`	$9.00M	USD	Annual
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$8.64M	USD	Annual
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$8.20M	USD	Annual
Franchise fees	`DirectOperatingCostRoyaltyExpense`	$7.83M	USD	Annual
Management fees	`OwnedPropertyManagementCosts`	$6.14M	USD	Annual
Management fees	`OwnedPropertyManagementCosts`	$6.92M	USD	Annual
Management fees	`OwnedPropertyManagementCosts`	$6.63M	USD	Annual
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$12.55M	USD	Annual
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$12.23M	USD	Annual
Taxes, insurance and other	`RealEstateTaxesAndInsurance`	$13.72M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$4.60M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$5.03M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$5.18M	USD	Annual
Depreciation expense	`Depreciation`	$34.16M	USD	Annual
Depreciation expense	`Depreciation`	$33.17M	USD	Annual
Depreciation expense	`Depreciation`	$32.42M	USD	Annual
Gain from settlement of contingency	`OtherNonoperatingIncomeExpense`	-	USD	Annual
Gain from settlement of contingency	`OtherNonoperatingIncomeExpense`	$3.10M	USD	Annual
Gain from settlement of contingency	`OtherNonoperatingIncomeExpense`	-	USD	Annual
Total expenses	`OperatingExpenses`	$173.89M	USD	Annual
Total expenses	`OperatingExpenses`	$164.71M	USD	Annual
Total expenses	`OperatingExpenses`	$164.38M	USD	Annual
Operating income	`OperatingIncomeLoss`	$27.00M	USD	Annual
Operating income	`OperatingIncomeLoss`	$36.16M	USD	Annual
Operating income	`OperatingIncomeLoss`	$34.99M	USD	Annual
Interest expense, net	`InterestIncomeExpenseNet`	$-9.97M	USD	Annual
Interest expense, net	`InterestIncomeExpenseNet`	$-7.84M	USD	Annual
Interest expense, net	`InterestIncomeExpenseNet`	$-6.29M	USD	Annual
Net income	`NetIncomeLoss`	$28.32M	USD	Annual
Net income	`NetIncomeLoss`	$20.71M	USD	Annual
Net income	`NetIncomeLoss`	$25.01M	USD	Annual
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.22	USD	Annual
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.31	USD	Annual
Basic and diluted net income per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$0.27	USD	Annual
Weighted average common shares outstandingbasic and diluted (in Shares)	`WeightedAverageCommonSharesOutstandingBasicAndDiluted`	92.63M	shares	Annual
Weighted average common shares outstandingbasic and diluted (in Shares)	`WeightedAverageCommonSharesOutstandingBasicAndDiluted`	91.44M	shares	Annual
Weighted average common shares outstandingbasic and diluted (in Shares)	`WeightedAverageCommonSharesOutstandingBasicAndDiluted`	93.47M	shares	Annual

Cash Flow Statement 77 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$28.32M	USD	Annual
Net income	`NetIncomeLoss`	$20.71M	USD	Annual
Net income	`NetIncomeLoss`	$25.01M	USD	Annual
Depreciation of real estate owned	`Depreciation`	$34.16M	USD	Annual
Depreciation of real estate owned	`Depreciation`	$33.17M	USD	Annual
Depreciation of real estate owned	`Depreciation`	$32.42M	USD	Annual
Gain from settlement of contingency	`OtherNonoperatingIncomeExpense`	-	USD	Annual
Gain from settlement of contingency	`OtherNonoperatingIncomeExpense`	$3.10M	USD	Annual
Gain from settlement of contingency	`OtherNonoperatingIncomeExpense`	-	USD	Annual
Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net	`AmortizationOfDeferredFinancingCostsFairValueAdjustmentsAndOtherNoncashExpensesNet`	$114.00K	USD	Annual
Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net	`AmortizationOfDeferredFinancingCostsFairValueAdjustmentsAndOtherNoncashExpensesNet`	$665.00K	USD	Annual
Amortization of deferred financing costs, fair value adjustments and other non-cash expenses, net	`AmortizationOfDeferredFinancingCostsFairValueAdjustmentsAndOtherNoncashExpensesNet`	$491.00K	USD	Annual
Decrease (increase) in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$-909.00K	USD	Annual
Decrease (increase) in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$597.00K	USD	Annual
Decrease (increase) in due from third party managers, net	`IncreaseDecreaseInDueFromThirdPartyManager`	$190.00K	USD	Annual
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$33.00K	USD	Annual
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-530.00K	USD	Annual
Decrease (increase) in other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.00K	USD	Annual
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.08M	USD	Annual
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-769.00K	USD	Annual
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-967.00K	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$59.91M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$55.46M	USD	Annual
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$60.03M	USD	Annual
Capital improvements	`PaymentsForCapitalImprovements`	$7.67M	USD	Annual
Capital improvements	`PaymentsForCapitalImprovements`	$13.78M	USD	Annual
Capital improvements	`PaymentsForCapitalImprovements`	$4.23M	USD	Annual
Redemptions (additions) to ownership interest in non-hotel properties	`PaymentsForProceedsFromBusinessesAndInterestInAffiliates`	$101.00K	USD	Annual
Redemptions (additions) to ownership interest in non-hotel properties	`PaymentsForProceedsFromBusinessesAndInterestInAffiliates`	$125.00K	USD	Annual
Redemptions (additions) to ownership interest in non-hotel properties	`PaymentsForProceedsFromBusinessesAndInterestInAffiliates`	$-3.24M	USD	Annual
Net decrease (increase) in cash restricted for property improvements	`IncreaseDecreaseInRestrictedCash`	$-890.00K	USD	Annual
Net decrease (increase) in cash restricted for property improvements	`IncreaseDecreaseInRestrictedCash`	$-2.05M	USD	Annual
Net decrease (increase) in cash restricted for property improvements	`IncreaseDecreaseInRestrictedCash`	$389.00K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.88M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-10.93M	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.31M	USD	Annual
Payments of mortgage debt	`RepaymentsOfSecuredDebt`	$2.87M	USD	Annual
Payments of mortgage debt	`RepaymentsOfSecuredDebt`	$2.56M	USD	Annual
Payments of mortgage debt	`RepaymentsOfSecuredDebt`	$2.40M	USD	Annual
Proceeds from mortgage debt	`ProceedsFromSecuredNotesPayable`	$10.50M	USD	Annual
Proceeds from mortgage debt	`ProceedsFromSecuredNotesPayable`	-	USD	Annual
Proceeds from mortgage debt	`ProceedsFromSecuredNotesPayable`	-	USD	Annual
Net proceeds from current credit facility	`ProceedsFromLinesOfCredit`	$19.80M	USD	Annual
Net proceeds from current credit facility	`ProceedsFromLinesOfCredit`	$67.81M	USD	Annual
Net proceeds from current credit facility	`ProceedsFromLinesOfCredit`	-	USD	Annual
Net proceeds (payments on) extinguished short-term credit facilities	`ProceedsFromExtinguishedCreditFacility`	$-34.42M	USD	Annual
Net proceeds (payments on) extinguished short-term credit facilities	`ProceedsFromExtinguishedCreditFacility`	-	USD	Annual
Net proceeds (payments on) extinguished short-term credit facilities	`ProceedsFromExtinguishedCreditFacility`	$11.51M	USD	Annual
Payment of financing costs related to borrowings	`PaymentsOfFinancingCosts`	$1.16M	USD	Annual
Payment of financing costs related to borrowings	`PaymentsOfFinancingCosts`	$135.00K	USD	Annual
Payment of financing costs related to borrowings	`PaymentsOfFinancingCosts`	$43.00K	USD	Annual
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$40.68M	USD	Annual
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$32.03M	USD	Annual
Redemptions of Units	`PaymentsForRedemptionOfUnits`	$24.84M	USD	Annual
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOfUnits`	$24.75M	USD	Annual
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOfUnits`	$21.99M	USD	Annual
Net proceeds related to issuance of Units	`ProceedsFromIssuanceOfUnits`	$26.01M	USD	Annual
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$70.40M	USD	Annual
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$75.38M	USD	Annual
Distributions paid to common shareholders	`PaymentsOfDividendsCommonStock`	$71.34M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-65.14M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-57.60M	USD	Annual
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-53.15M	USD	Annual
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-20.61M	USD	Annual
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	Annual
Decrease in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	-	USD	Annual
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$20.61M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$20.61M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Interest paid	`InterestPaid`	$7.17M	USD	Annual
Interest paid	`InterestPaid`	$9.96M	USD	Annual
Interest paid	`InterestPaid`	$7.98M	USD	Annual

Stockholders Equity 23 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$845.75M	USD	Point-in-time
Cash distributions paid to shareholders	`CommonStockDividendsPerShareCashPaid`	$0.77	USD	Annual
Balance	`StockholdersEquity`	$792.26M	USD	Point-in-time
Cash distributions paid to shareholders	`CommonStockDividendsPerShareCashPaid`	$0.81	USD	Annual
Balance	`StockholdersEquity`	$733.30M	USD	Point-in-time
Balance	`StockholdersEquity`	$677.98M	USD	Point-in-time
Cash distributions paid to shareholders	`CommonStockDividendsPerShareCashPaid`	$0.77	USD	Annual
Net proceeds from the sale of common shares	`StockIssuedDuringPeriodValueNewIssues`	$26.01M	USD	Annual
Net proceeds from the sale of common shares	`StockIssuedDuringPeriodValueNewIssues`	$24.75M	USD	Annual
Net proceeds from the sale of common shares	`StockIssuedDuringPeriodValueNewIssues`	$22.10M	USD	Annual
Common shares redeemed	`StockRedeemedOrCalledDuringPeriodValue`	$-40.68M	USD	Annual
Common shares redeemed	`StockRedeemedOrCalledDuringPeriodValue`	$-32.03M	USD	Annual
Common shares redeemed	`StockRedeemedOrCalledDuringPeriodValue`	$-24.84M	USD	Annual
Net income	`NetIncomeLoss`	$28.32M	USD	Annual
Net income	`NetIncomeLoss`	$20.71M	USD	Annual
Net income	`NetIncomeLoss`	$25.01M	USD	Annual
Cash distributions declared and paid to shareholders	`DividendsCommonStockCash`	$-75.38M	USD	Annual
Cash distributions declared and paid to shareholders	`DividendsCommonStockCash`	$-71.34M	USD	Annual
Cash distributions declared and paid to shareholders	`DividendsCommonStockCash`	$-70.40M	USD	Annual
Balance	`StockholdersEquity`	$845.75M	USD	Point-in-time
Balance	`StockholdersEquity`	$792.26M	USD	Point-in-time
Balance	`StockholdersEquity`	$733.30M	USD	Point-in-time
Balance	`StockholdersEquity`	$677.98M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.