10-Q Filing
Filing Information
| Form Type | 10-Q |
| Accession Number | 0001185185-16-004428 |
| Period End Date | 20160331 |
| Filing Date | 20160506 |
| Fiscal Year | 2016 |
| Fiscal Period | Q1 |
| XBRL Instance | apple10-20160331.xml |
Filing Contents
This filing contains the following financial statements:
Balance Sheet
42 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Real estate accumulated depreciation (in Dollars) |
RealEstateInvestmentPropertyAccumulatedDepreciation
|
$107.53M | USD | Point-in-time |
| Real estate accumulated depreciation (in Dollars) |
RealEstateInvestmentPropertyAccumulatedDepreciation
|
$116.85M | USD | Point-in-time |
| Investment in real estate, net of accumulated depreciation of $116,854 and $107,525, respectively |
RealEstateInvestmentPropertyNet
|
$938.42M | USD | Point-in-time |
| Preferred stock, shares authorized |
PreferredStockSharesAuthorized
|
30.00M | shares | Point-in-time |
| Preferred stock, shares authorized |
PreferredStockSharesAuthorized
|
30.00M | shares | Point-in-time |
| Investment in real estate, net of accumulated depreciation of $116,854 and $107,525, respectively |
RealEstateInvestmentPropertyNet
|
$930.65M | 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 |
| Restricted cash-furniture, fixtures and other escrows |
RestrictedCashAndCashEquivalents
|
$13.41M | USD | Point-in-time |
| Restricted cash-furniture, fixtures and other escrows |
RestrictedCashAndCashEquivalents
|
$13.21M | USD | Point-in-time |
| Due from third party managers, net |
DueFromManagers
|
$12.82M | USD | 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
|
$7.33M | USD | Point-in-time |
| Other assets, net |
OtherAssets
|
$8.72M | USD | Point-in-time |
| Common stock, shares authorized |
CommonStockSharesAuthorized
|
400.00M | shares | Point-in-time |
| Other assets, net |
OtherAssets
|
$9.23M | USD | Point-in-time |
| Common stock, shares authorized |
CommonStockSharesAuthorized
|
400.00M | shares | Point-in-time |
| Total Assets |
Assets
|
$968.38M | USD | Point-in-time |
| Common stock, shares issued |
CommonStockSharesIssued
|
88.20M | shares | Point-in-time |
| Common stock, shares issued |
CommonStockSharesIssued
|
88.79M | shares | Point-in-time |
| Total Assets |
Assets
|
$965.40M | USD | Point-in-time |
| Common stock, shares outstanding |
CommonStockSharesOutstanding
|
88.20M | shares | Point-in-time |
| Common stock, shares outstanding |
CommonStockSharesOutstanding
|
88.79M | shares | Point-in-time |
| Revolving credit facility |
LineOfCredit
|
$44.70M | USD | Point-in-time |
| Revolving credit facility |
LineOfCredit
|
$30.40M | USD | Point-in-time |
| Mortgage debt |
SecuredDebt
|
$196.89M | USD | Point-in-time |
| Mortgage debt |
SecuredDebt
|
$195.84M | USD | Point-in-time |
| Accounts payable and other liabilities |
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
|
$13.35M | USD | Point-in-time |
| Accounts payable and other liabilities |
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
|
$11.30M | USD | Point-in-time |
| Total Liabilities |
Liabilities
|
$251.84M | USD | Point-in-time |
| Total Liabilities |
Liabilities
|
$240.64M | 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 400,000,000 shares; issued and outstanding 88,202,564 and 88,785,416 shares, respectively |
CommonStockValue
|
$868.85M | USD | Point-in-time |
| Common stock, no par value, authorized 400,000,000 shares; issued and outstanding 88,202,564 and 88,785,416 shares, respectively |
CommonStockValue
|
$862.85M | USD | Point-in-time |
| Distributions greater than net income |
AccumulatedDistributionsInExcessOfNetIncome
|
$141.15M | USD | Point-in-time |
| Distributions greater than net income |
AccumulatedDistributionsInExcessOfNetIncome
|
$149.34M | USD | Point-in-time |
| Total Shareholders' Equity |
StockholdersEquity
|
$727.75M | USD | Point-in-time |
| Total Shareholders' Equity |
StockholdersEquity
|
$713.56M | USD | Point-in-time |
| Total Liabilities and Shareholders' Equity |
LiabilitiesAndStockholdersEquity
|
$968.38M | USD | Point-in-time |
| Total Liabilities and Shareholders' Equity |
LiabilitiesAndStockholdersEquity
|
$965.40M | USD | Point-in-time |
Income Statement
46 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Room |
OccupancyRevenue
|
$55.74M | USD | 1 Quarter |
| Room |
OccupancyRevenue
|
$60.45M | USD | 1 Quarter |
| Other |
OtherHotelOperatingRevenue
|
$4.66M | USD | 1 Quarter |
| Other |
OtherHotelOperatingRevenue
|
$5.03M | USD | 1 Quarter |
| Total revenue |
Revenues
|
$65.48M | USD | 1 Quarter |
| Total revenue |
Revenues
|
$60.40M | USD | 1 Quarter |
| Operating |
DirectCostsOfHotels
|
$15.87M | USD | 1 Quarter |
| Operating |
DirectCostsOfHotels
|
$14.63M | USD | 1 Quarter |
| Hotel administrative |
CostOfOtherPropertyOperatingExpense
|
$5.01M | USD | 1 Quarter |
| Hotel administrative |
CostOfOtherPropertyOperatingExpense
|
$5.50M | USD | 1 Quarter |
| Sales and marketing |
SellingAndMarketingExpense
|
$4.95M | USD | 1 Quarter |
| Sales and marketing |
SellingAndMarketingExpense
|
$5.41M | USD | 1 Quarter |
| Utilities |
UtilitiesCosts
|
$2.00M | USD | 1 Quarter |
| Utilities |
UtilitiesCosts
|
$2.10M | USD | 1 Quarter |
| Repair and maintenance |
CostOfPropertyRepairsAndMaintenance
|
$2.42M | USD | 1 Quarter |
| Repair and maintenance |
CostOfPropertyRepairsAndMaintenance
|
$2.15M | USD | 1 Quarter |
| Franchise fees |
DirectOperatingCostRoyaltyExpense
|
$2.81M | USD | 1 Quarter |
| Franchise fees |
DirectOperatingCostRoyaltyExpense
|
$2.68M | USD | 1 Quarter |
| Management fees |
OwnedPropertyManagementCosts
|
$2.31M | USD | 1 Quarter |
| Management fees |
OwnedPropertyManagementCosts
|
$2.50M | USD | 1 Quarter |
| Property taxes, insurance and other |
RealEstateTaxesAndInsurance
|
$3.94M | USD | 1 Quarter |
| Property taxes, insurance and other |
RealEstateTaxesAndInsurance
|
$4.34M | USD | 1 Quarter |
| Ground lease |
OperatingLeasesRentExpenseNet
|
$85.00K | USD | 1 Quarter |
| Ground lease |
OperatingLeasesRentExpenseNet
|
$311.00K | USD | 1 Quarter |
| General and administrative |
GeneralAndAdministrativeExpense
|
$1.49M | USD | 1 Quarter |
| General and administrative |
GeneralAndAdministrativeExpense
|
$1.85M | USD | 1 Quarter |
| Transaction costs |
TransactionCosts
|
$282.00K | USD | 1 Quarter |
| Transaction costs |
TransactionCosts
|
$1.58M | USD | 1 Quarter |
| Depreciation |
Depreciation
|
$8.39M | USD | 1 Quarter |
| Depreciation |
Depreciation
|
$9.33M | USD | 1 Quarter |
| Total expenses |
OperatingExpenses
|
$52.62M | USD | 1 Quarter |
| Total expenses |
OperatingExpenses
|
$49.32M | USD | 1 Quarter |
| Operating income |
OperatingIncomeLoss
|
$12.86M | USD | 1 Quarter |
| Operating income |
OperatingIncomeLoss
|
$11.07M | USD | 1 Quarter |
| Interest and other expense, net |
InterestIncomeExpenseNet
|
$-2.76M | USD | 1 Quarter |
| Interest and other expense, net |
InterestIncomeExpenseNet
|
$-1.68M | USD | 1 Quarter |
| Income before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
$9.39M | USD | 1 Quarter |
| Income before income taxes |
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
$10.10M | USD | 1 Quarter |
| Income tax expense |
IncomeTaxExpenseBenefit
|
$59.00K | USD | 1 Quarter |
| Income tax expense |
IncomeTaxExpenseBenefit
|
$56.00K | USD | 1 Quarter |
| Net income |
NetIncomeLoss
|
$10.05M | USD | 1 Quarter |
| Net income |
NetIncomeLoss
|
$9.33M | USD | 1 Quarter |
| Basic and diluted net income per common share (in Dollars per share) |
EarningsPerShareBasicAndDiluted
|
$0.11 | USD | 1 Quarter |
| Basic and diluted net income per common share (in Dollars per share) |
EarningsPerShareBasicAndDiluted
|
$0.10 | USD | 1 Quarter |
| Weighted average common shares outstanding - basic and diluted (in Shares) |
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
90.70M | shares | 1 Quarter |
| Weighted average common shares outstanding - basic and diluted (in Shares) |
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
88.32M | shares | 1 Quarter |
Cash Flow Statement
48 line items
| Line Item | Tag | Value | Unit | Period |
|---|---|---|---|---|
| Net income |
NetIncomeLoss
|
$10.05M | USD | 1 Quarter |
| Net income |
NetIncomeLoss
|
$9.33M | USD | 1 Quarter |
| Depreciation |
Depreciation
|
$8.39M | USD | 1 Quarter |
| Depreciation |
Depreciation
|
$9.33M | USD | 1 Quarter |
| Other non-cash expenses, net |
OtherNoncashIncomeExpense
|
$55.00K | USD | 1 Quarter |
| Other non-cash expenses, net |
OtherNoncashIncomeExpense
|
$140.00K | USD | 1 Quarter |
| Increase in due from third party managers, net |
IncreaseDecreaseInDueFromThirdPartyManagers
|
$5.50M | USD | 1 Quarter |
| Increase in due from third party managers, net |
IncreaseDecreaseInDueFromThirdPartyManagers
|
$6.38M | USD | 1 Quarter |
| Decrease in other assets, net |
IncreaseDecreaseInOtherOperatingAssets
|
$-1.49M | USD | 1 Quarter |
| Decrease in other assets, net |
IncreaseDecreaseInOtherOperatingAssets
|
$-751.00K | USD | 1 Quarter |
| Decrease in accounts payable and other liabilities |
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
$-720.00K | USD | 1 Quarter |
| Decrease in accounts payable and other liabilities |
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
$-1.14M | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$14.79M | USD | 1 Quarter |
| Net cash provided by operating activities |
NetCashProvidedByUsedInOperatingActivities
|
$11.01M | USD | 1 Quarter |
| Acquisition of hotel properties, net |
PaymentsToAcquireBusinessesNetOfCashAcquired
|
$73.22M | USD | 1 Quarter |
| Acquisition of hotel properties, net |
PaymentsToAcquireBusinessesNetOfCashAcquired
|
- | USD | 1 Quarter |
| Deposits and other disbursements for potential acquisitions |
PaymentsForDepositsOnRealEstateAcquisitions
|
$100.00K | USD | 1 Quarter |
| Deposits and other disbursements for potential acquisitions |
PaymentsForDepositsOnRealEstateAcquisitions
|
$150.00K | USD | 1 Quarter |
| Capital improvements |
PaymentsForCapitalImprovements
|
$6.36M | USD | 1 Quarter |
| Capital improvements |
PaymentsForCapitalImprovements
|
$3.06M | USD | 1 Quarter |
| Decrease (increase) in capital improvement reserves |
IncreaseDecreaseInRestrictedCash
|
$713.00K | USD | 1 Quarter |
| Decrease (increase) in capital improvement reserves |
IncreaseDecreaseInRestrictedCash
|
$-351.00K | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-79.33M | USD | 1 Quarter |
| Net cash used in investing activities |
NetCashProvidedByUsedInInvestingActivities
|
$-3.93M | USD | 1 Quarter |
| Redemptions of Units |
PaymentsForRepurchaseOfEquity
|
$5.99M | USD | 1 Quarter |
| Redemptions of Units |
PaymentsForRepurchaseOfEquity
|
$4.39M | USD | 1 Quarter |
| Distributions paid to common shareholders |
PaymentsOfDividendsCommonStock
|
$18.72M | USD | 1 Quarter |
| Distributions paid to common shareholders |
PaymentsOfDividendsCommonStock
|
$18.23M | USD | 1 Quarter |
| Net proceeds from credit facility |
ProceedsFromRepaymentsOfLinesOfCredit
|
$14.30M | USD | 1 Quarter |
| Net proceeds from credit facility |
ProceedsFromRepaymentsOfLinesOfCredit
|
$45.70M | USD | 1 Quarter |
| Payments of mortgage debt |
RepaymentsOfSecuredDebt
|
$950.00K | USD | 1 Quarter |
| Payments of mortgage debt |
RepaymentsOfSecuredDebt
|
$579.00K | USD | 1 Quarter |
| Financing costs |
PaymentsOfFinancingCosts
|
- | USD | 1 Quarter |
| Financing costs |
PaymentsOfFinancingCosts
|
$38.00K | USD | 1 Quarter |
| Net cash provided by (used in) financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$-10.87M | USD | 1 Quarter |
| Net cash provided by (used in) financing activities |
NetCashProvidedByUsedInFinancingActivities
|
$21.98M | USD | 1 Quarter |
| Decrease in cash and cash equivalents |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
$-46.34M | USD | 1 Quarter |
| Decrease in cash and cash equivalents |
CashAndCashEquivalentsPeriodIncreaseDecrease
|
- | USD | 1 Quarter |
| Cash and cash equivalents, beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
- | USD | Point-in-time |
| Cash and cash equivalents, beginning of period |
CashAndCashEquivalentsAtCarryingValue
|
$46.34M | USD | Point-in-time |
| 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, end of period |
CashAndCashEquivalentsAtCarryingValue
|
- | USD | Point-in-time |
| Cash and cash equivalents, end of period |
CashAndCashEquivalentsAtCarryingValue
|
$46.34M | 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 |
| Interest paid |
InterestPaid
|
$2.86M | USD | 1 Quarter |
| Interest paid |
InterestPaid
|
$1.91M | USD | 1 Quarter |
Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.