Book ahead fall travelers. Low gas prices and a growing economy are filling hotel rooms at record rates, said Justin Knight, CEO of Apple Hospitality REIT. ‘We are seeing occupancy at an all-time high,’ said Knight. ‘It’s leading to higher room rates and increased profitability in our sector.’ Apple Hospitality, formerly Apple REIT Nine, is one of the nation’s largest owners of premium branded upscale, select-service hotels. The company’s portfolio includes 176 Hilton and Marriott branded hotels with approximately 22,500 guestrooms located across 32 states. ‘We focus with Hilton and Marriott because within our sector they have the strongest brands,’ said Knight. ‘Large brand recognition, great loyalty programs and really an efficient operating model which generates high profitability for us.’ Apple became one of the largest hospitality REITs in the United States following the mergers of Apple REIT Seven and Apple REIT Eight on March 1, 2014.
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