Updated
The most significant concentration Apple Hospitality REIT discloses is Marriott or Hilton brands, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
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Source: Apple Hospitality REIT’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
“10-K Item 1A: 'Substantially all of the Company’s hotels operate under Marriott or Hilton brands; therefore, the Company is subject to risks associated with concentrating its portfolio in these brand families.'”
The company's disclosed concentration profile is anchored by a single, high-share counterparty dependency: substantially all of the company's hotels operate under Marriott or Hilton brands. The filing explicitly identifies this as a risk, noting that the company is subject to risks associated with concentrating its portfolio in these brand families. By disclosed size this is a high-share exposure, and its character is dependency — while hotel brands provide distribution, reservation systems, and guest loyalty programs that are commercially valuable, the relationship also means the company's operating performance is tied to the health, reputation, and franchise terms of two specific brand owners. No geographic, product, or financial counterparty concentration beyond brand affiliation is separately disclosed. The concentration is therefore straightforward in structure: an investor's view on the company's revenue quality and risk profile flows directly from an assessment of the Marriott and Hilton franchise ecosystems — including any brand-level reputation events, changes to franchise agreement economics, or shifts in consumer preference away from these brand families. Because the dependency is spread across two of the largest global hospitality brands rather than a single operator, some diversification exists within the constraint. Nonetheless, any material disruption to either brand's operations, fee structure, or competitive positioning would flow through to this portfolio in a way that an operator with a more dispersed brand mix would not experience to the same degree. Monitoring franchise agreement terms and brand health remains the key watch item.
For the engine’s reasoning on APLE’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| PK | Park Hotels & Resorts Inc. | 2 | 1 | 0 | 3 |
| DRH | Diamondrock Hospitality Company | 2 | 0 | 0 | 2 |
| RHP | Ryman Hospitality Properties, I | 2 | 0 | 0 | 2 |
| APLE● | Apple Hospitality REIT, Inc. | 1 | 0 | 0 | 1 |
| HST | Host Hotels & Resorts, Inc. | 1 | 0 | 0 | 1 |
| SHO | Sunstone Hotel Investors, Inc. | 0 | 2 | 0 | 2 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.