Apple Hospitality REIT reports 'minor' damage following Hurricane Irma
Apple Hospitality REIT provided an update on operations at its hotels in the path of Hurricane Irma. Preliminary reports from initial property inspections have indicated some minor wind and water related damage at certain of the company's hotels in the path of Hurricane Irma; however, at this time the overall damage and impact does not appear to be material. Additionally, three of the company's hotels were closed for a short period of time during or after the storm in response to mandatory evacuation orders or power outages. All of the Company's hotels are now operational. The company remains focused on the welfare of guests and associates at its hotels and will continue to assess the overall impact of the storm as the situation evolves at each of its hotels. The company maintains comprehensive insurance coverage for property, business interruption and other risks with respect to all of its hotels, with industry standard deductibles in each of the locations.