Apple Hospitality REIT Acquires the Courtyard by Marriott Cleveland University Circle

▤ Summary

“ We are pleased to grow our portfolio with the acquisition of this custom-designed, recently renovated Courtyard by Marriott in the heart of Cleveland’s University Circle district,” said Nelson Knight, President, Real Estate and Investments of Apple Hospitality. As a business-friendly city with a favorable cost of living, a wealth of amenities, beautiful outdoor spaces, robust leisure activities and premier health care facilities, Cleveland is well positioned for continued growth. Such factors include, but are not limited to, the ability of the Company to effectively acquire and dispose of properties and redeploy proceeds; the anticipated timing and frequency of shareholder distributions; the ability of the Company to fund capital obligations; the ability of the Company to successfully integrate pending transactions and implement its operating strategy; changes in general political, economic and competitive conditions and specific market conditions (including the potential effects of inflation or a recessionary environment); reduced business and leisure travel due to geopolitical uncertainty, including terrorism, travel-related health concerns, including COVID-19 or other widespread outbreaks of infectious or contagious diseases in the U.S.; inclement weather conditions, including natural disasters such as hurricanes, earthquakes and wildfires; government shutdowns, airline strikes or other disruptions; adverse changes in the real estate and real estate capital markets; financing risks; changes in interest rates; litigation risks; regulatory proceedings or inquiries; and changes in laws or regulations or interpretations of current laws and regulations that impact the Company’s business, assets or classification as a REIT. In addition, the Company’s qualification as a REIT involves the application of highly technical and complex provisions of the Internal Revenue Code of 1986, as amended. The Company undertakes no obligation to publicly update or revise any forward-looking statements or cautionary factors, as a result of new information, future events, or otherwise, except as required by law.

▦ Linked Companies

Apple Inc.

$1B+