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    Josh Friedland

    Senior Equity Research Associate at KeyBanc Capital Markets

    Josh Friedland is a Senior Equity Research Associate at KeyBanc Capital Markets, specializing in coverage of the real estate investment trust (REIT) sector with a focus on companies such as Summit Hotel Properties. He has played an active role in equity research calls and financial analysis for publicly traded REITs, demonstrating sector-specific expertise that contributes to actionable investment recommendations. Friedland began his finance career after business school, previously holding analyst positions at firms such as Wilder Balter Partners and Hudson Partners Securities before joining KeyBanc Capital Markets, where he has served for over a year. He is a FINRA-registered broker, holding active securities licenses as verified by his BrokerCheck profile.

    Josh Friedland's questions to Apple Hospitality REIT (APLE) leadership

    Josh Friedland's questions to Apple Hospitality REIT (APLE) leadership • Q2 2025

    Question

    Josh Friedland of KeyBanc Capital Markets inquired about Apple Hospitality's decision to lower RevPAR guidance despite positive July trends and questioned the strategy for adding group business in the third quarter.

    Answer

    CFO Liz Perkins explained that the guidance adjustment was based on the current booking data for August and September, which appears soft, but acknowledged potential upside if recent positive trends continue. She also stated that group business was accretive to ADR in Q2 and a key driver of performance, so the company will continue to strategically layer in group bookings at attractive rates to optimize RevPAR.

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