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    Michael Herring

    Research Analyst at Green Street Advisors, LLC

    Michael Herring is an Equity Research Senior Associate at Green Street Advisors, LLC, specializing in REIT (Real Estate Investment Trust) sector analysis. He focuses on delivering in-depth equity research for listed property companies, though specific companies and detailed performance metrics are not publicly disclosed. Herring has built his career at Green Street Advisors, contributing to their highly regarded research team, and holds responsibilities that require strong analytical and sector expertise. He is recognized as an emerging professional with advanced knowledge in real estate finance, and holds relevant securities credentials necessary for senior research roles in the industry.

    Michael Herring's questions to Apple Hospitality REIT (APLE) leadership

    Michael Herring's questions to Apple Hospitality REIT (APLE) leadership • Q1 2025

    Question

    Michael Herring asked how hotel operators are approaching cost mitigation in response to the shifting demand mix. He also questioned whether the hotel industry, and Apple's portfolio in particular, is better positioned to handle a potential recession due to muted supply growth.

    Answer

    CFO Liz Perkins explained that while they are always focused on efficiency, they are not in 'deep cost mitigation territory' as occupancy remains strong, with efforts centered on productivity and reducing contract labor. CEO Justin Knight asserted that the lack of new supply in their markets significantly improves their risk profile, limiting downside and increasing upside potential, positioning them for stronger relative performance in any economic environment compared to past cycles.

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