What are Apple Hospitality Reit Inc's Business Segments?
Apple Hospitality REIT Inc is a real estate investment trust that invests in upscale select-service hotels in the United States. The company's portfolio consists of 236 hotels with over 30,000 guestrooms in 34 states. The following is an extensive description of segments, products, and services offered by Apple Hospitality REIT Inc:
1) SEGMENTS:
The company operates in two segments, namely:
a) Hotel Properties: The hotel properties segment includes the ownership and operation of upscale select-service hotels. These hotels offer limited food and beverage services, meeting spaces, and recreational amenities like fitness centers and swimming pools.
b) Other Investments: The other investments segment makes investments in entities that provide support services to the hotel industry, such as technology and data management companies.
2) PRODUCTS:
Apple Hospitality REIT Inc offers the following products to its customers:
a) Guestrooms: The company provides well-appointed guestrooms that are equipped with modern amenities like flat-screen TVs, high-speed internet, comfortable bedding, and spacious bathrooms.
b) Food and Beverage Services: Most of the hotels in the company's portfolio offer limited food and beverage services like complimentary breakfast, evening receptions, and on-site bars. Some hotels also provide in-room dining services.
c) Meeting Spaces: Many hotels in the company's portfolio have meeting spaces that can accommodate small to mid-sized groups for business meetings and social events.
d) Recreational Amenities: The hotels offer various recreational amenities like fitness centers, swimming pools, and hot tubs to provide guests with a relaxing and rejuvenating experience.
3) SERVICES:
Apple Hospitality REIT Inc provides the following services to its guests:
a) Reservation Services: The company offers reservation services to its guests through its website and third-party booking platforms.
b) Housekeeping Services: The company ensures that the guestrooms are kept clean and tidy by providing daily housekeeping services.
c) Laundry Services: Most hotels in the company's portfolio offer laundry services to their guests, including dry cleaning and pressing.
d) Security Services: The company provides 24-hour security services to ensure the safety and security of its guests.
e) Concierge Services: The hotels have an on-site concierge desk that provides guests with information about local attractions, restaurants, and transportation services.
Overall, Apple Hospitality REIT Inc offers a wide range of segments, products, and services to provide guests with a comfortable and memorable experience. The company's portfolio of upscale select-service hotels is designed to meet the needs of business and leisure travelers.
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