Apple Hospitality REIT, Inc. today announced results of operations for the fourth quarter and full year ended December 31, 2023.
Apple Hospitality REIT, Inc.
Selected Statistical and.
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U.S. hotel performance was affected by two significant demand-influencing events during 25 September to 1 October 2022 Rosh Hashanah and Hurricane Ian. The religious observance was mostly responsible for a fall in U.S. room demand, which was down 5.1% week on week (WoW) with the largest declines occurring on Monday and Tuesday.
In this Issue:
United States
1. FTC abandons challenge to Philadelphia hospital merger.
On March 1, 2021, the FTC, suffering its first loss in a hospital merger challenge since 2016, voted 4-0 to end its effort to stop the proposed $599 million merger of Philadelphia-area health care systems Jefferson Health and Albert Einstein Healthcare Network. The FTC’s decision comes about a month and a half after the Pennsylvania Attorney General’s office dropped out of the joint challenge.
The FTC challenged the merger on the basis that it would hurt competition in the Philadelphia-area health care market, and after a defeat at the district court, told the appellate court that the judge had applied “faulty economic reasoning.” The FTC alleged that a combined network would control over 60% of the market for inpatient general acute care services in and around North Philadelphia and at least 45% of the market for those services in and around Montgomery County. The FTC alleged that t