Apple Real Estate Investment Trust Companies consist of two non-listed, public, real estate investment trusts (REIT) collectively referred to as the Apple REIT Companies. These two separate companies, Apple REIT Six, Inc. and Apple REIT Seven, Inc., each with a focus on the acquisition and ownership of high quality income-producing real estate, were formed by Glade M. Knight, Chairman and Chief Executive Officer and are headquartered in Richmond, Virginia. Mr. Knight also successfully formed Apple Hospitality Two, Inc., which was sold to an affiliate of ING Clarion on May 23, 2007. Apple Hospitality Five, Inc., another successful Knight-created hospitality REIT, was sold to Inland American Real Estate Trust, Inc. on October 5, 2007.

 

Our Mission

Apple REIT Companies is a term used to collectively refer to a group of premier investment companies committed to providing maximum value for our shareholders.

 

Our Objectives

Apple REIT Companies’ objectives are to consistently provide the highest possible shareholder returns, protect shareholder principal, and grow earnings; by implementing dynamic, productive and sustainable business strategies, building quality relationships based on integrity, responsibility and respect, and creating a work environment where team members are valued and our mission is fulfilled.

 

Our Values

 

Integrity
We exemplify the highest standards of personal and professional ethics in all aspects of our business. We believe in being open, honest and trustworthy, and in taking responsibility for our actions. We are committed to being fair and objective, and to acting in accordance with our convictions. We comply fully with the letter and spirit of the laws, rules and practices that govern Apple REIT Companies.

 

Respect
We treat others as we desire to be treated. We respect the dignity of each individual, whether an Apple team member, shareholder, partner, colleague, or member of the community. We behave professionally and responsibly. We value diversity and support an environment where people of different backgrounds can reach their fullest potential with equal access to opportunities. We embrace a corporate culture where work and personal life are balanced.

 

Loyalty
We appreciate those who show loyalty to us, and we promise loyalty to them in return. We recognize and reward individual contributions and achievements. We deliver on our commitments, and commit ourselves to acting in the best interests of our shareholders, Apple team members, partners, colleagues, and community.

 

Entrepreneurship

We have confidence in the intelligence, talents, skills and foresight of our Apple team members and we believe that our company operates best in an entrepreneurial environment. We empower our people to make timely and responsible decisions and to take actions necessary to achieve exceptional operating results.

 

Collaboration
We value individual differences in style, perspectives and background, and we value independent thinking and talent, but we believe that individual contributions made in a collaborative setting are most effective. We cooperate and collaborate within and across workgroups and teams, and share our successes and failures. We are dependable and reliable and share the workload. We communicate and share information openly and candidly with each other. We forge relationships that are beneficial for all parties involved.

 

Improvement
We believe in continuous improvement, encouraging our people to think innovatively and respond dynamically. We provide superior training and resources, and encourage our people to grow both professionally and personally. We demand high standards from ourselves, challenging us to reach our potential.

 

Competency
We recruit and retain exceptional people with high levels of skill, education, and experience. We value motivated and ambitious individuals who work efficiently and productively to help us fulfill our mission.

 

Our Team Member Promise
Our team members are the heart of our organization. We are committed to fostering an entrepreneurial culture where we employ the most capable and talented individuals and encourage them to think independently in a collaborative setting, enabling them to grow both personally and professionally. Apple REIT Companies embrace a work environment where our values are lived, life balance is encouraged, individual aspirations are achieved, and our mission is fulfilled.