Page 12 - Apple REIT 9 2008 Annual Report

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APPLE REIT NINE, INC.
FORM 10-K
Index
Page
Part I
Item 1. Business.................................................................................................................................................. 3
Item 1A. Risk Factors ........................................................................................................................................... 8
Item 1B. Unresolved Staff Comments................................................................................................................... 10
Item 2. Properties................................................................................................................................................ 10
Item 3. Legal Proceedings.................................................................................................................................. 12
Item 4. Submission of Matters to a Vote of Security Holders............................................................................ 12
Part II
Item 5. Market for Registrant’s Common Equity, Related Shareholder Matters and
Issuer Purchases of Equity Securities.................................................................................................. 13
Item 6. Selected Financial Data.......................................................................................................................... 15
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations................. 17
Item 7A. Quantitative and Qualitative Disclosures about Market Risk................................................................ 25
Item 8. Financial Statements and Supplementary Data...................................................................................... 26
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosures............... 43
Item 9A. Controls and Procedures......................................................................................................................... 43
Item 9B. Other Information................................................................................................................................... 43
Part III
Item 10. Directors, Executive Officers and Corporate Governance .................................................................... 44
Item 11. Executive Compensation ....................................................................................................................... 44
Item 12. Security Ownership of Certain Beneficial Owners and Management and
Related Shareholder Matters............................................................................................................... 44
Item 13. Certain Relationships and Related Transactions and Director Independence ....................................... 44
Item 14. Principal Accounting Fees and Services . .............................................................................................. 44
Part IV
Item 15. Exhibits, Financial Statement Schedules ............................................................................................... 45
Signatures
This Form 10-K includes references to certain trademarks or service marks. The Hampton Inn®, Hampton Inn and Suites®,
Homewood Suites® by Hilton, Embassy Suites Hotels® and Hilton Garden Inn® trademarks are the property of Hilton Hotels
Corporation or one or more of its affiliates. The Courtyard® by Marriott, Fairfield Inn® by Marriott, Fairfield Inn and Suites® by
Marriott, TownePlace Suites® by Marriott, SpringHill Suites® by Marriott and Residence Inn® by Marriott trademarks are the
property of Marriott International, Inc. or one of its affiliates. For convenience, the applicable trademark or service mark symbol has
been omitted but will be deemed to be included wherever the above referenced terms are used.