Page 60 - Apple REIT 9 2008 Annual Report

“Courtyard® by Marriott® ,” Fairfield Inn® by Marriott®,” “Residence Inn ® by Marriott®,” “SpringHill Suites® by Marriott®,”
“TownePlace Suites® by Marriott®,” and “Marriott ®” are each a registered trademark of Marriott® International, Inc. or one of its
affiliates. All references to “Marriott®” mean Marriott ® International and all of its affiliates and subsidiaries, and their respective
officers, directors, agents, employees, accountants and attorneys. Marriott ® is not responsible for the content of this annual report,
whether relating to the hotel information, operating information, financial information, Marriott®’s relationship with Apple REIT Nine,
Inc. or otherwise. Marriott® is not involved in any way, whether as an “issuer” or “underwriter” or otherwise in the Apple REIT
Nine offering and receives no proceeds from the offering. Marriott® has not expressed any approval or disapproval regarding this
annual report, and the grant by Marriott® of any franchise or other rights to Apple REIT Nine shall not be construed as any expression
of approval or disapproval. Marriott® has not assumed and shall not have any liability in connection with this annual report.
“Hampton Inn ®,” “Hampton Inn and Suites®,” “Hilton Garden Inn®,” “Embassy Suites Hotels®,” and “Homewood Suites by
Hilton®” are each a registered trademark of Hilton® Hotels Corporation or one of its affiliates. All references to “Hilton®” mean
Hilton® Hotels Corporation and all of its affiliates and subsidiaries, and their respective officers, directors, agents, employees,
accountants and attorneys. Hilton® is not responsible for the content of this annual report, whether relating to hotel information,
operating information, financial information, Hilton®’s relationship with Apple REIT Nine, Inc., or otherwise. Hilton® is not
involved in any way, whether as an “issuer” or “underwriter” or otherwise, in the Apple REIT Nine offering and receives no
proceeds from the offering. Hilton® has not expressed any approval or disapproval regarding this annual report, and the grant by
Hilton® of any franchise or other rights to Apple REIT Nine shall not be construed as any expression of approval or disapproval.
Hilton® has not assumed and shall not have any liability in connection with this annual report.
This annual report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements involve known and unknown risks,
uncertainties, and other factors which may cause the actual results, performance, or achievements of the company to be materially
different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such
factors include: the availability and terms of financing; changes in national, regional and local economies and business conditions;
competitors within the hotel industry; the ability of the company to implement its acquisition strategy and operating strategy and
to manage planned growth; and the ability to repay or refinance debt as it becomes due. Although the company believes that the
assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate;
therefore, there can be no assurance that such statements included in this annual report will prove to be accurate. In addition, the
timing and level of distributions to shareholders are within the discretion of the company’s board of directors. In light of the significant
uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded
as a representation by the company or any other person that the results or conditions described in such statements or the objectives
and plans of the company will be achieved.
APPLE REIT NINE, INC. • 814 EAST MAIN STREET
RICHMOND, VIRGINIA 23219 • 804.344.8121 • 804.344.8129 FAX