onurdongel/E+ via Getty Images A sound understanding of the interaction between leverage and sector cyclicality provides insight into the hotel sector. This article will look at Apple Hospitality (NYSE:APLE) as a case study on this interaction, and after discussing the concept, we will use it to point out clear mispricing in the sector. Recovered, but not really Hotel revenues have entirely recovered from the pandemic and are now hitting record highs. On January 18th Smith Travel Research reported: “The U.S ...