UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K/A

AMENDMENT NO. 1

TO

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Original Report (earliest event reported): December 4, 2008

APPLE REIT NINE, INC.

(Exact name of registrant as specified in its charter)

(804) 344-8121

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Apple REIT Nine, Inc. hereby amends Item 9.01 of its Current Report on Form 8-K dated December 4, 2008 and filed (by the required date) on December 5, 2008 for the purpose of filing certain financial statements and information. In accordance with Rule 12b-15 under the Securities Exchange Act of 1934, as amended, this Amendment No. 1 sets forth the complete text of the item as amended.

Durham, North Carolina - Homewood Suites

(Audited)

(Unudited)

The below pro forma financial information pertains to the hotel referred to in the financial statements (see (a) above) and to a separate group of recently purchased hotels.

Apple REIT Nine, Inc. (Unaudited)

Not Applicable.

None.

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INDEPENDENT AUDITORS’ REPORT

To the Board of Directors

Apple Nine Hospitality, Inc.

Richmond, Virginia

We have audited the accompanying balance sheets of the Durham, North Carolina—Hilton Homewood Suites Hotel (the Hotel), as of December 31, 2007 and 2006, and the related statements of operations, members’ deficit and cash flows for the years then ended. These financial statements are the responsibility of the management of the Hotel. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted in the United States. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Hotel as of December 31, 2007 and 2006, and the results of its operations and cash flows for the years then ended in conformity with accounting principles generally accepted in the United States.

/s/ L.P. Martin & Company, P.C.

December 3, 2008

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DURHAM, NORTH CAROLINA—HILTON HOMEWOOD SUITES HOTEL

BALANCE SHEETS

DECEMBER 31, 2007 AND 2006

The accompanying notes are an integral part of these financial statements.

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DURHAM, NORTH CAROLINA—HILTON HOMEWOOD SUITES HOTEL

STATEMENTS OF MEMBERS’ DEFICIT

YEARS ENDED DECEMBER 31, 2007 AND 2006

The accompanying notes are an integral part of these financial statements.

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DURHAM, NORTH CAROLINA—HILTON HOMEWOOD SUITES HOTEL

STATEMENTS OF OPERATIONS

YEARS ENDED DECEMBER 31, 2007 AND 2006

The accompanying notes are an integral part of these financial statements.

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DURHAM, NORTH CAROLINA—HILTON HOMEWOOD SUITES HOTEL

STATEMENTS OF CASH FLOWS

YEARS ENDED DECEMBER 31, 2007 AND 2006

The accompanying notes are an integral part of these financial statements.

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DURHAM, NORTH CAROLINA—HILTON HOMEWOOD SUITES HOTEL

NOTES TO THE FINANCIAL STATEMENTS

YEARS ENDED DECEMBER 31, 2007 AND 2006

NOTE 1—ORGANIZATION AND BASIS OF PRESENTATION

The accompanying financial statements present the financial information of the 122 room Hilton Homewood Suites Hotel located at 4603 Central Park Drive in Durham, North Carolina (the Hotel) as of December 31, 2007 and 2006 and for the years then ended. The Hotel opened for business in 1998. The Hotel was developed by Ralham, LLC, a North Carolina limited liability company and has been owned by the limited liability company from inception.

Hilton Homewood Suites Hotels specialize in providing extended stay lodging for business or leisure travelers. Economic conditions in the Hotel locality will impact the Hotel’s future revenues and the ability to collect accounts receivable.

NOTE 2—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Use of Estimates—The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates.

Cash and Cash Equivalents—Cash and cash equivalents includes cash on hand and demand deposits in banks.

Concentrations—Cash maintained at major financial institutions may at times during the year be in excess of the FDIC-insured limit. At December 31, 2007, cash deposits exceeded FDIC insurance limits by $187,213.

Accounts Receivable—Accounts receivable is comprised primarily of trade and credit card receivables due from Hotel guests. Accounts outstanding greater than 90 days are reviewed by management and any amounts deemed uncollectible are written off. The accounts receivable balances are considered to be fully collectable, and accordingly, allowances for doubtful accounts have not been recorded. It is possible that certain balances will become uncollectible.

Investment in Hotel Property—Land, building and improvements and furnishings and equipment are stated at the Owners’ cost. Costs of normal repairs and maintenance are charged to expense as incurred. Upon the sale or retirement of property and equipment, the cost and related accumulated depreciation are removed from the respective accounts, and the resulting gain or loss, if any, is included in income.

The respective classes of Hotel Property are depreciated using the straight-line method over the following lives:

Asset Impairment—Long-lived assets are evaluated for impairment based on undiscounted future cash flows, and, if impaired, are carried at fair value. Assets to be disposed of are reported at the lower of carrying value or fair value less cost to sell. No impairment losses have been recorded to date.

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Intangible Assets—Loan costs are amortized straight-line over the term of the mortgage loan. Franchise fees are amortized straight-line over the term of the franchise agreement. Amortization expense is estimated to be $5,999 in each of the next five years.

Revenue Recognition—Room and other operating revenues represent revenue derived from rental of rooms and other associated customer fees. Revenue is recognized as room stays occur and other services are provided.

Advertising—Advertising costs are expensed in the period incurred.

Income Taxes—The Hotel property was owned by a limited liability company throughout the financial statement periods. Income and losses of a limited liability company are passed through to the members and taxed on their individual income tax returns. Accordingly, these financial statements do not reflect an income tax provision.

NOTE 3—RELATED PARTY TRANSACTIONS

In October 1996, the Owner entered into a franchise agreement to operate as a Homewood Suites Hotel. The agreement, which required an initial franchise fee of $45,000, extends through October 24, 2017. The franchise fee is being amortized straight-line over the term of the agreement.

The statement of operations includes the following expenses paid to Hilton Hotels Corporation or affiliated entities:

The Hotel is managed by an affiliate of the managing member of the Hotel Owner. Management fees totaled $157,264 and $144,561 in 2007 and 2006, respectively.

The December 31, 2007 and 2006 balances in affiliate advances are comprised of non-interest bearing advances to members and affiliated entities. During 2006, members of the Owner advanced funds to the Owner to fund Hotel furnishings and equipment acquisitions. 2006 interest payments by the Hotel Owner on the members’ personal credit line totaling $40,148 have been expensed in the 2006 statement of operations.

NOTE 4—MORTGAGE AND NOTE PAYABLE

The Hotel property is encumbered by a mortgage loan payable to General Electric Capital Corporation in the amounts of $11,799,576 and $11,983,988 at December 31, 2007 and 2006, respectively. The loan dated September 28, 2006, bears interest at LIBOR plus 1.52%, 6.745% at December 31, 2007. The loan is payable in 300 monthly installments of principal and interest with the final installment due October 1, 2031. Below is a schedule of future required principal curtailments.

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The Owner also has an unsecured business line of credit with Wachovia Bank, National Association in the amount of $75,000. The loan, which is due on demand, had no outstanding balance at December 31, 2007 or 2006. Outstanding advances bear interest at PRIME plus 2.5%.

NOTE 5—COMMITMENTS AND CONTINGENCIES

The Owner has entered into two six year agreements to lease satellite television equipment and license satellite programming to each of the Hotel rooms. The agreements, which run through 2012, require monthly installments of $1,323. Rent expense totaled $15,876 in 2007. For financial statement purposes, these agreements have been classified as operating leases. Below is a schedule of future required lease payments for the next five years.

On October 10, 2008, the Owner of the Hotel property entered into a contract to sell the Hotel property to an affiliate of Apple Nine Hospitality, Inc for $19,050,000. The sale is anticipated to close by year end.

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DURHAM, NORTH CAROLINA—HILTON HOMEWOOD SUITES HOTEL

BALANCE SHEETS

SEPTEMBER 30, 2008 AND 2007

(UNAUDITED)

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DURHAM, NORTH CAROLINA—HILTON HOMEWOOD SUITES HOTEL

STATEMENTS OF MEMBERS’ DEFICIT

NINE MONTH PERIODS ENDED SEPTEMBER 30, 2008 AND 2007

(UNAUDITED)

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DURHAM, NORTH CAROLINA—HILTON HOMEWOOD SUITES HOTEL

STATEMENTS OF OPERATIONS

NINE MONTH PERIODS ENDED SEPTEMBER 30, 2008 AND 2007

(UNAUDITED)

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DURHAM, NORTH CAROLINA—HILTON HOMEWOOD SUITES HOTEL

STATEMENTS OF CASH FLOWS

NINE MONTH PERIODS ENDED SEPTEMBER 30, 2008 AND 2007

(UNAUDITED)

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Apple REIT Nine, Inc.

Pro Forma Condensed Consolidated Balance Sheet as of September 30, 2008 (unaudited)

(in thousands, except share data)

The following unaudited Pro Forma Condensed Consolidated Balance Sheet of Apple REIT Nine, Inc. gives effect to the following hotel acquisitions:

This Pro Forma Condensed Consolidated Balance Sheet also assumes all of the hotels had been leased to our wholly-owned taxable REIT subsidiaries pursuant to master hotel lease arrangements. The hotels acquired will be managed by affiliates of Texas Western Management Partners, L.P., Dimension Development Company, McKibbon Hotel Group, Inc., Gateway Hospitality Group, Inc., LBAM-Investor Group, L.L.C. and Vista Host, Inc. under separate management agreements.

Such pro forma information is based in part upon the historical Consolidated Balance Sheet of Apple REIT Nine, Inc. and the historical balance sheets of the hotel properties.

The following unaudited Pro Forma Condensed Consolidated Balance Sheet of Apple REIT Nine, Inc. is not necessarily indicative of what the actual financial position would have been assuming such transactions had been completed as of September 30, 2008, nor does it purport to represent the future financial position of Apple REIT Nine, Inc.

The unaudited Pro Forma Condensed Consolidated Balance Sheet should be read in conjunction with, and is qualified in its entirety by, the historical balance sheets of the acquired hotels.

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Balance Sheet as of September 30, 2008 (unaudited) (continued)

(In thousands, except share data)

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Notes to Pro Forma Condensed Consolidated Balance Sheet (unaudited)

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Apple REIT Nine, Inc.

Pro Forma Condensed Consolidated Statements of Operations (unaudited)

For the year ended December 31, 2007 and nine months ended September 30, 2008

(in thousands, except per share data)

The following unaudited Pro Forma Condensed Consolidated Statements of Operations of Apple REIT Nine, Inc. gives effect to the following hotel acquisitions:

These Pro Forma Condensed Consolidated Statements of Operations also assume all of the hotels had been leased to our wholly-owned taxable REIT subsidiaries pursuant to master hotel lease arrangements. The hotels acquired will be managed by affiliates of Texas Western Management Partners, L.P., Dimension Development Company, McKibbon Hotel Group, Inc., Gateway Hospitality Group, Inc., LBAM-Investor Group, L.L.C. and Vista Host, Inc. under separate management agreements.

Such pro forma information is based in part upon the historical Consolidated Statements of Operations of Apple REIT Nine, Inc. and the historical Statements of Operations of the hotel properties.

The following unaudited Pro Forma Condensed Consolidated Statements of Operations of Apple REIT Nine, Inc. are not necessarily indicative of what the actual financial results would have been assuming such transactions had been completed on the latter of January 1, 2007, or the date the hotel began operations nor do they purport to represent the future financial results of Apple REIT Nine, Inc.

The unaudited Pro Forma Condensed Consolidated Statements of Operations should be read in conjunction with, and are qualified in their entirety by the historical Statements of Operations of the acquired hotels.

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Pro Forma Condensed Consolidated Statement of Operations (unaudited) (continued)

For the nine months ended September 30, 2008

(In thousands, except per share data)