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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 30, 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:

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Apple REIT Nine, Inc. hereby amends Item 9.01 of its Current Report on Form 8-K dated December 30, 2008 and filed (by the required date) on January 2, 2009 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.

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

Not Applicable.

None.

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INDEPENDENT AUDITORS’ REPORT

To the Owners

RMRVH Jackson, LLC,

CYRMR Jackson, LLC, and

VH Fort Lauderdale Investment, LTD

We have audited the accompanying combined balance sheets of RMRVH Jackson, LLC, CYRMR Jackson, LLC, and VH Fort Lauderdale Investment, LTD (collectively, the “Companies”) as of December 30, 2007 and December 31, 2006, and the related combined statements of income, owners’ equity, and cash flows for the years then ended. These combined financial statements are the responsibility of the Companies’ management. Our responsibility is to express an opinion on these combined financial statements based on our audits.

We conducted our audits in accordance with U.S. generally accepted auditing standards. 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 combined financial statements referred to above present fairly, in all material respects, the financial position of RMRVH Jackson, LLC, CYRMR Jackson, LLC, and VH Fort Lauderdale Investment, LTD as of December 30, 2007 and December 31, 2006, and the results of their operations and their cash flows for the years then ended, in conformity with U.S. generally accepted accounting principles.

/s/ Pannell Kerr Forster of Texas, P.C.

January 12, 2009

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RMRVH JACKSON, LLC,

CYRMR JACKSON, LLC AND

VH FORT LAUDERDALE INVESTMENT, LTD

COMBINED BALANCE SHEETS

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

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RMRVH JACKSON, LLC,

CYRMR JACKSON, LLC AND

VH FORT LAUDERDALE INVESTMENT, LTD

COMBINED STATEMENTS OF INCOME

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

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RMRVH JACKSON, LLC,

CYRMR JACKSON, LLC AND

VH FORT LAUDERDALE INVESTMENT, LTD

COMBINED STATEMENTS OF OWNERS’ EQUITY

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

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RMRVH JACKSON, LLC,

CYRMR JACKSON, LLC AND

VH FORT LAUDERDALE INVESTMENT, LTD

COMBINED STATEMENTS OF CASH FLOWS

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

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RMRVH JACKSON, LLC,

CYRMR JACKSON, LLC AND

VH FORT LAUDERDALE INVESTMENT, LTD

NOTES TO COMBINED FINANCIAL STATEMENTS

DECEMBER 30, 2007 AND DECEMBER 31, 2006

Note 1—Organization and Summary of Significant Accounting Policies

RMRVH Jackson, LLC (a Tennessee limited liability company), CYRMR Jackson, LLC (a Tennessee limited liability company), and VH Fort Lauderdale Investment, LTD (a Florida limited partnership) were formed to own and operate the Hampton Inn & Suites Jackson, Courtyard Jackson, and Hampton Inn Ft. Lauderdale Airport hotels, respectively. Hampton Inn & Suites Jackson is an 83 room hotel located in Jackson, Tennessee, and it opened for business in January 2007. Courtyard Jackson is an 94 room hotel located in Jackson, Tennessee that was under construction as of December 30, 2007, and it opened for business in June 2008. Hampton Inn Ft. Lauderdale Airport is an 109 room hotel located in Ft. Lauderdale, Florida, and it opened for business in December 2001.

RMRVH Jackson, LLC, CYRMR Jackson, LLC, and VH Fort Lauderdale Investment, LTD will herein collectively be referred to as the “Companies.” Vista Host, Inc. (“Vista Host”), the management company, is responsible for the daily management of the hotels and accounting for the Companies. The Companies are affiliated through common ownership and management. The significant accounting policies of the Companies are as follows:

Basis of presentation

The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. and present the financial information of the Companies on a combined basis as of December 30, 2007 and December 31, 2006. All intercompany accounts and transactions have been eliminated in combination. The Companies end their fiscal years on the last Sunday of December.

Property and equipment

Property and equipment are stated at cost. Depreciation is calculated on the straight-line method based upon the estimated useful lives of the assets as follows:

Improvements that extend the life of the asset are capitalized. Maintenance and repairs are charged to expense as incurred.

Long-lived assets

The Companies review their long-lived assets and certain related intangibles for impairment whenever changes in circumstances indicate that the carrying amount of an asset may not be fully recoverable, as measured by comparing their book value to the estimated future cash flows generated by their use. The Companies do not believe that any such changes have occurred and there were no impairment losses recorded in 2007 and 2006.

Cash equivalents

For purposes of the statements of cash flows, the Companies consider all highly liquid instruments purchased with a maturity of three months or less to be cash equivalents.

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Accounts receivable

Accounts receivable represent unbilled hotel guest charges for guests staying at the hotels as of the end of the year and corporate account customer charges from various times throughout the year. The Companies estimate an allowance for doubtful accounts based on historical activity, with no allowance deemed necessary as of December 30, 2007 and December 31, 2006.

Reserve and escrow accounts

Reserve and escrow accounts represent cash held by third parties for purposes of paying property and real estate taxes and for funding future purchases of furniture, fixtures and equipment.

Deferred charges

Deferred charges include deferred loan costs and franchise fees. Deferred loan costs are those costs incurred in connection with obtaining mortgage notes payable and are amortized to interest expense, on a straight-line basis, over the term of the notes payable. Deferred franchise fees represent the initial fees to obtain the right to operate the hotels under the Hampton Inn and Courtyard franchise names. Deferred franchise fees are amortized on a straight-line basis from the date the hotels opened for business through the expiration dates of the franchise agreements. Deferred charges are shown net of accumulated amortization of $89,261 and $55,194 as of December 30, 2007 and December 31, 2006, respectively.

Income taxes

No income tax is reflected in the accompanying financial statements because any resulting income tax liability is that of the owners and not the Companies due to the limited liability company and limited partnership structures.

Owners’ equity

The Companies’ net income or loss is allocated to the owners in accordance with the Companies’ formation documents.

Revenue recognition

Revenues are derived primarily from the rental of hotel rooms and are recognized as earned.

Advertising

Advertising costs are expensed as incurred. Advertising expense was $342,537 and $196,127 for the years ended December 30, 2007 and December 31, 2006, respectively.

Concentrations of credit risk

Financial instruments which potentially subject the Companies to concentrations of credit risk are primarily cash equivalents, reserve and escrow accounts, and trade receivables.

The Companies maintain cash accounts in major U.S. financial institutions. The terms of these deposits are on demand to minimize risk. The balances of these accounts occasionally exceed the federally insured limits, although no losses have been incurred in connection with such cash balances.

Any losses incurred in connection with accounts receivable historically have been immaterial and considered a normal cost of operations.

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Economic concentrations

The Companies each operate one hotel. Future operations could be affected by economic or other conditions in their geographical area or by changes in the travel and tourism industry.

Use of estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles 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 combined financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Note 2—Mortgage Notes Payable

Mortgage notes payable consist of the following:

The RMRVH Jackson, LLC mortgage note payable was entered into on December 21, 2005 with an original principal amount of $6.4 million available for draw. Principal and interest payments are due monthly, commencing June 30, 2007, with a final payment due on the maturity date of May 31, 2011. Interest accrued at a rate of 7.54% through May 2007, and accrues at a rate of prime plus 0.25% thereafter. The prime rate was 7.50% at December 30, 2007. The note is secured by the underlying property.

The CYRMR Jackson, LLC mortgage note payable was entered into on April 2, 2007 with an original principal amount of $7.76 million available for draw. Principal and interest payments are due monthly, commencing September 1, 2008, with a final payment due on the maturity date of August 1, 2013. Interest accrues at the prime rate through August 2008, after which it will accrue at a fixed rate of 6.72%. The note is secured by the underlying property. During 2008, the remaining amount available was drawn for the completion of the hotel.

The VH Fort Lauderdale Investment, LTD mortgage note payable was entered into on November 1, 2000 with an original principal amount of $5.23 million available for draw, and was subsequently amended to increase the amount available to $7.0 million. Principal and interest payments are due monthly, with a final payment due on the maturity date of April 1, 2015. Interest accrues at a rate of 6.05%. The note is secured by the underlying property.

Accrued interest on the mortgage notes payable was $143,760 and $205,132 as of December 30, 2007 and December 31, 2006, respectively. Interest incurred during the construction of the hotels is capitalized to property and equipment. During the years ended December 30, 2007 and December 31, 2006, the Companies capitalized interest of $136,911 and $169,703, respectively.

Aggregate principal maturities of the mortgage notes payable at December 30, 2007 are:

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Note 3—Related Party Transactions

Hotel management agreement

Vista Host manages the Companies under the terms of an agreement with each entity. Principals of Vista Host are also equity holders of the Companies. The agreements entitle Vista Host to receive a base fee of 3% of gross revenues of each hotel, plus an incentive management fee of 2% of gross revenues after a preferred return to the owners. Management fees totaled $359,589 and $205,860 for the years ended December 30, 2007 and December 31, 2006, respectively, of which $26,953 and $16,440 was accrued for at December 30, 2007 and December 31, 2006, respectively.

Related party receivable

During 2007, RMRVH Jackson, LLC paid a $50,000 franchise fee on behalf of another hotel, under common ownership. The franchise fee is expected to be repaid once development of the hotel has begun. The receivable is fully collectible from the owners if the decision is made not to develop the hotel.

Note 4—Commitments and Contingencies

Litigation

The Companies are involved in various legal proceedings of a nature considered normal to its business. The outcome of legal proceedings, if any, is not expected to be material.

Service agreements

The Companies have entered into numerous service agreements for telecommunications, maintenance, pest control, billboard advertising, and other services, with various terms. Future commitments under these service agreements as of December 30, 2007 are as follows:

In addition to the above service agreements, the Companies are required under the franchise agreements to maintain computer system maintenance contracts with the franchisors. As of December 30, 2007, monthly fees for these contracts ranged from approximately $660 to $850 per month per hotel. These fees are subject to change at the discretion of the franchisors.

Note 5—Subsequent Events

During December 2008, the Companies sold the three hotels to Apple REIT Nine, Inc. The sale of Courtyard Jackson closed on December 16, 2008 for a purchase price of $15.2 million. The sale of Hampton Inn & Suites Jackson closed on December 30, 2008 for a purchase price of $12.6 million. The sale of Hampton Inn Ft. Lauderdale Airport closed on December 31, 2008 for a purchase price of approximately $19.3 million, including defeasance costs related to the payoff of the mortgage note payable that occurred in connection with the sale.

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RMRVH JACKSON, LLC,

CYRMR JACKSON, LLC AND

VH FORT LAUDERDALE INVESTMENT, LTD

COMBINED BALANCE SHEETS (UNAUDITED)

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RMRVH JACKSON, LLC,

CYRMR JACKSON, LLC AND

VH FORT LAUDERDALE INVESTMENT, LTD

COMBINED STATEMENTS OF INCOME (UNAUDITED)

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RMRVH JACKSON, LLC,

CYRMR JACKSON, LLC AND

VH FORT LAUDERDALE INVESTMENT, LTD

COMBINED STATEMENTS OF CASH FLOWS (UNAUDITED)

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INDEPENDENT AUDITOR’S REPORT

To the Partners of

Playhouse Square Hotel Associates and Playhouse Parking Associates, L.P.

(A Pennsylvania Limited Partnership)

We have audited the accompanying combined balance sheet of Playhouse Square Hotel Associates and Playhouse Parking Associates, L.P., both of which are under common management, as of December 30, 2007, and the related combined statement of income, combined changes in partners’ deficit, and combined cash flows for the 52-week period then ended. These financial statements are the responsibility of the Partnership’s management. Our responsibility is to express an opinion on these financial statements based on our audit. The accompanying financial statements as of and for the year ended December 31, 2006, were audited by other auditors whose report dated February 15, 2007, expressed an unqualified opinion on those statements.

We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit also 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 audit provides a reasonable basis for our opinion.

In our opinion, the combined financial statements referred to above present fairly, in all material respects, the financial position of Playhouse Square Hotel Associates and Playhouse Parking Associates, L.P. as of December 30, 2007, and the combined results of its operations and its cash flows for the 52-week period then ended in conformity with accounting principles generally accepted in the United States of America.

Our audit was conducted for the purpose of forming an opinion on the basic combined financial statements taken as a whole. The accompanying supplementary information is presented for purposes of additional analysis and is not a required part of the basic financial statements of the Partnership. Such information has been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the combined basic financial statements taken as a whole.

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PLAYHOUSE SQUARE HOTEL ASSOCIATES

AND PLAYHOUSE PARKING ASSOCIATES, L.P.

(A PENNSYLVANIA LIMITED PARTNERSHIP)

COMBINED BALANCE SHEETS

DECEMBER 30, 2007 AND DECEMBER 31, 2006

See notes to combined financial statements

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PLAYHOUSE SQUARE HOTEL ASSOCIATES

AND PLAYHOUSE PARKING ASSOCIATES, L.P.

(A PENNSYLVANIA LIMITED PARTNERSHIP)

COMBINED BALANCE SHEETS (CONTINUED)

DECEMBER 30, 2007 AND DECEMBER 31, 2006

LIABILITIES AND PARTNERS’ DEFICIT

See notes to combined financial statements

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PLAYHOUSE SQUARE HOTEL ASSOCIATES

AND PLAYHOUSE PARKING ASSOCIATES, L.P.

(A PENNSYLVANIA LIMITED PARTNERSHIP)

COMBINED STATEMENTS OF INCOME

FOR THE 52 WEEK PERIOD ENDED DECEMBER 30, 2007 AND

THE 52 WEEK PERIOD ENDED DECEMBER 31, 2006

See notes to combined financial statements

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PLAYHOUSE SQUARE HOTEL ASSOCIATES

AND PLAYHOUSE PARKING ASSOCIATES, L.P.

(A PENNSYLVANIA LIMITED PARTNERSHIP)

COMBINED STATEMENTS OF CHANGES IN PARTNERS’ DEFICIT

FOR THE 52 WEEK PERIOD ENDED DECEMBER 30, 2007 AND

THE 52 WEEK PERIOD ENDED DECEMBER 31, 2006

See notes to combined financial statements

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PLAYHOUSE SQUARE HOTEL ASSOCIATES

AND PLAYHOUSE PARKING ASSOCIATES, L.P.

(A PENNSYLVANIA LIMITED PARTNERSHIP)

COMBINED STATEMENTS OF CASH FLOWS

FOR THE 52 WEEK PERIOD ENDED DECEMBER 30, 2007 AND

THE 52 WEEK PERIOD ENDED DECEMBER 31, 2006

See notes to combined financial statements

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PLAYHOUSE SQUARE HOTEL ASSOCIATES

AND PLAYHOUSE PARKING ASSOCIATES, L.P.

(A PENNSYLVANIA LIMITED PARTNERSHIP)

COMBINED NOTES TO FINANCIAL STATEMENTS

FOR THE 52 WEEK PERIOD ENDED DECEMBER 30, 2007 AND

THE 52 WEEK PERIOD ENDED DECEMBER 31, 2006

1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Organization

Playhouse Square Hotel Associates (“Partnership”) was formed as a limited partnership, under the laws of the Commonwealth of Pennsylvania, on February 27, 1990 (partnership agreement last amended December 17, 2002), for the purpose of constructing, owning, and operating a 133-room hotel (the “Hotel”) located in Oakland, Pennsylvania which opened on March 1, 1991. In March 2004, Playhouse Parking Associates, L.P. (“Parking Associates”) was formed to acquire real property adjacent to the Hotel. The accounts of Playhouse Parking Associates, L.P. have been combined with the Partnership’s accounts. All intercompany balances and transactions have been eliminated.

The fiscal year of the Partnership ends on the Sunday closest to December 31 of each year. The fiscal year of Parking Associates is December 31.

The General Partners are NDC Properties, Inc. and HDBL Oakland Venture, Inc.

The following is a summary of significant accounting policies followed in preparation of these financial statements:

Depreciation

Depreciation of property and equipment, stated at cost, is computed using the straight-line method for buildings and accelerated methods for building equipment over the estimated useful lives of the assets ranging from five to thirty years.

Management of the Partnership assesses the recoverability of property and equipment by determining whether the depreciation of such assets over their remaining lives can be recovered through projected undiscounted cash flows. The amount of impairment, if any, is measured based on fair value (projected discounted cash flows) and is charged to operations in the period in which such impairment is determined by management. To date, management has not identified any impairment of property and equipment.

Amortization

The Partnership incurred cost of $278,681 in connection with the financing. These costs have been capitalized and are being amortized over the 10-year term of the mortgage. In addition, the Partnership paid a franchise fee of $35,000 in connection with its hotel operations. This amount is being amortized over the 20 year term of the agreement. Amortization expense for the 52 week period ended December 30, 2007 and the 52 week period ended December 31, 2006 was $29,619 and accumulated amortization was $171,540 and $141,921, all respectively.

Accounting for bad debts

Delinquent receivables are written off and included in bad debt expense in the period the balances are deemed to be uncollectible, which is generally after 90 days.

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Advertising costs

Advertising costs are expensed as incurred. Advertising expense totaled $185,628 and $149,395 for the 52 week period ended December 30, 2007 and the 52 week period ended December 31, 2006, respectively.

Income taxes

No provision for taxes on income is made in the Partnership financial statements since all taxable income and losses are allocated to the Partners for inclusion in their respective tax returns.

Property taxes

Property taxes are expensed in the year of the lien on the property such that twelve months of expense are charged to operations each year.

Cash and cash equivalents

For the statement of cash flows, unrestricted investments with original maturities of three months or less are cash equivalents. At December 30, 2007 and December 31, 2006, cash and cash equivalents consist of, an unrestricted checking account held at a bank and petty cash.

Concentration of credit risk

Financial instruments which potentially subject the Partnership to concentration of credit or custodial risk consist principally of cash, restricted deposits, and funded reserves held by the mortgagee. At December 30, 2007, the Partnership had cash balances in excess of FDIC limits by $698,369. Restricted deposits and funded reserves of $283,948 are administered by the mortgagee.

Use of estimates in the preparation of financial statements

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 and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Reclassification

Certain prior year amounts have been restated to conform to the current year financial statement presentation. These reclassifications had no effect on the reported combined net income.

2. MORTGAGES PAYABLE

Hotel mortgage

The Hotel mortgage bears interests at an annual rate of 7.37%, and is secured by substantially all of the Partnership’s assets. Monthly installments of principal and interest of $49,678 are payable beginning February 1, 2003 and continue through December 1, 2012, with the remaining balance due on January 1, 2013.

Under the Hotel mortgage agreement, the Partnership is required to make monthly escrow deposits for property taxes of $18,530, and monthly deposits for replacement of project assets of $12,088 as of December 31, 2006.

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Parking lot mortgage

The Partnership through Playhouse Parking Associates, L.P. entered into a mortgage for a parking lot with Vista Host Associates. Ltd. This mortgage bears the interest rate of 6% and is collateralized by the related property and is to be paid in quarterly installments of $15,176, commencing July 1, 2004 and continue through April l, 2009, at which time the remaining balance, if any, should be paid.

Maturities of the mortgage loans for the next five years and thereafter are approximately as follows: