We believe the U.S. lodging industry provides for a unique investment opportunity as a result of improving hotel lodging fundamentals due to increasing demand for hotel accommodations combined with a limited supply of new hotel properties, attractive valuation of hotel properties to replacement costs, and availability of acquisition opportunities. We also believe that as a result of the high quality of the initial rail portfolio, the long-term strategic relationships with railway operators, and our strategic external development arrangement with the developer, SunOne Developments Inc, we are well-positioned to participate in the growth of the U.S. lodging industry.
AHIP sources potential acquisitions from brokers, major lodging companies, developers and consulting groups. AHIP’s acquisition team is led by Dan Miller (Chief Investment Officer), who has been involved with over 200 transactions in the U.S.
Fund units trade on the Toronto Stock Exchange under the ticker symbol HOT.UN. Fund units also trade on the OTCQX International under the ticker symbol AHOTF.
AHIP pays a monthly cash distribution of US$0.054 per Unit or US$0.648 per Unit on an annualized basis. The monthly distributions will be paid on or about the 15th day following the end of each month. Prior to April 2016, AHIP paid a monthly cash distribution of Cdn$0.075 per Unit or Cdn$0.90 per Unit on an annualized basis.
Financial results will be released in May (first quarter), August (second quarter), November (third quarter) and March (year-end).
The auditors of AHIP are KPMG LLP.
AHIP’s long-term objectives will be to:
- generate stable and growing cash distributions from hotel properties substantially in the United States
- enhance the value of its assets and maximize the long-term value of the hotels properties through active management; and
- expand its asset base and increase its Adjusted Funds From Operations (“AFFO”) per Unit through an accretive acquisition program, participation in strategic development opportunities and improvements to the properties through targeted value-added capital expenditure programs.