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Building on Success
Since its inception, American Hotel Income Properties’ portfolio has continually grown and diversified to focus on premium branded, select-service hotels located in the United States in larger secondary markets. Here is an overview of the company’s history.
AHIP Inks Deal with Wyndham Hotel Group to rebrand 46 rail hotels
AHIP is pleased to announce it has entered into a significant branding agreement with Wyndham Hotel Group to rebrand 44 Oak Tree Inn hotels over to Wyndham’s Baymont Inn and Suites®, Travelodge®, and Super 8® brands. Days Inn Fargo, ND will retain its Wyndham flag and the recently acquired Big Mountain Lodge Whitefish, MT will transition to Baymont Inn & Suites.
A TRANSFORMATIVE ACQUISITION OF 18 HOTELS IN NE U.S. BRINGS PORTFOLIO TO 113 PROPERTIES
AHIP completes the acquisition of a geographically-targeted portfolio of 18 premium branded Marriott and Hilton hotels containing 2,187 guestrooms, located in Maryland, New Jersey, New York, Connecticut and Pennsylvania for approximately US$407.4 million, including brand-mandated property improvement plans.
AHIP Completes Acquisition of three midwestern Embassy Suites FOR US$124M
Located in proximity to Columbus, Cleveland and Cincinnati, Ohio; with this acquisition, AHIP’s portfolio now consists of 96 hotels totaling 9,467 guestrooms, with 50 branded hotels totaling 5,574 guestrooms and 46 rail crew hotels totaling 3,893 guestrooms.
AHIP COMPLETES ACQUISITION OF TWO EMBASSY SUITES in TX & AZ fOR US$57.6M
The two hotels include the 305-room Embassy Suites by Hilton Dallas DFW Airport South hotel located in proximity to Dallas/Fort Worth International Airport and the 224-room Embassy Suites by Hilton Phoenix Tempe, which is located near Arizona State University.
AHIP ANNOUNCES RENEWAL OF SIX LONG TERM RAIL CREW LODGING CONTRACTS TO 2022
The Contract Renewal encompasses three contracts maturing in 2016 and three contracts maturing in 2017, which cover six Oak Tree Inn hotels with a total of 432 guestrooms, or 11.1% of AHIP’s total rail crew guestrooms.
A further SIX premium BRANDED & SELECT-SERVICE HOTELS acquired IN FLORIDA FOR US$61.0 MILLION
The Properties include the Holiday Inn Express & Suites Fort Myers, FL; Holiday Inn Express & Suites Sarasota, FL Staybridge Suites Tampa, FL; Wingate by Wyndham Tampa, FL; Courtyard by Marriott Tampa, FL; and the Fairfield Inn & Suites Orlando, FL.
FOUR MARRIOTT, SELECT-SERVICE HOTELS IN FLORIDA AND TENNESSEE JOIN AHIP'S PORTFOLIO
The four hotels are franchised by Marriott are strategically located near major transportation corridors and a variety of commercial, manufacturing and distribution demand generators.
A premium Branded, Select-Service Portfolio of nine hotels acquired for $53.5 million
Located in Illinois, Iowa, Kansas, Missouri and Oklahoma, the hotels are franchised by IHG, Hilton, and Carlson Rezidor Hotel Group and are situated along major U.S. Interstate Highways near transportation hubs and other major demand generators.
AHIP ANNOUNCES MILESTONE RENEWAL OF 15 RAIL conTRACTs
With its largest railway customer, AHIP renews 15 lodging contracts for a term of five years, effective November 1, 2015.
AHIP Announces the Acquisition of its 80th Income Property
AHIP acquires its 80th income property – a 133-room hotel located in Lincoln, Nebraska. The Lincoln Property was acquired for an aggregate purchase price of approximately US$3.9 million
AHIP COMPLETES STRATEGIC PORTFOLIO ACQUISITION OF FIVE RAILWAY HOTELS
The portfolio is comprised of 586 guestrooms across five hotels located in Belen, New Mexico; Edgemont, South Dakota; Gillette, Wyoming; Guernsey, Wyoming; and Ravenna, Nebraska.
AHIP COMPLETES PORTFOLIO ACQUISITION OF THREE MARRIOTT, SELECT-SERVICE HOTELS IN FLORIDA FOR US$30.8M
The properties are located in Ocala, Florida with a total of 352 guestrooms and include a 169-room Courtyard, a 96-room Fairfield Inn & Suites and an 87-room Residence Inn.
AHIP Acquires $30.5 million Branded-Hotel Portfolio
The acquisition represents a total of 387 guest rooms located near transportation hubs and other major demand generators such as military bases, manufacturing facilities, medical centers, and golf and leisure attractions
AHIP COMPLEtes US$41.0 M PORTFOLIO ACQUISITION IN NORTH CAROLINA AND FLORIDA
The properties contain a total of 353 guestrooms and are comprised of three Marriott branded properties (a 94-room Courtyard by Marriott hotel in Statesville, North Carolina, an 83-room Fairfield Inn & Suites hotel in Melbourne, Florida and a 96-room Fairfield Inn & Suites hotel in Titusville, Florida) and one Hilton branded property (an 80-room Hampton Inn in Statesville, North Carolina).
AHIP Announces the Acquisition of its 60th Hotel
AHIP acquires its 60th hotel – a newly built 25-room Oak Tree Inn and Penny’s Diner in Brunswick, Maryland from SunONE Developments Inc. for a total purchase price of approximately US$2.8 million
AHIP ANNOUNCES CDN$45.0M BOUGHT DEAL EQUITY FINANCING AND ACQUISITION OF SEVEN HOTELS IN OKLAHOMA AND TEXAS
AHIP intends to use the net proceeds from the Offering, in conjunction with the remaining proceeds from its equity offering that closed on June 4, 2014, to: (i) partially fund the purchase of two high-quality nationally-branded hotel portfolios in Oklahoma and Texas and partially fund the potential acquisition of another portfolio of hotels in the southeast US that is under preliminary review.
AHIP ANNOUNCES US$30.5 MILLION BRANDED HOTEL PORTFOLIO ACQUISITION
The properties are located in Asheboro, NC; Pinehurst, NC; and Kingsland, GA, near transportation hubs and other major demand generators such as military bases, manufacturing facilities, medical centres, and golf and leisure attractions.
AHIP ANNOUNCES US$57.3M HOTEL PORTFOLIO ACQUISITION AND $35.0 MILLION EQUITY FINANCING
The four hotel properties are located in metropolitan Pittsburgh, Pennsylvania and were acquired for an aggregate purchase price of approximately US$57.3 million, excluding post-acquisition adjustments and brand mandated property improvement plans.
AMERICAN HOTEL INCOME PROPERTIES REIT LP ANNOUNCES OTCQX LISTING
AHIP announced today that its Limited Partnership Units have been approved for trading in the US on the OTCQX International marketplace. AHIP will trade under the symbol “AHOTF”.
AMERICAN HOTEL INCOME PROPERTIES REIT LP COMPLETES ITS INITIAL PUBLIC OFFERING
AHIP announced today the successful closing of its initial public offering of 9,570,000 limited partnership units priced at Cdn$10.00 per Unit, for total gross proceeds of Cdn$95.7 million.