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AMERICAN HOTEL INCOME PROPERTIES REIT LP ANNOUNCES APRIL 2018 U.S. DOLLAR CASH DISTRIBUTION

Vancouver, BC (April 16, 2018)

EARNINGS RELEASES

American Hotel Income Properties REIT LP (“AHIP”) (TSX: HOT.UN, HOT.U, and HOT.DB.U) announced today a cash distribution of US$0.054 per limited partnership unit (“Unit”) for the period of April 1, 2018 to April 30, 2018, which is equivalent to US$0.648 per Unit on an annualized basis. The distribution will be paid on May 15, 2018 to unitholders of record at the close of business on April 30, 2018.

The policy of AHIP is to pay cash distributions on or about the 15th day of each month to the unitholders of record on the last business day of the preceding month.


ABOUT AMERICAN HOTEL INCOME PROPERTIES REIT LP

American Hotel Income Properties REIT LP (TSX: HOT.UN; HOT.U and HOT.DB.U), or AHIP, is a limited partnership formed to invest in hotel real estate properties located substantially in the United States. AHIP currently has 115 hotels, and is actively engaged in growing its portfolio of premium branded, select-service hotels in larger secondary markets that have diverse and stable demand. AHIP hotels operate under brands affiliated with Marriott, Hilton, IHG, Wyndham and Choice Hotels through license agreements.  The company’s long-term objectives are to build on its proven track record of successful investment, deliver reliable and consistent U.S. dollar denominated distributions to unitholders, and generate value through the continued growth of its diversified hotel portfolio.  More information is available at www.ahipreit.com.

 

For further information, please contact:

Jamie Kokoska
Director, Investor Relations
Phone: 604-670-6242
Email: jkokoska@ahipreit.com

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AMERICAN HOTEL INCOME PROPERTIES REIT LP ANNOUNCES AIMBRIDGE HOSPITALITY TO ASSUME HOTEL MANAGEMENT RESPONSIBILITIES

Vancouver, BC (April 2, 2018)

HOTEL MANAGEMENT

American Hotel Income Properties REIT LP (“AHIP”) (TSX: HOT.UN, HOT.U and HOT.DB.U) is pleased to announce that Aimbridge Hospitality (“Aimbridge”), a leading U.S.-based hotel management company, has entered into a binding agreement with ONE Lodging Management (“ONE”) to assume the hotel management responsibilities for all of AHIP’s 115 hotels. Aimbridge’s assumption of management responsibilities is expected to take place by the end of April 2018, and the transaction is subject to customary closing conditions. There will be a transition period with ONE’s leadership team to help ensure a smooth management transfer. The terms of the hotel management agreements will remain the same.

“This is a very positive strategic development for AHIP. As our portfolio has grown, and most recently with our major acquisitions in 2017, our need to partner with a leading external hotel management company that brings first-class experience and deep bench strength across the United States has become increasingly clear,” said Ian McAuley, President, AHIP. “We believe Aimbridge’s expertise will improve our hotel operating performance, facilitate continued growth through its extensive networks and create value for our unitholders.”

“We expect that Aimbridge’s economies of scale and purchasing power will provide tangible benefits for AHIP,” commented Rob O’Neill, CEO, AHIP. “Its reputation as a fast-growing leader in the hotel management sector will also enhance the ability to attract and retain talented employees in our hotels.”

Aimbridge is the largest independent hotel investment and management firm in the U.S., with a proven track record for delivering superior returns for its strategic partners in a variety of markets and economic cycles. Aimbridge provides property management, asset management, development, renovation and consulting services. Based in Dallas and with offices in Chicago and Puerto Rico, it currently owns and/or manages over 700 upscale, independent and branded hotels with approximately 90,000 rooms under management across the U.S. and the Caribbean. For more information on Aimbridge, please visit www.aimbridgehospitality.com.

Michael Murphy, Chairman of AHIP’s Board of Directors, added: “Aimbridge is a leading results-oriented hotel management company that has the scale and experience needed to drive incremental revenue and earnings accretion for AHIP going forward. We appreciate all that ONE has done to facilitate our growth in recent years and are now looking forward to a new chapter with Aimbridge.”

In addition to the new partnership with Aimbridge, AHIP has reached an agreement with SunOne Developments (“SunOne”), AHIP’s existing development management partner, to terminate its exclusive hotel development agreement (the “Development Agreement”) with SunOne concurrently with the completion of the transfer of ONE’s responsibilities to Aimbridge. This termination is without cost to AHIP and will provide it with the flexibility to work with the most qualified and appropriate development partners available for new opportunities as they arise.

ABOUT AMERICAN HOTEL INCOME PROPERTIES REIT LP
American Hotel Income Properties REIT LP (TSX: HOT.UN; HOT.U and HOT.DB.U), or AHIP, is a limited partnership formed to invest in hotel real estate properties located substantially in the United States. AHIP currently owns 115 hotels, and is actively engaged in growing its portfolio of premium branded, select-service hotels in larger secondary U.S. markets that have diverse and stable demand. AHIP hotels operate under brands affiliated with Marriott, Hilton, IHG, Wyndham and Choice Hotels through license agreements. AHIP’s long-term objectives are to build on its proven track record of successful investment, deliver reliable and consistent U.S. dollar denominated distributions to unitholders, and generate value through the continued growth of its diversified hotel portfolio. More information is available at www.ahipreit.com.

FORWARD-LOOKING INFORMATION
Certain statements in this news release may constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information involves known and unknown risks, uncertainties and other factors, and it may cause actual results, performance or achievements or industry results, to be materially different from any future results, performance or achievements or industry results expressed or implied by such forward-looking information. Forward-looking information generally can be identified by the use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “feel”, “intend”, “may”, “plan”, “predict”, “project”, “subject to”, “will”, “would”, and similar terms and phrases, including references to assumptions. Some of the specific forward-looking information referred to in this news release includes, but is not limited to, statements with respect to: the expected timing of the closing of the intended transaction between Aimbridge and ONE; the expectation that there will be a transition period with ONE’s leadership team to help ensure a smooth management transfer; the terms of the hotel management agreements will remain the same following completion of the transaction; the belief that Aimbridge’s expertise will improve AHIP’s operating performance including by driving incremental revenue and earnings accretion, facilitate continued growth through its extensive networks and create value for AHIP’s unitholders; the belief that Aimbridge’s economies of scale and purchasing power will provide tangible benefits for AHIP and that Aimbridge’s reputation as a fast-growing leader in the hotel management sector will enhance the ability to attract and retain talented employees in AHIP’s hotels; the termination of the Development Agreement with SunOne concurrent with the completion of the transfer of ONE’s responsibilities to Aimbridge and the expectation that such termination will provide AHIP with the flexibility to work with the most qualified and appropriate development partners available for new opportunities as they arise; and AHIP’s long-term objectives.

Forward-looking information is based on a number of key expectations and assumptions made by AHIP, including, without limitation: that the transaction between Aimbridge and ONE will complete at the time and on the terms currently expected and that the Development Agreement will be terminated at the same time; that AHIP will realize the expected benefits of both the transaction between Aimbridge and ONE and the termination of the Development Agreement as contemplated in this news release; a reasonably stable North American economy and stock market; the continued strength of the U.S. lodging industry; capital markets will provide AHIP with readily available access to equity and/or debt financing on terms acceptable to AHIP; the accuracy of third party reports with respect to lodging industry data; and the value of the U.S. dollar. Although the forward-looking information contained in this news release is based on what AHIP’s management believes to be reasonable assumptions, AHIP cannot assure investors that actual results will be consistent with such information.

Forward-looking information is provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking information involves significant risks and uncertainties and should not be read as guarantees of future performance or results. Those risks and uncertainties include, among other things, risks related to: the possibility that the transaction between Aimbridge and ONE and/or the termination of the Development Agreement may not be completed at the time or on the terms currently expected, or at all; AHIP is not a party to the transaction between Aimbridge and ONE, and thus has no ability to control whether or not this transaction completes or not; AHIP may not realize any or all of the expected benefits of the transaction between Aimbridge and ONE or the expected benefits of the termination of the Development Agreement, in each case as contemplated in this news release, or as otherwise contemplated by AHIP management; general economic conditions; future growth potential; AHIP’s unit prices; liquidity; tax risk; tax laws currently in effect remaining unchanged; ability to access capital markets; competition for real property investments; environmental matters; the value of the U.S. dollar; and changes in legislation or regulations. Management believes that the expectations reflected in the forward-looking information contained in this news release are based upon reasonable assumptions and information currently available; however, management can give no assurance that actual results will be consistent with the forward-looking information. Additional information about risks and uncertainties is contained in AHIP’s MD&A dated March 6, 2018 and annual information form for the year ended December 31, 2017, copies of which are available on SEDAR at www.sedar.com.

The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management’s current beliefs and is based on information currently available to AHIP. The forward-looking information is made as of the date of this news release and AHIP assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.

For further information, please contact:
 
Ian McAuley
President
Phone: (604) 630-4772
Email: imcauley@ahipreit.com

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AMERICAN HOTEL INCOME PROPERTIES REIT LP ANNOUNCES EXPANDED ASSET MANAGEMENT DEPARTMENT

Vancouver, BC (March 23, 2018)

GENERAL

American Hotel Income Properties REIT LP (“AHIP”) (TSX: HOT.UN, HOT.U, and HOT.DB.U) is pleased to announce that it has expanded its in-house Asset Management department, which is responsible for overseeing and enhancing the performance of its hotel portfolio to drive stronger returns for AHIP’s unitholders.

“Over the past two years, not only has AHIP’s Premium Branded hotel portfolio grown substantially through the strategic acquisition of 32 high-quality premium branded hotels (a 91 % increase), we have also upgraded our Economy Lodging portfolio with the Wyndham branding initiative. While our external hotel manager continues to work diligently to drive strong performance across our 115 hotels, we believe our portfolio is at the scale and complexity to warrant additional oversight and expert support to deliver peak performance. Our newly expanded Asset Management team will work alongside senior members of the external hotel manager to monitor revenue management, review operational efficiencies, establish cost containment strategies and manage capital investment programs to drive stronger returns,” said Ian McAuley, President, AHIP.

AHIP’s Asset Management department consists of hotel industry experts dedicated to portfolio management of its 115 hotels, which involves the development of long-term strategic plans for each property, including the oversight of the current, pre-funded, US$20 million capital investment program for 2018, designed to deliver top revenue performance and industry best practices. Working closely with the hotel manager, AHIP’s Asset Management team also monitors the supply and demand dynamics of specific hotel markets to ensure that each of AHIP’s hotels is constantly well positioned to take advantage of revenue generating opportunities and maximize profitability. As well, the Asset Management team will be in close contact with AHIP’s leading hotel brand partners, to ensure its hotels are best-in-class, and up-to-date on all brand standards and guest programs. Pankaj Maharjan, Managing Director, Asset Management is overseeing the Asset Management program, with strong support from Martin Pinsker, Senior Director, Investments – who has recently redirected his focus from acquisitions to specifically examine and implement strategies to drive improved performance from AHIP’s Economy Lodging hotel portfolio. They are joined by two other experienced industry professionals, and together, have already set performance benchmarks for each property and are working with AHIP’s external hotel manager to achieve these targets.

U.S. hotel real estate investment trusts (“REITs”), such as AHIP’s wholly-owned subsidiary, American Hotel Income Properties REIT Inc., are required by U.S. tax laws to have an external hotel manager to manage hotel operations on behalf of hotel REITs. AHIP’s Asset Management department works with its external hotel manager to drive hotel operating results and create value for its unitholders.

ABOUT AMERICAN HOTEL INCOME PROPERTIES REIT LP

American Hotel Income Properties REIT LP (TSX: HOT.UN; HOT.U and HOT.DB.U), or AHIP, is a limited partnership formed to invest in hotel real estate properties located substantially in the United States. AHIP currently has 115 hotels, and is actively engaged in growing its portfolio of premium branded, select-service hotels in larger secondary markets that have diverse and stable demand. AHIP hotels operate under brands affiliated with Marriott, Hilton, IHG, Wyndham and Choice Hotels through license agreements. The company’s long-term objectives are to build on its proven track record of successful investment, deliver reliable and consistent U.S. dollar denominated distributions to unitholders, and generate value through the continued growth of its diversified hotel portfolio. More information is available at www.ahipreit.com.

FORWARD-LOOKING INFORMATION

Certain statements in this news release may constitute “forward-looking” information that involves known and unknown risks, uncertainties and other factors, and it may cause actual results, performance or achievements or industry results, to be materially different from any future results, performance or achievements or industry results expressed or implied by such forward-looking information. Forward-looking information generally can be identified by the use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “feel”, “intend”, “may”, “plan”, “predict”, “project”, “subject to”, “will”, “would”, and similar terms and phrases, including references to assumptions. Some of the specific forward-looking statements in this news release include, but are not limited to, statements with respect to: AHIP’s Asset Management team working closely with the external hotel manager to monitor revenue management, review operational efficiencies and manage capital investment programs; and AHIP’s long-term objectives.

Forward-looking information is based on a number of key expectations and assumptions made by AHIP, including, without limitation: a reasonably stable North American economy and stock market; the continued strength of the U.S. lodging industry; capital markets providing AHIP with readily available access to equity and/or debt financing on terms acceptable to AHIP; the accuracy of third party reports with respect to lodging industry data; and the value of the U.S. dollar. Although the forward-looking information contained in this news release is based on what AHIP’s management believes to be reasonable assumptions, AHIP cannot assure investors that actual results will be consistent with such information.

Forward-looking statements are provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future performance or results. Those risks and uncertainties include, among other things, risks related to: general economic conditions; future growth potential; AHIP’s unit prices; liquidity; tax risk; tax laws currently in effect remaining unchanged; ability to access capital markets; competition for real property investments; environmental matters; the value of the U.S. dollar; and changes in legislation or regulations. Management believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions and information currently available; however, management can give no assurance that actual results will be consistent with these forward-looking statements. Additional information about risks and uncertainties is contained in AHIP’s MD&A dated March 6, 2018 and annual information form for the year ended December 31, 2016, copies of which are available on SEDAR at www.sedar.com.

The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management’s current beliefs and is based on information currently available to AHIP. The forward-looking information is made as of the date of this news release and AHIP assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.

For further information, please contact:

Jamie Kokoska
Director, Investor Relations
Phone: (604)670-6242
Email: jkokoska@ahipreit.com

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AMERICAN HOTEL INCOME PROPERTIES REIT LP ANNOUNCES REFINANCING OF CERTAIN ECONOMY LODGING PROPERTIES

Vancouver, BC (March 21, 2018)

GENERAL

American Hotel Income Properties REIT LP (“AHIP”) (TSX: HOT.UN, HOT.U and HOT.DB.U) is pleased to announce that it has consolidated the debt and business structure of its Economy Lodging hotel portfolio to provide it with improved operating and tax efficiencies. AHIP has refinanced its Railway Portfolio Term Loan of approximately US$19.0 million and obtained a US$4.0 million mortgage for two of its recently acquired hotel properties –  the Days Inn hotel in Fargo, ND and the Baymont Inn & Suites in Whitefish, MT, through its existing syndicate of U.S. chartered banks. AHIP has also increased its secured revolving line of credit to US$13.5 million to provide increased flexibility to pursue opportunistic, accretive tuck-in acquisitions, and for upcoming renovations as part of the Wyndham rebranding.

Key financing highlights:

  • The new Railway Portfolio Term Loan has a seven-year term with an interest rate of LIBOR + 280 basis points and matures in March 2025.
  • The Fargo and Whitefish mortgage has a five-year term with an interest rate of LIBOR + 280 basis points and matures in March 2023.
  • The revolving line of credit was increased from US$10.0 million to US$13.5 million with an interest rate of LIBOR + 280 basis points and matures in March 2019.
  • Economy Lodging hotel loans now total approximately US$110 million in aggregate with this syndicate of lenders. The consolidation of loans through this syndicate will simplify operating processes for AHIP and generate annual income tax savings.

“The refinancing of loans for our Economy Lodging hotel portfolio highlights the confidence of AHIP’s lenders in our balance sheet and the growth opportunities within our Economy Lodging business,” said Rob O’Neill, CEO, AHIP.  “While we expect 2018 will be a year of continued hotel integration and optimization of the 23 premium-branded hotels we acquired in 2017, we continue to find opportunities to add complementary hotel properties to our portfolio.  Our increased line of credit will provide us with more flexibility to pursue opportunistic and accretive tuck-in acquisitions, should the right opportunities arise.”

“AHIP remains focused on executing its strategy of providing investors with a reliable and stable U.S. dollar denominated distribution,” said Ian McAuley, President, AHIP.  “The addition of these loans for our Economy Lodging portfolio complements the long-term, fixed-rate debt for our Premium Branded hotel portfolio – which has an average interest rate of 4.6% and comprises 85% of our total debt.  In total, 97% of our debt is fixed-rate with an average term remaining of more than seven years and no significant loan maturities until June 2022, positioning AHIP well for any near-term interest rate changes.”

ABOUT AMERICAN HOTEL INCOME PROPERTIES REIT LP

American Hotel Income Properties REIT LP (TSX: HOT.UN; HOT.U and HOT.DB.U), or AHIP, is a limited partnership formed to invest in hotel real estate properties located substantially in the United States. AHIP currently has 115 hotels, and is actively engaged in growing its portfolio of premium branded, select-service hotels in larger secondary markets that have diverse and stable demand. AHIP hotels operate under brands affiliated with Marriott, Hilton, IHG, Wyndham and Choice Hotels through license agreements.  The company’s long-term objectives are to build on its proven track record of successful investment, deliver reliable and consistent U.S. dollar denominated distributions to unitholders, and generate value through the continued growth of its diversified hotel portfolio.  More information is available at www.ahipreit.com.

FORWARD-LOOKING INFORMATION

Certain statements in this news release may constitute “forward-looking” information that involves known and unknown risks, uncertainties and other factors, and it may cause actual results, performance or achievements or industry results, to be materially different from any future results, performance or achievements or industry results expressed or implied by such forward-looking information. Forward-looking information generally can be identified by the use of terms and phrases such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “feel”, “intend”, “may”, “plan”, “predict”, “project”, “subject to”, “will”, “would”, and similar terms and phrases, including references to assumptions.  Some of the specific forward-looking statements in this news release include, but are not limited to, statements with respect to: enhancing AHIP’s liquidity and credit-worthiness; the ability to complete accretive acquisitions; the realization of operating and tax efficiencies; upcoming renovations as part of the Wyndham rebranding; and AHIP’s long-term objectives.

Forward-looking information is based on a number of key expectations and assumptions made by AHIP, including, without limitation: a reasonably stable North American economy and stock market; the continued strength of the U.S. lodging industry; capital markets providing AHIP with readily available access to equity and/or debt financing on terms acceptable to AHIP; the accuracy of third party reports with respect to lodging industry data; and the value of the U.S. dollar. Although the forward-looking information contained in this news release is based on what AHIP’s management believes to be reasonable assumptions, AHIP cannot assure investors that actual results will be consistent with such information.

Forward-looking statements are provided for the purpose of presenting information about management’s current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. Forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future performance or results. Those risks and uncertainties include, among other things, risks related to: general economic conditions; future growth potential; AHIP’s unit prices; liquidity; tax risk; tax laws currently in effect remaining unchanged; ability to access capital markets; competition for real property investments; environmental matters; the value of the U.S. dollar; and changes in legislation or regulations. Management believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions and information currently available; however, management can give no assurance that actual results will be consistent with these forward-looking statements. Additional information about risks and uncertainties is contained in AHIP’s MD&A dated March 6, 2018 and annual information form for the year ended December 31, 2016, copies of which are available on SEDAR at www.sedar.com.

The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management’s current beliefs and is based on information currently available to AHIP. The forward-looking information is made as of the date of this news release and AHIP assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law.

For further information, please contact:

Jamie Kokoska
Director, Investor Relations
Phone: (604) 670-6242
Email: jkokoska@ahipreit.com

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Notice of Annual Meeting

Vancouver, B.C. (May 9, 2018 9:00 am)

ANNUAL MEETING

Event Location:
Fairmont Pacific Rim Hotel
1038 Canada Place, Vancouver, BC

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Audio Replay - Fourth Quarter and 2017 Results Conference Call

Vancouver, BC (March 8, 2018 4:00 pm)

EARNINGS CALL

A replay of AHIP’s Fourth Quarter 2017 Results conference call can be found here.

 

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AMERICAN HOTEL INCOME PROPERTIES REIT LP 2017 FINANCIAL RESULTS CONFERENCE CALL

Vancouver, B.C. (March 8, 2018 1:00 pm)

FINANCIAL RESULTS

American Hotel Income Properties REIT LP will host its Q4 and 2017 Analyst Call on Thursday, March 8, 2018 at 4:00 p.m. Eastern / 1:00 p.m. Pacific.

To participate in the conference call, please use the following dial-in information:
• 1-877-291-4570 (Toll-free North America)
• 1-647-788-4919 (International or local Toronto)

Please ask to participate in American Hotel Income Properties’ Q4 and 2017 Analyst Call.
To avoid any delays in joining the call, please dial in at least five minutes prior to the call start time. If prompted, please provide conference passcode 2399487.

A simultaneous audio webcast of the conference call will also be available.
Register for the webcast via http://event.on24.com/wcc/r/1613629-1/2939D9C4C4410CA2E7EC4C5A87D204B7

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AMERICAN HOTEL INCOME PROPERTIES REIT LP TO REPORT FOURTH QUARTER AND YEAR-END 2017 FINANCIAL RESULTS

Vancouver, B.C. (March 7, 2018 12:00 am)

FINANCIAL RESULTS

American Hotel Income Properties REIT LP (“AHIP”) (TSX: HOT.UN; TSX: HOT.U; TSX: HOT.DB.U) intends to release its fourth quarter and year-end 2017 financial results after market close on Wednesday, March 7, 2018.

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