VANCOUVER, July 17, 2015 /CNW/ - American Hotel Income Properties REIT
LP ("AHIP") (TSX: HOT.UN; OTCQX: AHOTF) announced today the appointment of Mr.
Ian McAuley as Executive Vice President - Asset Management, effective
September 1, 2015.
Mr. McAuley was co-founder and President of Superior Lodging Corp. ("Superior") and over the past 15 years developed and operated over 150 select
service hotels across Canada. Under his leadership, Superior won many
awards including the Pinnacle Award and the Super 8 Worldwide
Presidents Award. He was also Canadian Hotel Entrepreneur of the Year,
past board member of the Canadian Hotel Association, a regular
contributor and speaker at various hotel industry conferences and has
been involved with the formation of a number of public companies in
Canada focused on the hospitality and seniors housing sectors. Mr.
McAuley has been active in the seniors housing industry as President &
CEO of Continuum Health Care Holdings Ltd. and facilitated the recent
sale of the company's assets to Health Care REIT, Inc. Mr. McAuley
holds an MBA, a BA and a specialized Diploma in Hospitality
Rob O'Neill CEO of AHIP commented "I am pleased that Ian will join the
AHIP executive team. I have known Ian for over 20 years and worked with
him in the late 1990's as a partner in a hospitality business. Ian is
energetic, extremely knowledgeable and well known in the hotel
industry. He will oversee and interface with AHIP's hotel manager,
Tower Rock Hotels & Resorts Inc., on property operating performance,
capital investments, risk management and brand relations for our
growing portfolio of 70 Oak Tree Inn and Branded hotels. As a key
member of AHIP's executive team, Ian will actively participate in
implementing AHIP's growth strategy, delivering industry leading
operating performance and creating value for unitholders."
Certain statements contained in this news release may constitute
forward-looking statements. Forward-looking statements are often, but
not always, identified by the use of words such as "anticipate",
"plan", "expect", "may", "will", "intend", "should", and similar
expressions. These statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or events
to differ materially from those anticipated in such forward-looking
statements. Forward-looking statements in this news release include,
without limitation, references to the effective date of Mr. McAuley's
appointment as Executive Vice President - Asset Management, and his
expected role and responsibilities of such appointment.
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, the ability to secure financing, capital
investment and execution and continued growth of the portfolio.
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 reflects current expectations of AHIP's
management regarding future events and operating performance as of the
date of this news release. Such information involves significant risks
and uncertainties, should not be read as guarantees of future
performance or results, and will not necessarily be accurate
indications of whether or not such results will be achieved. Actual
results could differ materially from those currently anticipated due to
a number of factors and risks. These include, without limitation, those
factors that can be found under "Risk Factors" in AHIP's Annual
Information Form dated March 27, 2015 and under "Risks and
Uncertainties" in AHIP's Management's Discussion and Analysis dated May
13, 2015, both of which are available on SEDAR at www.sedar.com.
The forward-looking statements contained herein represent AHIP's
expectations as of the date of this news release, and are subject to
change after this date. AHIP assumes no obligation to update or revise
any forward-looking statements whether as a result of new information,
future events or otherwise, except as required by applicable law.
ABOUT AMERICAN HOTEL INCOME PROPERTIES REIT LP
AHIP is a limited partnership formed under the Limited Partnerships Act (Ontario) to invest in hotel real estate properties located
substantially in the United States and is engaged primarily in the
railroad employee accommodation, transportation-oriented, and
select-service lodging sectors. AHIP's properties are mostly located in
secondary and tertiary markets in the United States in close proximity
to railroads, airports, highway interchanges, and other demand
generators. AHIP owns hotels serving the U.S. rail industry pursuant to
long-term railway contracts and hotels affiliated with leading national
and international hotel brands. AHIP's long-term objectives are to: (i)
generate stable and growing cash distributions from hotel properties
substantially in the U.S.; (ii) enhance the value of its assets and
maximize the long-term value of the hotel properties through active
management; and (iii) expand its asset base and increase its AFFO per
unit through an accretive acquisition program, participation in
strategic development opportunities and improvements to its properties
through targeted value-added capital expenditure programs.
Additional information relating to AHIP, including its other public
filings, is available on SEDAR at www.sedar.com and on AHIP's website at www.ahipreit.com.
THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS NEWS RELEASE.
SOURCE American Hotel Income Properties REIT LP
For further information:
Andrew Greig, Investor Relations
American Hotel Income Properties REIT LP
Suite 1660 - 401 West Georgia Street
Vancouver, B.C. V6B 5A1 Phone: 604-630-3134