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 Administration.
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.
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
Email: [email protected]