VANCOUVER, March 15, 2018 /CNW/ - 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 March 1, 2018 to March 31, 2018, which is equivalent to US$0.648 per Unit on an annualized basis. The distribution will be paid on April 13, 2018 to unitholders of record at the close of business on March 29, 2018.
"We have no intention of changing our distribution based on our ongoing performance and expectations, and understand the importance of this cash return to our valued income-biased investor base," said Rob O'Neill, CEO, AHIP. "Like all hotel companies, our business has seasonality and therefore should be reviewed and evaluated on an annual basis, which we believe is an important consideration for long-term oriented investors."
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.
FORWARD LOOKING STATEMENTS
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 having no intention of changing its distribution based on AHIP's ongoing performance and expectations; 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; seasonal fluctuations in AHIP's performance being consistent with management's expectations; AHIP being able to successfully integrate properties acquired from time to time into its portfolio; and, capital markets continuing to provide AHIP with readily available access to equity and/or debt financing on terms acceptable to AHIP. 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, 2017 and under "Risks and Uncertainties" in AHIP's Management's Discussion and Analysis dated March 6, 2018, both 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.
SOURCE American Hotel Income Properties REIT LP
For further information: Jamie Kokoska, Director, Investor Relations, Phone: 604-670-6242, Email: [email protected]