VANCOUVER, April 29, 2019 /CNW/ - American Hotel Income Properties REIT LP ("AHIP" or the "company") (TSX: HOT.UN,TSX: HOT.U,TSX: HOT.DB.U) is pleased to announce Mr. Bruce Pittet has been appointed Senior Vice President, Asset Management & Chief Operating Officer, effective May 1, 2019. In this role, Mr. Pittet will be a key executive leader of the company and its U.S. subsidiaries, and will be responsible for AHIP's hotel profitability through working with its independent hotel manager; leading AHIP's hotel renovations program – including the allocation of reserve capital towards hotel projects; and brand relations with AHIP's hotel brand partners: Hilton, Marriott, IHG, Choice and Wyndham Hotels. Bruce and AHIP's Asset Management team will also play an instrumental role in assessing hotel and market opportunities to ensure the company's properties are located in desirable markets and that AHIP has the right hotel offering to maximize revenue opportunities.
"We are very excited to welcome Bruce to our team," said John O'Neill, CEO. "The breadth of his hotel management expertise and his strong familiarity with our hotel portfolio will be invaluable as we continue driving organic growth through our 112 properties – including those that have recently received significant renovations. Bruce's role will be focused on driving higher margins and income from our hotels through our third-party manager, overseeing AHIP's hotel renovation strategy, and working closely with our brand partners to further align our interests."
Mr. Pittet is a seasoned hospitality executive, with more than 30 years of hotel management, planning and operating experience across North America, with the last 20 years spent in the U.S. Bruce has hotel experience in, and has completed extensive market analysis of, over 100 U.S. markets, and has been a leader of multiple major property launches, turnarounds and re-positioning initiatives. For the past six years, Mr. Pittet was Senior Vice President at ONE Lodging, which is now part of Aimbridge Hospitality – North America's largest hotel management company and AHIP's independent hotel manager. As a result, Bruce has already gained intimate knowledge of AHIP's hotel portfolio, its markets and its brand relationships. Previously, Mr. Pittet completed hotel development and operations consulting work for Starwood Development, and held various roles at Intrawest, including General Manager/Vice President for Snowshoe Mountain and later, Regional Vice President of Lodging – where he oversaw the operations and development of 12 Intrawest resort lodging business across North America and Europe.
ABOUT AMERICAN HOTEL INCOME PROPERTIES REIT LP
American Hotel Income Properties REIT LP (TSX: HOT.UN,TSX: HOT.U,TSX: HOT.DB.U), or AHIP, is a limited partnership formed to invest in hotel real estate properties located in the United States. AHIP currently has 112 hotels, and is 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.
SOURCE American Hotel Income Properties REIT LP
For further information: Jamie Kokoska, Director, Investor Relations, Phone: 604-670-6242, Email: [email protected]