american hotel income properties
American Hotel Income Properties REIT LP Completes the Sale of the Wingate Tampa Hotel
American Hotel Income Properties REIT LP | September 1, 2020
VANCOUVER, BC, Sept. 1, 2020 - American Hotel Income Properties REIT LP ("AHIP" or the "Company") (TSX: HOT.UN, HOT.U, and HOT.DB.U) announced today that it has closed the previously announced sale of its 86-room Wingate Tampa property for gross proceeds of US$7.5 million. AHIP has provided US$2.65 million in financing for the buyer, secured by a mortgage, which is repayable at the end of three years along with accrued interest. Net proceeds of the sale will be used to repay amounts outstanding under the Company's revolving credit facility. "We're pleased to complete the sale of this non-core asset, which was nearing significant brand-...
American Hotel Income Properties to Acquire 12 Premium Branded Hotels for $191.0 Million
American Hotel Income Properties REIT LP | December 2, 2019
AHIP also confirms completion of the previously announced profitable sale of the Economy Lodging portfolio for gross proceeds of $215.5 million Acquisition of the 12 Premium Branded hotels at an approximate 8% capitalization rate The hotels, all built in the last five years, are being acquired below replacement cost Transaction follows completion of the sale of the Economy Lodging portfolio; AHIP is now exclusively a premium branded hotel REIT The acquisition will be financed using proceeds from the sale of the Economy Lodging portfolio and a new interest-only fixed-rate term loan (All numbers are in U.S. dollars unless ot...
American Hotel Income Properties REIT Appoints John O’Neill as New CEO
American Hotel Income Properties REIT LP | September 12, 2018
VANCOUVER, Sept. 12, 2018 - American Hotel Income Properties REIT LP ("AHIP") (TSX: HOT.UN, HOT.U and HOT.DB.U) is pleased to announce that John O'Neill has been appointed as Chief Executive Officer of AHIP, effective October 1, 2018. Mr. O'Neill is an accomplished hospitality professional with over 30 years of experience in hotel investment, development and management. John oversaw the management of AHIP's hotel operations as the portfolio grew from 32 to 115 hotels over the past six years, while serving as President of ONE Lodging Management Inc. until Aimbridge Hospitality assumed AHIP's hotel management dut...
American Hotel Income Properties Enters Agreement for Aimbridge Hospitality to Assume Hotel Management Responsibilities
American Hotel Income Properties REIT LP | April 2, 2018
VANCOUVER, April 2, 2018 - 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 te...
American Hotel Income Properties REIT LP Completes Rebranding of 46 Rail Hotels to Various Wyndham Brands
American Hotel Income Properties REIT LP | December 20, 2017
American Hotel Income Properties REIT LP ("AHIP") (TSX: HOT.UN, HOT.U, and HOT.DB.U) is pleased to confirm that its previously announced agreement with Wyndham Hotel Group to convert 46 hotels – including all of the hotels in its Rail Hotel portfolio – to Wyndham hotel brands, has now been completed. In total, 28 hotels have converted to Travelodge® hotels, 15 hotels have become Baymont Inn & Suites®, two properties are now Super 8® hotels, and one hotel will remain a Days Inn®. Each of these hotels can now be booked through Wyndham's worldwide reservation network, and all converted hotels now provide the...
Wyndham Hotel Group Inks Deal with American Hotel Income Properties for 46 Hotels Across U.S.
American Hotel Investment Properties REIT LP | November 1, 2017
PHOENIX, Nov. 1, 2017 -- Wyndham Hotel Group – the hospitality giant with an unparalleled portfolio of more than 8,300 hotels globally – today announced an agreement with American Hotel Income Properties REIT Inc. (AHIP) to convert 44 existing hotels across the U.S. to Wyndham's Baymont Inn & Suites ®, Travelodge ® and Super 8 ® brands. Furthermore, AHIP has also newly acquired two additional hotels joining the Wyndham portfolio. All 46 hotels will become part of Wyndham's powerhouse global distribution network and award-winning loyalty program by the end of the year. The agreement boosts the company&...
MCR Competes Sale of 18 Marriott and Hilton Hotels for $407.4 Million to American Hotel Income Properties REIT
MCR | June 29, 2017
NEW YORK--June 29, 2017--MCR, the seventh largest hotel owner-operator in the United States has sold 18 Marriott and Hilton assets to American Hotel Income Properties REIT LP ("AHIP") for $407.4 million. The assets sold are located in Maryland, New Jersey, New York, Connecticut and Pennsylvania. The transaction closed on June 22, 2017. The average capitalization rate of the portfolio disposition was approximately 7.9% on a trailing twelve months net operating income basis, or roughly $186,000 per room. The sale encompassed 2,187 rooms. "The sale of this portfolio is a reflection of MCR's investment thesis: to purchase premium branded se...
American Hotel Income Properties REIT LP Acquires Portfolio of Three Embassy Suites by Hilton Hotels in Ohio for $124 Million
American Hotel Income Properties REIT LP | December 19, 2016
VANCOUVER, BC--(December 19, 2016) - American Hotel Income Properties REIT LP ("AHIP") (TSX: HOT.UN) (OTCQX: AHOTF) NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES American Hotel Income Properties REIT LP ("AHIP") (TSX: HOT.UN) (OTCQX: AHOTF) announced today that it has agreed to acquire through its subsidiaries the previously announced strategic portfolio of three Embassy Suites by Hilton branded hotels totaling 782 guestrooms located in proximity to Columbus, Cleveland and Cincinnati, Ohio (the "Midwestern 3 Embassy Suites Portfolio") for approximately US$124.0 mil...
