American Hotel Income Properties to Acquire 70-Room Rail Crew Lodging Property in Fort Scott, Kansas

American Hotel Income Properties REIT LP | October 29, 2015

VANCOUVER, Oct. 29, 2015 - American Hotel Income Properties REIT LP ("AHIP") (TSX: HOT.UN; OTCQX: AHOTF) announced today that it has agreed to acquire through its subsidiaries a 70-room hotel located in Fort Scott, Kansas (the "Fort Scott Property") secured by a new multiyear rail crew lodging contract. The Fort Scott Property is being acquired for an aggregate purchase price of US$3,315,000 including planned capital expenditures and excluding closing and post-acquisition adjustments. ACQUISITION HIGHLIGHTS The Fort Scott Property is being acquired for approximately US$47,400 per guest room, which is below manageme...