American Hotel Income Properties REIT LP Announces April 2023 U.S. Dollar Cash Distribution
14 Avril 2023 - 3:00PM
American Hotel Income Properties REIT LP (“AHIP”) (TSX: HOT.UN,
HOT.U, and HOT.DB.V) announces a U.S. dollar cash distribution of
$0.015 per limited partnership unit (“Unit”) for April 2023, which
is equivalent to U.S. dollar $0.18 per Unit on an annualized basis.
The distribution will be paid on May 15, 2023 to unitholders of
record at the close of business on April 28, 2023.
AHIP intends 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.
Additional information on AHIP’s distributions can
be found on our website at www.ahipreit.com.
ABOUT AMERICAN HOTEL INCOME PROPERTIES REIT
LP
American Hotel Income Properties REIT LP (TSX:
HOT.UN, TSX: HOT.U, TSX: HOT.DB.V), or AHIP, is a limited
partnership formed to invest in hotel real estate properties across
the United States. AHIP’s premium branded, select-service hotels
are located in secondary metropolitan markets that benefit from
diverse and typically stable demand. AHIP’s hotels operate under
brands affiliated with Marriott, Hilton, IHG and Choice Hotels
through license agreements. The Company’s long-term objectives are
to build on its proven track record of successful investment,
deliver monthly 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 INFORMATION
Certain statements in this news release may
constitute “forward-looking information” within the meaning of
applicable securities laws (also known as forward-looking
statements). Forward looking information 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: the payment of the current
distribution; AHIP’s intention to pay future cash distributions on
or about the 15th day of each month to the unitholders of
record on the last trading day of the preceding month; and AHIP’s
stated long-term objectives.
Forward-looking information is based on a number of
key expectations and assumptions made by AHIP, which management
believe to be reasonable, including, without limitation: AHIP’s
distribution policy will be sustainable; AHIP will not be prevented
from paying distributions under the terms of its senior credit
facility or investor rights agreement or any other agreement;
AHIP’s business will perform consistent with AHIP’s expectations;
and AHIP will achieve its long term objectives.
Forward-looking statements involve significant
risks and uncertainties and should not be read as guarantees of
future performance or results as actual results may differ
materially from those expressed or implied in such forward-looking
statements. Those risks and uncertainties include, among other
things, monthly cash distributions are not guaranteed and remain
subject to the approval of Board of Directors and may be reduced,
deferred or suspended at any time at the discretion of the Board;
the payment of distributions by AHIP to its unitholders is subject
to the satisfaction of certain financial covenants under AHIP’s
senior credit facility and AHIP’s investor rights agreement limits
the payment of distributions by AHIP in certain circumstances.
Additional information about risks and uncertainties is contained
in AHIP’s MD&A dated February 28, 2023 and annual information
form for the year ended December 31, 2022, copies 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.
Management believes that the expectations reflected in the
forward-looking information are based upon reasonable assumptions
and information currently available; however, management can give
no assurance that actual results will be consistent with the
forward-looking information contained herein. 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.
For further information, please
contact:
Travis BeattyChief
Financial Officerir@ahipreit.com
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