VANCOUVER, Sept. 17, 2015 /CNW/ – American Hotel Income Properties REIT LP (“AHIP“) (TSX: HOT.UN; OTCQX: AHOTF) announced today the resignation of Robert Pratt as a director of AHIP’s general partner and as a member of its Nominating & Governance and Compensation Committees.
Mr. Pratt has resigned to focus on his new appointment as President of ONE Hospitality Group, a wholly owned subsidiary of AHIP’s exclusive hotel manager Tower Rock Hotels & Resorts Inc. On behalf of the Board, AHIP’s Chairperson, Peter Armstrong, said: “Robert Pratt has been a key member of the Board since inception and has been especially instrumental in assisting with governance during a rapid period of growth for AHIP. We thank him for his efforts and wish him every success in his new role.”
The Nominating & Governance Committee has commenced a process to select a new replacement director.
About American Hotel Income Properties REIT LP
AHIP is a limited partnership formed under the Limited Partnerships Act (Ontario) to invest in hotel real estate properties located substantially in the United States and is engaged primarily in the railroad employee accommodation, transportation-oriented and select-service lodging sectors. AHIP’s properties are mostly located in secondary and tertiary markets in the United States in close proximity to railroads, airports, highway interchanges and other demand generators. AHIP currently owns 78 hotels including 43 hotels serving the U.S. rail industry pursuant to long-term railway contracts and 35 hotels affiliated with leading national and international hotel brands. AHIP’s long-term objectives are to: (i) generate stable and growing cash distributions from hotel properties substantially in the U.S.; (ii) enhance the value of its assets and maximize the long-term value of the hotel properties through active management; and (iii) expand its asset base and increase its AFFO per unit through an accretive acquisition program, participation in strategic development opportunities and improvements to its properties through targeted value-added capital expenditure programs.
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SOURCE American Hotel Income Properties REIT LP