(numbers are in U.S. dollars unless otherwise
indicated)
VANCOUVER, BC, July 14,
2022 /PRNewswire/ - 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
July 2022, which is equivalent to
U.S. dollar $0.18 per Unit on an
annualized basis. The distribution will be paid on August 15, 2022 to unitholders of record at the
close of business on July 29,
2022.
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.
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 March 8,
2022 and annual information form for the year ended
December 31, 2021, 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.
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SOURCE American Hotel Income Properties REIT LP