SOURCE: American Hotel Income Properties REIT LP

American Hotel Income Properties REIT LP

May 16, 2016 06:00 ET

American Hotel Income Properties REIT LP Announces Election of Directors and May 2016 Distribution

VANCOUVER, BC--(Marketwired - May 16, 2016) - American Hotel Income Properties REIT LP ("AHIP") (TSX: HOT.UN)(OTCQX: AHOTF) announced today that at its annual and special meeting of unitholders held on May 12, 2016 (the "Meeting"), all directors nominated as listed in the information circular dated April 8, 2016 were directed to be elected as directors of American Hotel Income Properties REIT (GP) Inc. for the ensuing year. As a ballot was not required, the number of votes disclosed in the below table reflects only the proxies received by management of AHIP in advance of the Meeting:

       
Director Votes For   Withhold Votes
Number Percentage   Number Percentage
Robert O'Neill 7,406,533 99.32%   50,590 0.68%
Stephen J. Evans 6,732,492 90.28%   724,631 9.72%
Richard Frank 7,421,465 99.52%   35,658 0.48%
Kevin Grayston 7,425,105 99.57%   32,018 0.43%
Tamara L. Lawson 7,431,923 99.66%   25,200 0.34%
W. Michael Murphy 6,694,283 89.77%   762,840 10.23%
Charles van der Lee 7,419,765 99.50%   37,358 0.50%
Elizabeth Walters 7,432,333 99.67%   24,790 0.33%
           

AHIP has also filed a report of voting results of all resolutions voted on at the Meeting on SEDAR at www.sedar.com.

MAY 2016 DISTRIBUTION

AHIP also announced today a cash distribution of US$0.054 per limited partnership unit ("Unit") for the period of May 1, 2016 to May 31, 2016, which is equivalent to US$0.648 per Unit on an annualized basis. The distribution will be paid on June 15, 2016 to unitholders of record at the close of business on May 31, 2016.

The policy of AHIP is 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

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 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.

ADDITIONAL INFORMATION

Additional information relating to AHIP, including its other public filings, is available on SEDAR at www.sedar.com and on AHIP's website at www.ahipreit.com.

THE TSX HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS NEWS RELEASE.

Contact Information

  • For further information, please contact:

    Andrew Greig
    Investor Relations
    American Hotel Income Properties REIT LP
    Suite 1660 - 401 West Georgia Street, Vancouver, BC V6B 5A1
    Phone: 604-630-3134
    Email: agreig@ahipreit.com