American Hotel Income Properties REIT 6 00 Convertible Unsecured Subordinated Debentures T.HOT.DB.V

2022 THIRD QUARTER HIGHLIGHTS

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• Revenue increased 11.3% to $76.2 million in the third quarter of 2022 compared to $68.4 million in the same period of 2021.
• A 33.0% increase in RevPAR (1) for the Embassy Suites sub-portfolio, compared to the same period in 2021.
• Diluted FFO per unit (1) was $0.13 for the third quarter of 2022, compared to normalized diluted FFO per unit (1) of $0.16 for the same period of 2021.
• ADR increased to $127, compared to $125 in the second quarter of 2022, and $118 in the same period of 2021.
• Occupancy (1)  was 72.1% in the current quarter, compared to 72.8% in the second quarter of 2022, and 68.8% in the same period of 2021.
• Debt to gross book value (1) decreased to 52.6% as at September 30, 2022, compared to 54.1% as at December 31, 2021.
• Weighted average interest rate for all term loans and credit facility was 4.34% as at September 30, 2022, a reduction of 18 bps compared to 4.52% as at December 31, 2021.
• Paid monthly distributions of $0.015 U.S. dollar per unit in each month since March 2022.
• Cash flow from operating activities was $14.2 million for the third quarter of 2022, an increase of $4.5 million compared to the same period of 2021.
• Net and comprehensive income was $0.3 million for the third quarter of 2022, a decrease of $15.4 million compared to the same period of 2021, primarily due to a non-recurring gain of $14.7 million in the third quarter of 2021.

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“This quarter we achieved our highest ADR and RevPAR since the onset of the pandemic. Quarterly RevPAR continued its upward trend, finishing at 97% of 2019 levels.” Mr. Korol added: “This was driven by sustained demand from our leisure guests as well as the gradual return of business and group travellers, as demonstrated by the tremendous recovery in our Embassy Suites portfolio during the quarter