VANCOUVER, April 26, 2018 /CNW/ - American Hotel Income
Properties REIT LP ("AHIP") (TSX: HOT.UN, HOT.U and HOT.DB.U) is pleased to announce that the previously announced transfer of
hotel management responsibilities to Aimbridge Hospitality ("Aimbridge") was completed on April 25,
2018. Aimbridge, a leading U.S.-based hotel management company, is now responsible for operating all 115 of AHIP's hotels
and has been working closely with ONE Lodging Management ("ONE"), AHIP's previous hotel manager, to ensure a seamless and well
executed transition.
"We are very excited to begin working with Aimbridge as our new exclusive hotel manager, and to start realizing the benefits
of their world class reporting systems, scale and purchasing power to improve margins and enhance unitholder value," said
Ian McAuley, President, AHIP. "I would like to thank ONE's executives for helping us grow
and upgrade our hotel portfolio over the past five years. The entire ONE team was instrumental in integrating 115
properties onto our platform since our IPO, and we're very pleased to continue working with many of these highly experienced
professionals and hotel associates through our new relationship with Aimbridge."
"We look forward to developing our relationship with AHIP and implementing strategies to optimize the guest experience at
their hotels, positioning their properties for continued success, and driving higher margins," said Dave
Johnson, CEO and Chairman, Aimbridge Hospitality. "AHIP's hotel portfolio is highly complementary to the other
properties we already manage, with brand franchises and hotel standards well aligned with our expertise and established brand
relationships. AHIP is now one of our largest clients, and we fully appreciate the importance of building a trusted and
collaborative relationship to drive our mutual success."
John O'Neill, CEO, ONE added: "It has been a pleasure working with AHIP in support of their
growth and strategic shift to higher-quality hotels. The transition of hotel management responsibilities to Aimbridge has
been flawless and well-received by all our hotel staff. We remain committed to supporting the ongoing integration of ONE
team members and AHIP properties onto the Aimbridge platform over the next several months."
Aimbridge's assumption of ONE's management responsibilities for AHIP's hotels was first announced on April 2, 2018. Aimbridge is one of the largest independent hotel investment and management firms in the
U.S. Based in Dallas, Texas and with offices in Chicago,
Illinois and Puerto Rico, they now manage over 800 upscale, branded and independent
hotels with more than 100,000 rooms under management across the U.S. and the Caribbean.
ABOUT AMERICAN HOTEL INCOME PROPERTIES REIT LP
American Hotel Income Properties REIT LP (TSX: HOT.UN; HOT.U and HOT.DB.U), or AHIP, is a limited partnership formed to invest
in hotel real estate properties located substantially in the United States. AHIP currently owns
115 hotels, and is actively engaged in growing its portfolio of premium branded, select-service hotels in larger secondary U.S.
markets that have diverse and stable demand. AHIP hotels operate under brands affiliated with Marriott, Hilton, IHG, Wyndham and
Choice Hotels through license agreements. AHIP's long-term objectives are to build on its proven track record of successful
investment, deliver reliable and consistent 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. 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 information referred to in this news release includes, but
is not limited to, statements with respect to: the belief that AHIP will realize benefits from Aimbridge's world class systems,
scale and purchasing power to improve margins and enhance unitholder value; Aimbridge's intention to implement strategies to
optimize the guest experience at AHIP's hotels, position AHIP's hotels for continued success and to drive higher margins; ONE
continuing to support the ongoing integration of ONE team members and AHIP properties onto the Aimbridge platform over the next
several months; and AHIP's long-term objectives.
Forward-looking information is based on a number of key expectations and assumptions made by AHIP, including, without
limitation: that AHIP will realize the expected benefits of Aimbridge assuming management responsibilities for AHIP's hotels as
contemplated in this news release; the ongoing transition of management responsibilities for AHIP's hotels from ONE to Aimbridge
will not have any negative impact on the operation or performance of AHIP's hotels; a reasonably stable North American economy
and stock market; the continued strength of the U.S. lodging industry; capital markets will provide AHIP with readily available
access to equity and/or debt financing on terms acceptable to AHIP; the accuracy of third party reports with respect to lodging
industry data; and the value of the U.S. dollar. Although the forward-looking information contained in this news release is based
on what AHIP's management believes to be reasonable assumptions, AHIP cannot assure investors that actual results will be
consistent with such information.
Forward-looking information is provided for the purpose of presenting information about management's current expectations and
plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes.
Forward-looking information involves significant risks and uncertainties and should not be read as guarantees of future
performance or results. Those risks and uncertainties include, among other things, risks related to: AHIP may not realize any or
all of the expected benefits of Aimbridge assuming management responsibilities for AHIP's hotels, as contemplated in this news
release, or as otherwise contemplated by AHIP management; the ongoing transition of management responsibilities for AHIP's hotels
from ONE to Aimbridge may have a negative impact on the operation and performance of AHIP's hotels; general economic conditions;
future growth potential; AHIP's unit prices; liquidity; tax risk; tax laws currently in effect remaining unchanged; ability to
access capital markets; competition for real property investments; environmental matters; the value of the U.S. dollar; and
changes in legislation or regulations. Management believes that the expectations reflected in the forward-looking information
contained in this news release 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. Additional information about risks
and uncertainties is contained in AHIP's MD&A dated March 6, 2018 and annual information form
for the year ended December 31, 2017, 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.
Forward-looking information reflects management's current beliefs and is based on information currently available to AHIP. 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
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