VANCOUVER, Jan. 15, 2019 /PRNewswire/ - American Hotel
Income Properties REIT LP ("AHIP", "the Company") (TSX: HOT.UN,
HOT.U, and HOT.DB.U) announced today a cash distribution of
US$0.054 per limited partnership unit
("Unit") for the period of January 1,
2019 to January 31, 2019,
which is equivalent to US$0.648 per
Unit on an annualized basis. The distribution will be paid on
February 15, 2019 to unitholders of
record at the close of business on January
31, 2019.
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.
The Company is also pleased to confirm that for 2019, based on
AHIP's estimates of taxable income, 40% of AHIP's distributions are
expected to continue to be considered return of capital and 60% are
expected to continue to be considered taxable. Unitholders
and potential investors should consult their own tax advisors for
advice with respect to the tax consequences of an investment in
Units based on their particular circumstances.
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 has 112
hotels, and is engaged in growing its portfolio of premium branded,
select-service hotels in larger secondary markets that have diverse
and stable demand. AHIP hotels operate under brands affiliated with
Marriott, Hilton, IHG, Wyndham and Choice Hotels through license
agreements. The company'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, which 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 expected record date
for, and timing of the payment of, the January 2019 distribution; AHIP's expectation
that for 2019 40% of AHIP's distributions are expected to continue
to be considered return of capital and 60% are expected to continue
to be considered taxable; 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: AHIP will continue to pay monthly distributions on its
Units in 2019; AHIP's taxable income will be consistent with
managements estimates; there will be no adverse changes to taxation
laws applicable to AHIP's distributions; 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; 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 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 the possibility that:
distributions on AHIP's Units are not guaranteed and may be reduced
or suspended at any time; AHIP's taxable income may not be
consistent with management's estimates and expectations; applicable
taxation laws may change, which may impact the taxation of AHIP's
distributions in the hands of its unitholders; the summary of the
tax treatment of AHIP's distributions contained in this news
release is not exhaustive of all possible income tax considerations
applicable to an investment in AHIP's Units, including the taxation
of AHIP's distributions, and the income and other tax consequences
of acquiring, holding or disposing of Units and receiving
distributions will vary depending on the particular circumstances
applicable to each investor and as such the tax summary contained
in this news release may not accurately reflect the tax treatment
of AHIP's distributions for any particular investor; and, AHIP may
not realize any of its long term objectives contemplated in this
news release or otherwise. 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 November 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