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American Hotel Income Properties REIT LP Announces Expanded Asset Management Department
American Hotel Income Properties REIT LP Announces Expanded Asset Management Department ...
About this update from American Hotel Income Properties Reit Lp
[{"type":"text","content":"\n\n\n\nAmerican Hotel Income Properties REIT LP Announces Expanded Asset Management Department\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, March 23, 2018\n\n\n\nVANCOUVER, March 23, 2018 /CNW/ - American Hotel Income Properties REIT LP (\"AHIP\") (TSX: HOT.UN, HOT.U, and HOT.DB.U) is pleased to announce that it has expanded its in-house Asset Management department, which is responsible for overseeing and enhancing the performance of its hotel portfolio to drive stronger returns for AHIP's unitholders.  \n\n\"Over the past two years, not only has AHIP's Premium Branded hotel portfolio grown substantially through the strategic acquisition of 32 high-quality premium branded hotels (a 91 % increase), we have also upgraded our Economy Lodging portfolio with the Wyndham branding initiative.  While our external hotel manager continues to work diligently to drive strong performance across our 115 hotels, we believe our portfolio is at the scale and complexity to warrant additional oversight and expert support to deliver peak performance.  Our newly expanded Asset Management team will work alongside senior members of the external hotel manager to monitor revenue management, review operational efficiencies, establish cost containment strategies and manage capital investment programs to drive stronger returns,\" said Ian McAuley, President, AHIP.\n\nAHIP's Asset Management department consists of hotel industry experts dedicated to portfolio management of its 115 hotels, which involves the development of long-term strategic plans for each property, including the oversight of the current, pre-funded, US$20 million capital investment program for 2018, designed to deliver top revenue performance and industry best practices.   Working closely with the hotel manager, AHIP's Asset Management team also monitors the supply and demand dynamics of specific hotel markets to ensure that each of AHIP's hotels is constantly well positioned to take advantage of revenue generating opportunities and maximize profitability.  As well, th...