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American Hotel Income Properties REIT LP Announces Settlement with Its Hotel Management Company
VANCOUVER, British Columbia, April 20, 2026 (GLOBE NEWSWIRE) -- American Hotel Income Properties ...
About this update from American Hotel Income Properties Reit Lp
[{"type":"text","content":"American Hotel Income Properties REIT LP Announces Settlement with Its Hotel Management Company\nVANCOUVER, British Columbia, April 20, 2026 (GLOBE NEWSWIRE) -- American Hotel Income Properties REIT LP (“AHIP”, or the “Company”) (TSX: HOT.UN, TSX: HOT.U, TSX: HOT.DB. V), today announced it has entered into a settlement agreement (the “Settlement Agreement”) with ONE Lodging Holdings LLC, a subsidiary of Aimbridge Hospitality (the “Master Hotel Manager”), to resolve the previously disclosed dispute between the parties and certain of their respective subsidiaries. The Settlement Agreement achieves AHIP’s objectives of financial relief and a specific end date for the management of AHIP’s portfolio by the Master Hotel Manager. The Settlement Agreement provides for a reduction in currently deferred termination fees, a reduction in future termination fees and waiver of all deferred management fees. Under the Settlement Agreement, AHIP will make a one-time payment of $2.3 million to the Master Hotel Manager to settle a current liability of $6.2 million in respect of currently deferred termination fees. The Master Hotel Management Agreement between AHIP and the Master Hotel Manager (the “Master Hotel Management Agreement”) and all individual hotel management agreements between their respective subsidiaries that govern the management of AHIP’s portfolio of properties are to be terminated on January 31, 2027, subject to a three-month extension right which may be exercised by AHIP in advance. Until such date, AHIP’s properties will remain under management by the Master Hotel Manager and its subsidiaries pursuant to the Master Hotel Management Agreement and the individual hotel management agreements under their respective current terms, except as modified by the Settlement Agreement. For further information, see a copy of the Settlement Agreement which will be filed under AHIP’s profile on SEDAR+ at www.sedarplus.com in due course. For additional information, please contact: Investor Relations [email protected] FORWARD-LOOKING INFORMATION This news release contains forward-looking information within the meaning of applicable securities laws. Forward-looking information generally can be identified by words such as “anticipate&#x...