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American Hotel Income Properties REIT LP Provides Operational Update
American Hotel Income Properties REIT LP Provides Operational Update Canada New...
About this update from American Hotel Income Properties Reit Lp
[{"type":"text","content":"\n \n \n \n American Hotel Income Properties REIT LP Provides Operational Update\n \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 Canada NewsWire\n \n \n VANCOUVER, BC, Oct. 13, 2020\n \n \n \n \n \n \n All 78 hotels remain open\n \n \n \n \n 57.8% occupancy recorded in\n \n September 2020\n \n \n \n \n \n \n Jonathan Korol\n \n joins as new Chief Executive Officer\n \n \n \n \n Additional CMBS loan relief successfully completed\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Oct. 13, 2020\n \n /CNW/ - American Hotel Income Properties REIT LP (\"AHIP\" or the \"Company\") (TSX: HOT.UN)  (TSX: HOT.U) (HOT.DB.U) announced today that for the month of\n \n September 2020\n \n , occupancy across its portfolio of 78 Premium Branded hotels averaged 57.8%. This compares to 49.6% occupancy reported for September by STR Inc. for AHIP's direct competitive set, and occupancy of 34.7% reported by AHIP during the second quarter of 2020. As previously disclosed, the Company expects to generate positive cash flows when monthly occupancy is sustained above the 50% level. All 78 of AHIP's hotels are open and accepting guests. The Company's 24 extended stay hotels continue to be the best performing segment of AHIP's portfolio, averaging 69.9% occupancy in September.\n \n \n AHIP is also pleased to confirm that\n \n Jonathan Korol\n \n joined the Company as Chief Executive Officer, on\n \n October 7, 2020\n \n .\n \n \n \"AHIP continues to be one of the best positioned U.S. hotel REITs within the current economic environment,\" said\n \n Jonathan Korol\n \n , CEO. \"Our portfolio consists of 78 high-quality Premium Branded select-service properties located in secondary U.S. markets. Almost half of our room count consists of extended-stay hotels or others that offer suites with full kitchen amenities. These hotels continue to appeal to domestic travelers, demonstrated by the higher occupancy rates we've recorded across our hotels relative to many of our U.S. hotel REIT peers. I look forward to a sustained recovery of the Portfolio over the coming months and expect AHIP to be ...