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American Hotel Income Properties REIT LP Reports Q1 2025 Results With 5.7% RevPAR Growth
VANCOUVER, British Columbia, May 14, 2025 (GLOBE NEWSWIRE) -- American Hotel Income Properties RE...
About this update from American Hotel Income Properties Reit Lp
[{"type":"text","content":"American Hotel Income Properties REIT LP Reports Q1 2025 Results With 5.7% RevPAR Growth\n\n\n\n VANCOUVER, British Columbia, May 14, 2025 (GLOBE NEWSWIRE) -- American Hotel Income Properties REIT LP (“\n \n AHIP\n \n ”, or the “\n \n Company\n \n ”) (TSX: HOT.UN, TSX: HOT.U, TSX: HOT.DB. V), today announced its financial results for the three months ended March 31, 2025.\n \n\n All amounts presented in this news release are in United States dollars (“\n \n U.S. dollars\n \n ”) unless otherwise indicated.\n \n\n\n 2025 FIRST QUARTER HIGHLIGHTS\n \n\n\n\n Completed the dispositions of three hotel properties for total gross proceeds of $41.2 million at a blended Cap Rate\n \n (1)\n \n of 6.9% on 2024 annual hotel EBITDA\n \n (1)\n \n .\n \n\n Completed two refinancings for total gross proceeds of $144.3 million which resulted in the full repayment of AHIP’s senior credit facility which was comprised of the Credit Facility Revolver and Credit Facility Term Loan (defined below).\n \n\n Diluted FFO per unit\n \n (1)\n \n and normalized diluted FFO per unit\n \n (1)\n \n were $(0.02) for the first quarter of 2025, compared to $0.03 and $0.02 respectively for the same period in the prior year.\n \n\n ADR\n \n (1)\n \n increased 3.1% to $135 for the first quarter of 2025, compared to $131 for the same period of 2024.\n \n\n Occupancy\n \n (1)\n \n was 67.9% for the first quarter of 2025, an increase of 150 bps compared to 66.4% for the same period of 2024.\n \n\n RevPAR\n \n (1)\n \n increased 5.7% to $92 for the first quarter of 2025, compared to $87 for the same period of 2024.\n \n\n Same property NOI\n \n (1)\n \n was $12.4 million for the first quarter of 2025, a decrease of 2.8% compared to $12.7 million for the same period of 2024.\n \n\n Same property NOI margin\n \n (1)\n \n was 27.7% for the first quarter of 2025, a decrease of 120 bps compared to 28.9% for the same period of 2024.\n \n\n AHIP has no debt maturities until the fourth quarter of 2026 assuming the properties currently under contract for sale close as expected.\n \n\n AHIP intends to continue its strategy to sell hotel properties to enhance liquidity, reduce debt and manage future financial obligations.\n \n\n\n “AHIP continues to make significant progress on our plan to reduce debt and high-grade the portfol...