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American Hotel Income Properties REIT LP Reports Q1 2026 Results
VANCOUVER, British Columbia, May 14, 2026 (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 2026 Results\nVANCOUVER, British Columbia, May 14, 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 its financial results for the three months ended March 31, 2026. All amounts presented in this news release are in United States dollars (“U.S. dollars”) unless otherwise indicated. 2026 FIRST QUARTER HIGHLIGHTS Same Property ADR(1) was $142 for the first quarter of 2026 an increase of 2.2% compared to $139 for the same period of 2025.Same Property Occupancy(1) was 68.7% for the first quarter of 2026, a decrease of 30 bps compared to 69.0% for the same period of 2025.Same Property RevPAR(1) was $98 for the first quarter of 2026, an increase of 2.1% compared to $96 for the same period of 2025.Same property NOI(1) was $8.7 million for the first quarter of 2026, a decrease of 13.1% compared to $10.1 million for the same period of 2025.Same property NOI margin(1) was 24.1% for the first quarter of 2026, a decrease of 430 bps compared to 28.4% for the same period of 2025.RevPAR(1) increased by 5.4% to $97 for the first quarter of 2026, compared to $92 for the same period of 2025.Diluted FFO per unit(1) and normalized diluted FFO per unit(1) were ($0.03) for the first quarter of 2026, compared to ($0.02) for the same period of 2025.Revenue decreased 25.2% to $36.4 million for the first quarter of 2026, compared to $48.6 million for the same period of 2025.NOI decreased 35.0% to $8.2 million for the first quarter of 2026, compared to $12.7 million for the same period of 2025.AHIP had $28.6 million in available liquidity as at March 31, 2026, compared to $51.5 million as at December 31, 2025. The available liquidity of $28.6 million was comprised of an unrestricted cash balance of $15.5 million and borrowing availability of $13.1 million under the Portfolio Loan for capital improvements related to the properties secured by the loan.AHIP has no debt maturities until the fourth quarter of 2026.On March 13, 2026, AHIP redeemed $25.0 million of the $50.0 million stated face value of the Series C Shares.As of May 4, 2026, AHIP announced a review of strategic alternatives to maximize unitholder value. This review may result in further hotel sales to e...