VANCOUVER, July 22, 2013 /PRNewswire/ - American Hotel
Income Properties REIT
LP ("AHIP") (Toronto Stock Exchange: HOT.UN; OTCQX: AHOTF)
announced
today that its Limited Partnership Units have been approved for
trading
in the United States on the OTCQX
International marketplace ("OTCQX").
AHIP will trade under the symbol "AHOTF".
AHIP will continue to trade on the Toronto Stock Exchange under
its
existing symbol "HOT.UN".
"We are pleased to have received approval to have our Limited
Partnership Units traded on the OTCQX. The U.S. listing provides
access
to a transparent financial marketplace that will provide more
exposure
and accessibility for AHIP in the United
States," commented Robert
O'Neill, Chief Executive Officer.
"We are pleased to welcome American Hotel Income Properties REIT LP
to
OTCQX," said R. Cromwell Coulson,
President and CEO of OTC Markets
Group. "OTCQX provides qualifying companies like American
Hotel Income
Properties REIT LP the ability to distinguish themselves in the
U.S.
market and increase their visibility with traders, investors,
analysts
and the media through high-quality disclosure, transparent trading
and
ease of access to company information. We look forward to
supporting
the management team at American Hotel Income Properties REIT LP as
they
continue to grow the company and provide a robust public market
for
their Limited Partnership Units."
AHIP began trading today on OTCQX International, a segment of the
OTCQX
marketplace reserved for high-quality non-U.S. companies that
are
listed on a qualified international exchange, undergo
management
reviews and provide their home country disclosure to U.S.
investors.
U.S. investors can find current financial disclosures and
Real-Time
Level 2 quotes for the company on www.otcmarkets.com.
Dorsey & Whitney LLP will serve as AHIP's Principal American
Liaison
("PAL") on OTCQX, responsible for providing professional guidance
on
OTCQX requirements.
Forward-Looking Information
This news release contains forward-looking information within
the
meaning of applicable securities legislation, which reflects
AHIP's
current expectations regarding future events. Forward-looking
information is identified by the use of terms and phrases such
as
"anticipate", "believe", "could", "estimate", "expect",
"intend",
"may", "plan", "predict", "project", "will", "would" and similar
terms
and phrases and includes, but is not limited to, the amount of
the
expected monthly cash distributions and annual yield for the Units
and
the timing to pay the first cash distribution to unitholders,
Forward-looking information is based on a number of assumptions and
is
subject to a number of risks and uncertainties, many of which
are
beyond AHIP's control, that could cause actual results and events
to
differ materially from those that are disclosed in, or implied by,
such
forward-looking information. Such assumptions include, but are
not
limited to, a reasonably stable North American economy and
stock
market. Such risks and uncertainties include, but are not limited
to,
the factors discussed under "Risk Factors" in AHIP`s
Management's
Discussion and Analysis dated March 28,
2013. The forward-looking
information contained herein is made as of the date of this
news
release and, except as expressly required by applicable law,
AHIP
assumes no obligation to publicly update or revise such
information,
About American Hotel Income Properties REIT LP
AHIP is a limited partnership formed under the Limited Partnership
Act
(Ontario) to invest in hotel real
estate properties located
substantially in the United States
and engaged primarily in the
railroad employee accommodation, transportation, and
contract-focused
lodging sectors. AHIP's long-term objectives are to: (i)
generate
stable and growing cash distributions from hotel properties
substantially in the US; (ii) enhance the value of its assets
and
maximize the long-term value of the hotel properties through
active
management; and (iii) expand its asset base and increase its
Adjusted
Funds From Operations ("AFFO") per Unit through an accretive
acquisition program, participation in strategic development
opportunities and improvements to its properties through
targeted
value-added capital expenditure programs.
Additional information relating to AHIP, including its other
public
filings, is available on SEDAR at www.sedar.com and on AHIP's
website at www.ahipreit.com.
SOURCE American Hotel Income Properties REIT LP