NEW YORK, July 24, 2013 /PRNewswire/ -- S&P Capital IQ announced today that it has commenced Standard & Poor's Factual Stock Report coverage on American Hotel Income Properties REIT LP.
American Hotel Income Properties REIT LP (Toronto Stock Exchange: HOT.UN; OTCQX: AHOTF) 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. The partnership's long-term objectives are to generate stable and growing cash distributions from hotel properties substantially in the U.S.; enhance the value of its assets and maximize the long-term value of the hotel properties through active management; and expand its asset base and increase its Adjusted Funds From Operations per Unit through an accretive acquisition program, participation in strategic development opportunities and improvements to its properties through targeted value-added capital expenditure programs.
American Hotel Income Properties REIT LP's initial portfolio consists of 32 fully operational hotel properties, including 2,565 guest rooms and 23 diners operating under the name Penny's Diner, which were acquired in February 2013. The initial portfolio is geographically diversified among 19 states in the U.S., and management believes this comprises the largest chain of crew lodging facilities presently serving the U.S. freight railroad industry. The average age of the properties is approximately 10 years (including major renovations).
During the first quarter of 2013, American Hotel Income Properties REIT LP completed the transition of all hotel management operations to an external hotel manager, TR Lodging Enterprises Inc. The number of available rooms as of March 31, 2013 was 2,505, and the occupancy rate for the 39-day period from February 20, 2013 to March 31, 2013 was 80.0%.American Hotel Income Properties REIT LP was formed in 2012 and is based in Vancouver, British Columbia, Canada. Please visit www.ahipreit.com for additional information. Standard & Poor's Factual Stock Report coverage on American Hotel Income Properties REIT LP will also be accessible on an ongoing basis to the investment community by scores of buy-side institutions and sell-side firms that utilize S&P Capital IQ research and information platforms daily. Millions of self-directed investors also have access to the report via their e-brokerage accounts. About Standard & Poor's Factual Stock Reports Currently profiling approximately 500 issuers, Standard & Poor's Factual Stock Reports, produced by S&P Capital IQ, increase market awareness of issuers in the investment community with insightful commentary and key statistics and information. Standard & Poor's Factual Stock Reports provide factual research coverage about company fundamentals and business prospects, thereby enabling information about covered companies to reach a wide investor audience of Buy and Sell-side investors. Updated weekly with the latest pricing, trading volume, and other data, the reports include recent developments, a financial review, key operating information, industry and peer comparisons, institutional holdings analysis, Street Consensus and opinions, performance charts, business summary, fundamental data, and news. Because coverage of these reports is underwritten by the issuer, S&P Capital IQ does not offer investment opinions concerning the advisability of investing in these stocks.