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Enter Symbol
or Name
USA
CA



American Hotel Income Properties REIT LP
Symbol HOT
Shares Issued 24,402,490
Close 2015-03-05 C$ 10.96
Market Cap C$ 267,451,290
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American Hotel Income opens 110-room Kansas hotel

2015-03-05 23:04 ET - News Release

An anonymous director reports

AMERICAN HOTEL INCOME PROPERTIES REIT LP ANNOUNCES THE GRAND OPENING OF THE NEW 110-ROOM OAK TREE INN RAIL HOTEL IN WELLINGTON, KANSAS

American Hotel Income Properties REIT LP (AHIP) has opened the new 110-room Oak Tree Inn hotel in Wellington, Kan. The hotel was purpose built for a national U.S. railway client and is AHIP's 38th Oak Tree Inn railway hotel. This hotel represents a further expansion of AHIP's strategy to be the largest and preferred provider of specialized accommodation facilities to the U.S. freight railway industry.

The property was acquired on Feb. 25, 2015, for $7.4-million (U.S.) from SunOne Developments Inc., pursuant to a master development agreement.

The property was officially opened earlier today with a ribbon-cutting ceremony including Roger Stallbaumer, the Mayor of Wellington, John O'Neill, president of O'Neill Hotels & Resorts Ltd., Bill Burgess of Lodging Enterprises and Robert Hibberd, executive vice-president of AHIP. Railway and union officials along with representatives from SunOne, hotel management and other key dignitaries also participated in the ceremony. The property is secured by a 10-year railway contract that guarantees a majority of the available room nights. The property will operate under the Oak Tree Inn brand with its slogan of "When Rest Matters" and offering of "Dark & Quiet" accommodation to both rail and non-rail customers.

"Wellington is a strategic location for AHIP as it extends our 20-year relationship with a key railway client for another decade. This hotel is the fourth Oak Tree Inn delivered by SunOne over the past few months," said Rob O'Neill, chief executive officer. "We continue to explore a number of new-build, expansion and conversion opportunities to grow our portfolio of Oak Tree Inn hotels, the largest and highest-quality chain of crew lodging facilities presently serving the U.S. freight railway industry."

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