VANCOUVER, Jan. 4, 2016 /PRNewswire/ - American Hotel Income Properties REIT LP ("AHIP") (TSX: HOT.UN; OTCQX: AHOTF) announced today the appointment of Ms. Beth Walters and Mr. Richard Frank to its Board of Directors effective immediately.
Ms. Beth Walters
Ms. Walters has substantial experience in the hotel industry, currently as President of hospitality consulting company BWC and having previously served as a National PKF Consulting Canada Director and Director for Western Canada for over 21 years. Based in Vancouver, Ms. Walters provides advisory services, strategic planning, feasibility analysis and development support as well as valuations and appraisals for hotels and other hospitality related businesses. Ms. Walters' experience includes a wide variety of public and private sector projects for a myriad of property types, franchises, ownership and management structures and in these capacities has provided advisory services for hotel industry assets valued in the billions of dollars. Ms. Walters holds a Bachelor of Arts degree from the University of Alberta.
Mr. Richard Frank
Mr. Frank's experience includes serving as Chief Investment Officer at Pillar Hotels and Resorts, one of the largest independent management companies in the United States; serving as Senior Vice President Hotel Investments at Behringer Harvard, a real estate investment management firm that has managed over $6 billion of equity; and serving as Vice President at AEW Capital Management and Olympus Real Estate Partners. Mr. Frank also gained considerable hotel operational experience at Starwood Hotels and ITT Sheraton Corporation. He began his hotel career over 30 years ago at Arthur Andersen, specializing in the real estate and hospitality industries. Based in Dallas, Mr. Frank also holds an undergraduate degree from the School of Hotel Administration at Cornell University and an MBA from Fordham University.
Peter Armstrong, AHIP's Chairman and Lead Independent Director, commented, "We are pleased to have two individuals with such strong experience and expertise in all facets of the hotel industry in Canada and the U.S join AHIP's Board of Directors."
ABOUT AMERICAN HOTEL INCOME PROPERTIES REIT LP
AHIP is a limited partnership formed under the Limited Partnerships Act (Ontario) to invest in hotel real estate properties located substantially in the United States and is engaged primarily in the rail crew lodging, transportation-oriented, and select-service lodging sectors. AHIP's properties are mostly located in secondary and tertiary markets in the United States in close proximity to railroads, airports, highway interchanges, and other demand generators. AHIP's long-term objectives are to: (i) generate stable and growing cash distributions from hotel properties substantially in the U.S.; (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 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.
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SOURCE American Hotel Income Properties REIT LP