VANCOUVER — American Hotel Income Properties REIT LP (AHIP) has released strong year-end results for 2015.
“I am delighted to announce that AHIP was the best performing hotel REIT in North America for 2015 with a total return of approximately 16 per cent and total returns of approximately 33 per cent since our IPO three years ago,” says Rob O’Neill, CEO of AHIP. “This significant achievement demonstrates the value of our strategy of owning two unique and balanced rail and branded hotel portfolios, which we continued to expand through accretive and strategic acquisitions made during the year.”
Total revenues increased by $50.7 million to $143.8 million compared to $93.1 million for the prior period — a gain of 54 per cent.
AHIP’s 2015 results were bolstered by the acquisition of 12 branded hotels comprising 984 guestrooms and seven rail hotels totaling 766 guestrooms. RevPAR increased by 4.6 per cent for the year to $60.12 compared to $57.47 for the same period last year, reflecting the impact of the higher ADR contribution from AHIP’s portfolio of branded hotels.