American Hotel Income Properties REIT LP Announces Board Changes

VANCOUVER, British Columbia, Oct. 18, 2023 (GLOBE NEWSWIRE) -- American Hotel Income Properties REIT LP ("AHIP", or the "Company") (TSX: HOT.UN, TSX: HOT.U, TSX: HOT.DB. V), announced today the appointment of Amy Freedman as an independent director and the resignation of Richard Frank as an independent director of the Company.

W. Michael Murphy, AHIP's Chair, commented "We are pleased to have Ms. Freedman join our Board as she brings with her a wealth of knowledge in capital markets and shareholder advisory matters as well as significant public company board experience that complements and adds to the diversity of skills and experience of our existing Board members."

Ms. Freedman was also appointed as the Chair of the Compensation Committee and as a member of each of the Audit Committee and Investment Committee effective today.

Amy Freedman is a Partner and Head of Engagement Fund Investment at Ewing Morris & Co. Investment Partners Ltd. Ms. Freedman was previously Chief Executive Officer of Kingsdale Advisors, a leading shareholder services and advisory firm specializing in strategic and defensive advisory, governance advisory, proxy and voting analytics and investor communications. Prior to Kingsdale, Ms. Freedman spent over 15 years in capital markets as an investment banker with global firms including Stifel and Morgan Stanley in both Toronto and New York. She holds an MBA and JD from the University of Toronto. Ms. Freedman currently serves as a director of Canaccord Genuity Corp. and Mandalay Resources Corporation.

Ms. Freedman was appointed following an extensive search and review of qualified candidates conducted by AHIP as part of its previously disclosed commitment to add a further female director to its Board prior to year end in furtherance of AHIP's overall commitment to Board diversity.

Mr. Frank resigned as a director of the Company and from various Board Committees in order to focus on other opportunities and to allow AHIP to progress its Board gender diversity goals. Mr. Murphy noted "Rick has been a valuable member of the Board since 2016. We thank him for his considerable efforts and contributions to the Board over the years and wish him success in his future endeavours."

ABOUT AMERICAN HOTEL INCOME PROPERTIES REIT LP

American Hotel Income Properties REIT LP (TSX: HOT.UN, TSX: HOT.U, TSX: HOT.DB.V), or AHIP, is a limited partnership formed to invest in hotel real estate properties across the United States. AHIP's portfolio of premium branded, select-service hotels are located in secondary metropolitan markets that benefit from diverse and stable demand. AHIP hotels operate under brands affiliated with Marriott, Hilton, IHG and Choice Hotels through license agreements. AHIP's long-term objectives are to build on its proven track record of successful investment, deliver monthly U.S. dollar denominated distributions to unitholders, and generate value through the continued growth of its diversified hotel portfolio. More information is available at www.ahipreit.com.

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