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American Hotel Income Properties REIT LP (T:HOT.UN)

Business Focus: Hospitality REITs

Sector:  Financials Industry:  Specialized REITs
See Regulatory Filings on SEDAR
Company Contact
Address: 800 - 925 West Georgia Street
Tel: 1-604-6706242
IR: See website
Key People
W. Michael Murphy
Independent Chairman of the Board
Jonathan Korol
Chief Executive Officer
john O'Neill
Chief Executive Officer of American Hotel Income Properties REIT (GP) Inc
Azim Lalani
Chief Financial Officer
Bruce Douglas Pittet
Chief Operating Officer
Christian Cameron
Chief Investment Officer
Anne Yu
Vice President - Finance
Business Overview
American Hotel Income Properties REIT LP is a Canada-based limited partnership company that invests in hotel real estate properties primarily in the United States. The principal business of the Company is to issue units and to acquire and hold shares of the American Hotel Income Properties REIT Inc. (U.S. REIT). It operates in two segments: the Rail Hotels and Branded Hotels. Its portfolio of Rail Hotels consists of approximately 50 properties representing approximately 3,720 rooms. All of the properties are operated under its own Oak Tree Inn brand and are designed or converted to fulfill the operating needs of railroad operators. Penny's Diner restaurants consist of approximately 30-unit restaurant chain servicing Oak Tree Inn hotel guests, drive-by guests and local residents. Its portfolio of Branded Hotels consists of approximately 78 hotel properties. The Branded Hotels are located near airports, highway interchanges and other transportation hubs.
Financial Overview
For the six months ended 30 June 2020, American Hotel Income Properties REIT LP revenues decreased 34% to $89.1M. Net loss before extraordinary items totaled $33.4M vs. income of $6.3M. Revenues reflect Occupancy - % Branded Hotels decrease of 38% to 48.5%, Daily Room Rate (ADR) - Average-Branded decrease of 9% to $105, FFO per Share (Diluted) decrease from $0.23 to -$0.03, Rooms decrease of 33% to $83.9M, Food.
Employees: 11 as of Dec 31, 2019
Reporting Currency: U.S. Dollars
Enterprise value: $1,191M as of Jun 30, 2020
Annual revenue (TTM): $297.20M as of Jun 30, 2020
EBITDA (TTM): $67.72M as of Jun 30, 2020
Net annual income (TTM): -$49.93M as of Jun 30, 2020
Free cash flow (TTM): -$183.27M as of Jun 30, 2020
Net Debt Last Fiscal Year: $1,017M as of Jun 30, 2020
Shares outstanding: 78,184,788 as of Aug 19, 2020
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization