VANCOUVER, BC, Aug. 9, 2022 /CNW/ – American Hotel Income Properties REIT LP (“AHIP“, or the “Company“) (TSX: HOT.UN) (TSX: HOT.U) (TSX: HOT.DB.V), today announced its financial results for the three and six months ended June 30, 2022.
All amounts presented in this news release are in United States dollars (“U.S. dollars“) unless otherwise indicated.
“We are pleased with the performance of our premium branded select-service hotel portfolio this quarter.” commented Jonathan Korol, CEO. “Our team’s ability to optimize daily rates in an inflationary environment resulted in the achievement of our highest quarterly average daily rate (“ADR“)(1) levels in the history of the Company, while our fixed rate debt structure allowed us to meet our internal expectations for cash flow generation.”
2022 SECOND QUARTER HIGHLIGHTS
- Revenue increased 19.0% to $75.6 million, compared to $63.6 million in…