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AMERICAN HOTEL INCOME PROPERTIES NEWS RELEASE AMERICAN HOTEL INCOME PROPERTIES REIT LP REPORTS THIRD QUARTER 2021 RESULTS Revenues increased to $ 68.4 million compared to $ 63.6 million in Q2 2021 • Q3 ADR of $ 118.49 matched Q3 2019 levels , Occupancy of 68.8 % & RevPAR of $ 81.50 Q3 2021 diluted FFO per unit of $ 0.32¹ ; or $ 0.16 per unit excluding non - recurring items New distribution policy adopted ; reinstating monthly distributions in March 2022 at an annual rate of USD $ 0.18 per unit • Payment of deferred March 2020 distribution to be made on December 31 , 2021 • Total liquidity as at September 30 , 2021 was $ 43.6 million ( numbers are in U.S. dollars unless otherwise indicated ) VANCOUVER , B.C. ( November 9 , 2021 ) American Hotel Income Properties REIT LP ( " AHIP " , or the " Company " ) ( TSX : HOT.UN , TSX : HOT.U , TSX : HOT.DB.U ) announced today its financial results for the three and nine months ended September 30 , 2021 . " During the third quarter our portfolio continued to post impressive results , with both top and bottom - line measures nearing pre - COVID levels . " said Jonathan Korol , CEO . Mr. Korol continued , " Persistent demand from the domestic leisure traveller and signs of improvement from business customers resulted in Q3 average daily rate matching Q3 2019 numbers . In addition , steady Occupancy together with persistent margin improvements resulted in portfolio net operating income finishing within three percentage points of 2019 levels . These results demonstrate signs of continued improvement despite the ongoing COVID - 19 pandemic . " 1 " We are pleased to announce that the Board has approved the re - instatement of monthly distributions on our units with payment commencing in March 2022 at an annual rate of USD $ 0.18 per unit . In addition , the Board also approved the payment of our deferred March 2020 distribution on December 31 , 2021. " Mr. Korol added : " The return of our monthly distribution is appropriate and possible due to the financial resiliency of our portfolio . Throughout the pandemic , AHIP's portfolio has demonstrated one of the primary benefits of the premium - branded select service hotel operating model - the ability to generate cash flow at fluctuating levels of demand . " " We believe this distribution policy is sustainable and will help us manage our liquidity and maintain discipline with our balance sheet , which in turn will improve AHIP's access to capital markets to fund new acquisitions . " Mr. Korol continued : " As one of the first North American public lodging REITs to announce the re - instatement of regular distributions , I am extremely proud of the measures adopted by our team during the pandemic and the ongoing dedication of our hotel associates , absent which we would not have reached this milestone so soon . " Including two non - recurring items further discussed in this news release not adjusted for in accordance with the REALPAC Whitepaper on FFO . - PAGE 1 OF 10 Suite 800.925 West Georgia Street Vancouver British Columbia V6C 3L2 Canada - Telephone ( 604 ) 630-3134 Fax ( 604 ) 629-0790