An anonymous trustee reports

AMERICAN HOTEL INCOME PROPERTIES REIT LP ANNOUNCES CORPORATE UPDATE

American Hotel Income Properties REIT LP (AHIP) has provided an update on hotel sales and the previously announced review of strategic alternatives.

All amounts presented in this news release are in U.S. dollars, unless otherwise indicated.

AHIP recently completed the previously disclosed sale of the Holiday Inn Express & Suites in Fort Myers, Fla., and refinanced the Embassy Suites Cincinnati RiverCenter in Covington, Ky. (which property was previously unencumbered). Following the completion of these transactions, AHIP had an unrestricted cash balance as of Sept. 24, 2026, of approximately $42-million, compared with $21.5-million as at June 30, 2026.

In September, 2026, AHIP signed purchase and sale agreements (PSAs) for the sale of five individual hotels, with one additional hotel expected to be under a PSA within the next 10 days. These six hotels are in New Jersey, Pennsylvania, Connecticut and Florida and are in addition to the three hotels in Florida and Tennessee (two hotels) previously disclosed to be under a PSA. The total gross proceeds for the sale of these six hotels are estimated to be approximately $95-million, if completed. The majority of these sales are targeted to close by the end of the fourth quarter of 2026, subject to the satisfaction of the conditions set forth in the respective PSAs. The net proceeds from the sale of these six hotels, together with AHIP's cash on hand, are intended to support the repayment of the $25-million outstanding on the Series C preferred shares and the $49.7-million outstanding on the 6.0 per cent unsecured subordinated convertible debentures, which mature on Dec. 31, 2026.

AHIP has made progress since the strategic review was announced on May 4, 2026, but has not yet established a definitive timeline to complete the strategic review or any potential transaction. There can be no assurance that the strategic review will result in any transaction or initiative or, if a transaction or initiative is undertaken, as to the terms or timing of such a transaction or initiative. AHIP does not currently intend to disclose further developments in connection with or arising from the strategic review or in connection with any transaction, initiative or related matter, unless and until it is determined that disclosure is necessary or appropriate.

About American Hotel Income Properties REIT LP

American Hotel Income Properties 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 and IHG Hotels through licence agreements.

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