WhereDaily News: American Hotel Income Properties REIT LP Announces the Addition of 24 Guestrooms at the High Occupancy Oak Tree Inn Hotel in Hearne, Texas and a Corporate Update

VANCOUVER, BC--(Marketwired - April 01, 2016) - American Hotel Income Properties REIT LP ("AHIP") (TSX: HOT.UN) (OTCQX: AHOTF) announced today the acquisition of its previously announced 24-room expansion at the existing, high occupancy, 116-room Oak Tree Inn hotel and Penny's Diner located in Hearne, Texas (the "Hearne Property") for a total purchase price of US$2.4 million. AHIP funded the acquisition with cash-on-hand and the issuance of US$475,000 (or 59,088 AHIP units) from treasury. The units were issued at Cdn$10.44 per unit, which represents the five-day volume-weighted average trading price.

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