<img src="https://ml.globenewswire.com/Resource/Download/878f7771-6dbe-4e05-a7ad-e106ffb01cc6?size=2" nborder="0" align="left" hspace="5" vspace="5" title="AHIP_Logo_Inc_CMYK_Horiz.jpg" alt="American Hotel Income Properties"/>VANCOUVER, British Columbia, May 21, 2026 (GLOBE NEWSWIRE) -- American Hotel Income Properties REIT LP (“AHIP”, or the “Company”) (TSX: HOT.UN, TSX: HOT.U, TSX: HOT.DB. V) announced today that the board of directors of AHIP’s general partner (the “Board”) has called an annual and special meeting of unitholders of AHIP (“Unitholders”) to be held on June 18, 2026 (the “Meeting”). The information circular and voting-related materials for the Meeting are being mailed to Unitholders and are also available under AHIP’s profile on SEDAR+ at <a href="https://www.globenewswire.com/Tracker?data=5c-fXgg3eMsky7ouSiCL-4vcgcN9s-ddNEwZ3iJRHE3JR6uA2bLQuv-Y5k931fPrmVRqyJjNcXeeCsHLvGpLL4uFQY5ePviwN4OWPcTxvuE=" rel="nofollow" target="_blank" title="www.sedarplus.ca">www.sedarplus.ca</a> and on AHIP’s website at https://www.ahipreit.com. In addition to usual annual meeting business, Unitholders will be asked at the Meeting to consider and approve amendments to AHIP’s Amended and Restated Limited Partnership Agreement (the “LP Agreement”) that would provide the Board with the ability to execute efficiently and decisively on its strategic objective to maximize value for Unitholders. AHIP successfully sold seven hotel properties in 2026 to date for total gross proceeds of $111.8 million, which includes the completion of the sale of four hotels on May 20, 2026 that were previously disclosed to be under contract for sale. These sales along with the hotel sales completed in 2025 have demonstrated, in aggregate, value for AHIP’s portfolio in excess to what the Board believes is indicated by AHIP’s current Unit price. As a result, on May 4, 2026, AHIP announced that the Board had initiated a review of strategic alternatives (the “Strategic Review”) to maximize Unitholder value and that Robert W. Baird &amp; Co. Incorporated had been retained as financial advisor to advise AHIP in connection with its Strategic Review. These alternatives may include individual hotel sales, portfolio transactions, refinancing opportunities, the sale of substantially all of AHIP’s remaining assets, or other strategic initiatives. Under AHIP’s current LP Agreement, Unitholders are required to approve of a sale of all or substantially all of AHIP’s assets which may materially delay any potential transaction and could dissuade interested parties from pursuing a transaction with AHIP. The proposed amendments to the LP Agreement are intended to ensure the Board can act swiftly if attractive opportunities emerge, without unnecessary delays, increased execution risk or the expense associated with convening additional Unitholder meetings. The Board believes this is important to maximize value for all Unitholders and positions AHIP to respond effectively to market opportunities as they arise. The Board unanimously believes the proposed amendments to the LP Agreement are in the best interests of AHIP and Unitholders and recommends that Unitholders vote FOR the proposed amendments. ABOUT AMERICAN HOTEL INCOME PROPERTIES REIT LP American Hotel Income Properties REIT LP (TSX: HOT.UN, TSX: HOT.U, TSX: HOT.DB.V), or AHIP, 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 license agreements. FORWARD-LOOKING INFORMATION This news release contains forward-looking information within the meaning of applicable securities laws. Forward-looking information generally can be identified by words such as “anticipate”, “believe”, “continue”, “expect”, “estimates”, “intend”, “may”, “outlook”, “objective”, “plans”, “should”, “will” and similar expressions suggesting future outcomes or events. Forward-looking information includes, but is not limited to, statements made or implied relating to the objectives of AHIP, AHIP’s strategies to achieve those objectives and AHIP’s beliefs, plans, estimates, projections and intentions and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Forward-looking information in this news release includes, but is not limited to, statements with respect to: the Strategic Review and the possibility of a transaction or initiative involving AHIP, and the potential nature of such transactions; and the proposed amendments to the LP Agreement and implications and potential benefits thereof. Although AHIP believes that the expectations reflected in the forward-looking information contained in this news release are reasonable, AHIP can give no assurance that these expectations will prove to be correct. The estimates and assumptions, which may prove to be incorrect, include, but are not limited to: AHIP will complete its currently planned divestitures on the terms currently contemplated and in accordance with the timing currently contemplated; AHIP will meet its objective of generating sufficient capital to address the redemption of the Series C Shares and the convertible debentures; and AHIP will realize the anticipated benefits of the proposed amendments to its LP Agreement if approved by Unitholders at the Meeting. Forward-looking information involves significant risks and uncertainties and should not be read as guarantees of future performance or results as actual results may differ materially from those expressed or implied in such forward-looking information; accordingly, undue reliance should not be placed on such forward-looking information. Those risks and uncertainties include, among other things, risks related to: AHIP may not complete its currently planned divestures on the terms currently contemplated or in accordance with the timing currently contemplated, or at all; AHIP may not complete a transaction or initiative that creates or improves Unitholder value as result of the Strategic Review or otherwise; AHIP may not meet its objective of raising sufficient capital to address the redemption of the Series C Shares and the convertible debentures; Unitholders may not approve the proposed amendments to the LP Agreement at the Meeting, and even if approved, AHIP may not realize the anticipated benefits thereof; if the amendment to LP Agreement is approved, the Board will have the authority to sell all or substantially all of the assets of AHIP, distribute, at the discretion of the Board, all or a part of, the net proceeds of any such sales to holders of Units in the amounts and at the times determined by the Board, and wind-up, liquidate, dissolve or take any such similar action to terminate the LP Agreement (and thus AHIP), in each case without any requirement for further Unitholder approval (subject to applicable securities and other laws); if all or substantially all of the assets of AHIP are sold and the net proceeds distributed, AHIP may no longer meet the criteria for a listing on the Toronto Stock Exchange and the Units and convertible debentures could be delisted. Additional information about risks and uncertainties is contained in this news release and in AHIP’s most recently filed annual information form and management’s discussion and analysis, copies of which are available on SEDAR+ at <a href="https://www.globenewswire.com/Tracker?data=5c-fXgg3eMsky7ouSiCL-_FEnp8McldybbXkK4IT4h7BJEYy6an9IzkIkwn-DKs-Au0FD9MWaqyIJuwjs86oYy4sITd8al5dRhz1Dija49o=" rel="nofollow" target="_blank" title="">www.sedarplus.com</a>. The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management's current beliefs and are based on information currently available to AHIP. The forward-looking information is made as of the date of this news release and AHIP assumes no obligation to update or revise such information to reflect new events or circumstances, except as may be required by applicable law. For further information, please contact: <a href="https://www.globenewswire.com/Tracker?data=wktvLRYdmMH7VjCMmmOLsupxWhfeJN8XYv15SQGsJv4Fio0hynSPbuVrYEhoTGqYf6fJ_25tU0p-nnTl6tEX-ek21chgyfTgLA5BJ0kx18I=" rel="nofollow" target="_blank" title="info@ahipreit.com">info@ahipreit.com</a>  <img alt="" src='https://ml.globenewswire.com/media/NjE2MzNlNTktNDI3YS00NmUzLTkyNWUtYTBlZTU4ZjdiY2Y3LTExMDM4MzEtMjAyNi0wNS0yMS1lbg==/tiny/American-Hotel-Income-Properti.png' referrerpolicy='no-referrer-when-downgrade' />

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American Hotel Income Properties REIT LP Announces  Annual and Special Meeting of Unitholders

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