American Hotel Income Properties REIT (HOT-UN) Investor presentation summary

Investment highlights and value proposition

• Portfolio rationalization and recent asset sales have improved RevPAR, margins, and leverage, with current market valuation significantly discounted relative to portfolio value at the current unit price.

• Premium-branded, select-service hotels offer operational upside with a lean model, resilient demand drivers, and reduced reliance on labor.

• Asset sales have increased liquidity, enabling debt reduction and addressing future obligations.

• The macro environment is favorable, with declining hotel construction and expectations for rate cuts in 2027.

Financial position and strategic initiatives

• Refinanced and repaid multiple loans, including full repayment of RCF, term loans, and several CMBS mortgage loans, with no debt maturing until Q4-2026.

• Disposed of 26 hotels since 2025 for gross proceeds exceeding $294 million, with additional sales under consideration.

• Redeemed $25 million of Series C Shares, with $25 million remaining; plans to raise capital to address remaining Series C Shares and Convertible Debentures maturing in 2026.

• Maintains a stable cash position and time to address future obligations in an orderly manner.

Portfolio overview and brand strength

• Current portfolio consists of 23 hotels with 2,414 keys across 11 states and 20 cities, averaging 7 years since last renovation.

• Focused on premium-branded, select-service, and extended-stay hotels affiliated with Marriott, Hilton, and IHG.

• Portfolio is geographically diversified, primarily in suburban and small metro drive-to locations.

• Strong brand recognition and access to global reservation systems and loyalty programs.