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VANCOUVER, BC /PRNewswire/ – United states Hotel Income Properties REIT LP (“AHIP”) (TSX: HOT.UN, HOT.U and HOT.DB.U) is happy to announce that Jonathan Korol was appointed its ceo effective October 7 , 2020. Mr. Korol is a leader that is proven brings a deep knowledge of the united states hotel industry gathered over decades being an owner, operator and asset supervisor, making him the perfect prospect to assume the part of CEO.
Mr. Korol concerns their brand new part from SilverBirch Hotels & Resorts (“SilverBirch”), where he has been President since February 2017
At SilverBirch, Jonathan oversaw one of Canada’s hotel owner/operators that are largest by having a profile of near to 5,000 visitor spaces operated under internationally recognized brands. Before becoming President, he led SilverBirch’s Investment & Portfolio Management group as Senior Vice President, where he handled every one of the company’s purchase, disposition, development and asset administration tasks. Before joining SilverBirch, Mr. Korol co-founded Amadeus Property Partners, an exclusive owning a home fund focused on investing in select-service resorts and retail and multi-family properties in gateway areas throughout the united states . He invested the formative section of their profession at Apollo Real Estate Advisors (now Ares Management), where he had been a Vice President centering on equity and financial obligation investing in most home kinds. Jonathan began their career that is professional as Investment Banker with Merrill Lynch. A B.Comm is held by him through the University of British Columbia as well as an MBA through the University of Pennsylvania’s Wharton class.
“Our company is excited to announce the appointment of Jonathan as ceo. He could be an experienced estate that is real with significant experience across the united states in all respects of hospitality properties and contains an extraordinary history of success on both edges regarding the edge,” noted Michael Murphy , seat of AHIP’s Board of Directors (the “Board”). Mr. Murphy proceeded, “Jonathan’s appointment had been unanimously supported by our Board. We think that their visit will speed up the execution associated with chapter that is next of’s strategic plan.”
As CEO, Mr. Korol will lead the professional team at AHIP and can utilize the Board to refine and meet AHIP’s strategic plan. Mr. Korol will even oversee and use AHIP’s interior asset administration and finance that is corporate to optimize the performance of AHIP’s current portfolio and determine suitable M&A and capital recycling methods to make certain AHIP maintains an optimal mixture of properties and money to push strong long-lasting value for AHIP’s unitholders. While Jonathan may be located in Vancouver , he can frequently be travelling to examine AHIP’s portfolio and also to meet with key partners also investors.
“I wish to thank the Board for supplying me personally with this particular unique possibility. We look ahead to working together with the Board and administration group in the next phase that is exciting of’s development,” stated Mr. Korol. He included, “I think that AHIP’s resort portfolio, having its give attention to premium branded select-service hotels in additional “drive to” areas, is one of the best positioned North American hospitality platforms to withstand and quickly get over the ongoing effects associated with the COVID-19 pandemic.”
Mr. Korol will be successful John O’Neill , certainly one of AHIP’s co-founders, that has been leader Officer since 2018 and who has advised the Board of his retirement october.
“We thank John for their strong leadership in the last couple of years, specially as AHIP navigated the unprecedented challenges faced by the U.S. resort industry in light associated with the COVID-19 pandemic over the last 6 months. He also effectively led the sale of AHIP’s Economy Lodging profile for $215.5 million therefore the redeployment that is concurrent of proceeds as a profile of 12 premium branded accommodations during second 2019 to re-shape and enhance the quality of our resort profile.
we shall miss John’s leadership and integrity but enjoy his support that is continued as of AHIP’s biggest unitholders,” stated Mr. Murphy.
“It ended up being an honour to lead AHIP within the last couple of years,” stated Mr. O’Neill. “we enjoy spending more hours with my loved ones in my own your your retirement and pursuing some brand new endeavors. I shall skip the AHIP that is amazing and Board, but continues to highly help AHIP and Mr. Korol, that is a great frontrunner, while he takes the organization ahead.” Mr. O’Neill included, “AHIP has certainly fared a lot better than numerous hospitality organizations in light associated with effects of COVID-19 and is well placed to be successful and develop in the foreseeable future. Since March, AHIP has restructured different of the financial obligation facilities and received covenant waivers on the majority of its loans. Within the last 2 months, AHIP in addition has gone back to aggregate occupancy amounts above 50% and it is yet again creating cash that is positive.”