United states Resort Income Characteristics REIT LP Announces Appointment of Jonathan Korol as Brand Brand New CEO

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United states Resort Income Characteristics REIT LP Announces Appointment of Jonathan Korol as Brand Brand New CEO

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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 best prospect to assume the role of CEO.

Mr. Korol involves their role that is new from Hotels & Resorts («SilverBirch»), where he has got been President since February 2017

At SilverBirch, Jonathan oversaw one of Canada’s biggest hotel owner/operators by having a profile of near to 5,000 visitor rooms operated under internationally recognized brands. Before becoming President, he led SilverBirch’s Investment & Portfolio Management group as Senior Vice President, where he handled most of the company’s acquisition, disposition, development and asset management tasks. A private real estate investment fund focused on investing in select-service hotels and retail and multi-family properties in gateway markets throughout North America before joining SilverBirch, Mr. Korol co-founded Amadeus Property Partners . He spent the formative section of their job at Apollo Real Estate Advisors (now Ares Management), where he had been a Vice President concentrating on equity and financial obligation investing in most property kinds. Jonathan began their expert profession being an Investment Banker with Merrill Lynch. A B.Comm is held by him through the University of British Columbia plus an MBA through the University of Pennsylvania’s Wharton class.

«we have been excited to announce the visit of Jonathan as ceo. He could be a seasoned real-estate expert with significant experience across the united states in all respects of hospitality properties and has now an extraordinary history of success on both edges associated with edge,» noted Michael Murphy , seat of AHIP’s Board of Directors (the «Board»). Mr. Murphy proceeded, «Jonathan’s appointment had been unanimously sustained by our Board. We genuinely believe that his visit will speed up the execution of this chapter that is next of’s strategic plan.»

As CEO, Mr. Korol will lead the administrator team at AHIP and certainly will make use of 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 increase the performance of AHIP’s current profile and recognize suitable M&A and capital recycling techniques to make sure AHIP maintains an optimal mixture of properties and money to operate a vehicle strong long-lasting value for AHIP’s unitholders. While Jonathan will likely to be located in Vancouver , he can be travelling often to examine AHIP’s profile and also to talk with key partners in addition to investors.

«I wish to thank the Board for providing me personally with this particular unique possibility. We anticipate dealing with the Board and administration group from the next exciting period of AHIP’s development,» stated Mr. Korol. He included, «I think that AHIP’s resort profile, along with its give attention to premium branded select-service hotels in additional «drive to» areas, is amongst the best positioned North American hospitality platforms to withstand and quickly cure the ongoing effects for 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 October 2018 and that has encouraged the Board of their your retirement.

«We thank John for their strong leadership within the last two years, especially as AHIP navigated the unprecedented challenges faced because of the U.S. resort industry in light associated with pandemic that is COVID-19 the last 6 months. He also effectively led the sale of AHIP’s Economy Lodging profile for $215.5 million plus the concurrent redeployment of these profits as a profile of 12 premium branded resort hotels during second 2019 to re-shape and enhance the quality of y our resort profile.

we shall miss John’s leadership and integrity but look ahead to their continued help as one of AHIP’s biggest unitholders,» stated Mr. Murphy.

«It ended up being an honour to lead AHIP within the last couple of years,» said Mr. O’Neill. «I anticipate spending additional time with my children in my own your your retirement and pursuing some endeavors that are new. I shall miss out the amazing AHIP group and Board, right here but continues to strongly help AHIP and Mr. Korol, who’s an outstanding leader, while he takes the business ahead.» Mr. O’Neill included, «AHIP has certainly fared much better than numerous hospitality organizations in light of this effects of COVID-19 and is well placed to be successful and develop as time goes by. Since March, AHIP has restructured various of its financial obligation facilities and received waivers that are covenant the majority of its loans. Within the last two months, AHIP in addition has came back to aggregate occupancy amounts above 50% and it is yet again creating good money flows.»

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