American Hotel Income Properties REIT LP (AHIP) has announced a significant change in its top leadership. The company, which trades on the TSX under the symbols HOT.UN, HOT.U, and HOT.DB.V, confirmed the appointment of co-founder John O’Neill as its new Chief Executive Officer, effective immediately.

The decision follows the acceptance of Jonathan Korol’s resignation as CEO. Mr. Korol stepped down to pursue other opportunities, according to the announcement made on December 11, 2025.

In commenting on the appointment, Charles van der Lee, Chair of AHIP, expressed full confidence in the returning leader. Mr. van der Lee stated, “John O’Neill’s industry insight and history with AHIP as co-founder and CEO, uniquely position him to seamlessly step into this role. We look forward to having John leading the company moving forward.”

Mr. O’Neill, having previously served the company, shared his commitment to the firm’s future direction. “I am honoured to step back in and lead AHIP at this important juncture,” said Mr. O’Neill. He also outlined his immediate priorities. “Working closely with the Board, we will focus on driving value for our unitholders. AHIP is in a strong position to move forward into the future.”

The Board also took the opportunity to acknowledge the outgoing CEO’s contributions. Mr. van der Lee added, “On behalf of the Board, I want to thank Jonathan for his good work and steady leadership, and we wish him continued success in his future endeavours.” The change in leadership marks a return for Mr. O’Neill to the helm of the hotel-focused real estate firm.

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. AHIP’s long-term objectives are to increase the value of its hotel properties through operating excellence, active asset management and value-adding capital expenditures, and to increase unitholder value and distributions to unitholders. More information is available at www.ahipreit.com.