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Canadians Chase US Hotels
January 31, 2013
First we invaded their comedy clubs. Now Canadians are taking aim at US hotels. American Hotel Income Properties REIT has filed a preliminary prospectus for raising funds to snap up 32 properties in 19 states. "Theres just a greater opportunity to acquire assets in the US," says Bill Stone, CBRE's EVP hotels. "Its a deep market and the States is in major recovery mode from a hotel standpoint." AHIP can't speak with media during the IPO process, but we did suggest a new chain called Laugh Inn. But Bill says good things about AHIP CEO Rob O'Neill, with whom he's done business over the decades. "He helped found CHIP REIT [in 1997]. He's been a success."
