American Hotel Income Properties REIT LP announced the acquisition of its previously announced 24-room expansion at the existing, high occupancy, 116-room Oak Tree Inn hotel and Penny's Diner located in Hearne, Texas for a total purchase price of USD 2.4 million. AHIP announced that due to other personal commitments, Mr. Peter Armstrong has notified the Board of his intention not to seek re-election as a director at AHIP's upcoming annual and special meeting to be held on May 12, 2016. AHIP also announced that upon the recommendation of the Nominating and Governance Committee, the Board has nominated Mr. Charles (Chuck) W. van der Lee to stand for election at the Annual Meeting along with the incumbent Board members. Mr. van der Lee is currently the principal owner, President and Chief Executive Officer of Papa M Pizza Canada Inc. From May 1990 to September 2009, Mr. van der Lee served as President and Chief Executive Officer of Rogers Retail (a division of Rogers Communications Inc.) and during his tenure he was
responsible for expanding the network of company stores from 33 to over 400 locations. From 2004 to 2015, Mr. Van der Lee also served as an independent director of Amica Mature Lifestyles Inc. culminating in the successful sale of this company in late 2015.