Remember the old song, "I've been working on the railroad, all the live-long day?" Have you ever wondered where those railroad workers go at the end of the live-long day? This company reported record earnings in its most recent quarter. Revenue grew 54%, and EBITDA grew 58%. It pays its monthly distributions in US dollars. It also has a unique revenue stream that supports its distributions.
American Hotel Income Properties REIT LP (OTC:AHOTF) has a deal with the railroads that guarantees the revenue from 72% of its "rail crew" hotel rooms. Unlike its competitors, who are 100% exposed to the whims of the consumer, AHIP has a substantial railroad customer base, which partially insulates it from ups and downs of its market. Here's another kicker - these are long-term contracts, with 4.3 years remaining on them. Although it's an LP based in Canada, AHIP's assets are primarily US-based. In addition to its railway hotels, AHIP also owns transportation-oriented, select-service and limited-service hotel portfolios, located in secondary and tertiary markets in the United States. These hotels are in close proximity to railroads, airports, highway interchanges, and other transportation hubs and stable demand generators.
Source: Seeking Alpha
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