American Hotel Income Properties (AHIP) REIT LP has named Travis Beatty as its CFO effective June 7.
Beatty is a strong organizational leader with a proven track record in the public REIT space as well as within the broader Canadian financial community, making him the ideal candidate to assume the role of CFO, according to the company.
He was previously CFO of Northview Apartment REIT—a public REIT focused on owning and managing multi-family residential units across Canada—from 2016 to 2020. During his tenure, Northview grew by $1.5 billion in book value with a portfolio of 26,500 units prior to being sold to Starlight Group Property Holdings Inc. and KingSett Capital Inc. for $4.9 billion in the fourth quarter of 2020 at an all-time high unit price.
Prior to Northview, Beatty spent a number of years at OPTI Canada Inc., an energy infrastructure company designed to commercialize an upgrading technology. OPTI underwent a significant growth period followed by a series of complex financial transactions through the global financial crisis, ultimately leading to its sale in 2011 for $2.1 billion, which he oversaw as OPTI’s CFO.
“I am pleased to welcome Travis to our leadership team,” said Jonathan Korol, CEO, AHIP. “His extensive experience in leading the financial operations of real estate and energy infrastructure businesses—as well as driving strategic value for stakeholders—will make an immediate impact as we continue to position AHIP for the future. Travis is an excellent addition to the AHIP team.”
Beatty added, “I look forward to working with AHIP’s management team on the next phase of AHIP’s evolution. AHIP is among the best positioned North American hospitality platforms demonstrated by its ability to withstand and recover from the COVID-19 pandemic. I am very excited to be a part of AHIP’s next chapter as we seek to grow its footprint of premium-branded select-service hotel properties in the U.S.”
As CFO, Beatty will lead AHIP’s finance and accounting group and will be responsible for accounting, treasury, financial planning and analysis, tax and investor relations.