Operator: Good morning. And welcome to American Hotel Income Properties REIT LP's second quarter results conference call. Before beginning the call, AHIP would like to remind listeners that the following discussion will include forward looking information within the meaning of applicable Canadian securities laws. Which forward looking information is qualified by this statement? Comments that are not a statement of fact, including projections of future earnings, revenue, income, and FFO are considered forward looking. Participants on this call should not place undue reliance on such information, which is provided based on management's expectations and assumptions as of the date of this call. AHIP does not undertake any obligation to publicly update such information to reflect subsequent event or circumstances except as required by law. On this call, AHIP will discuss certain non IFRS financial measures. For the definition of these non IFRS financial measures, the most comparable IFRS financial measure and a reconciliation between the 2 please refer to the MD and A. References to prior year operating results are comparisons of AHIP's portfolio of 23 properties results in that period versus the same properties results today. All figures discussed on today's call are in US dollars unless otherwise indicated. Discussing AHIP's performance today are John Christopher O'Neill, chief executive officer Bruce Pittet, chief operating officer and Travis Beatty, chief financial officer. I will now turn the call over to John Christopher O'Neill, chief executive officer.

John Christopher O'Neill: Thank you, operator. And thank you all for joining us today for our second quarter financial results conference call. On May 4, 2026, AHIP announced that its board of directors has initiated a review of strategic alternatives to maximize unitholder value. This process is ongoing and includes the evaluation of a range of alternatives to increase unitholder value reduce debt, and improve our balance sheet. AHIP has made progress since the review was announced, but has not yet established a definitive timeline to complete this strategic review or any potential transaction. AHIP's board and management team continue to advance our plan to strengthen AHIP's financial position and preserve long term value for our unitholders by addressing upcoming obligations, with asset sales and loan refinancings. In 2025, AHIP completed the disposition of 18 hotel properties for total gross proceeds of $161 million. So far in 2026, AHIP has sold 8 hotel properties for total gross proceeds of 134 million. The dispositions completed in 2025 and 2026 have a blended cap rate of 7.6%. Demonstrating value beyond AHIP's current unit price for its current portfolio. AHIP currently has 4 additional hotel properties under purchase and sale agreements for estimated total gross proceeds of approximately $32 million at a blended cap rate of 4.6%, which are expected to close in Q3 of this year. AHIP has completed 2 loan refinancings in 2025 for total gross proceeds of $144 million and another refinancing in Q2 2026, for initial gross proceeds of $25 million. The net proceeds from these sales along with a portion of the proceeds from the loan refinancings, were used to repay the CMBS loans secured by those properties, a portion of the portfolio loan, and to redeem $25 million of the outstanding Series C shares. At the end of June 2026, AHIP had $21.5 million in cash. With closings of hotels currently under contract, the refinancing of an unencumbered property and additional planned hotel sales, AHIP plans to be in a position to redeem the remainder of the Series C shares and the convertible debentures in 2026. We believe that our units are currently trading below their underlying value based on AHIP's assets. In December 2025, the TSX approved AHIP's notice of intention to make a normal course issuer bid. The notice provides that AHIP may during the 12-month period commencing December 30, 2025 and ending December 29, 2026 purchase up to 6.8 million units representing 10% of the public float. So far, in 2026, AHIP has purchased over 700 thousand units under the 2026 NCIB at an average purchase price per unit of C$0.52. I will now turn the call over to Bruce to discuss second quarter hotel operations and then Travis will highlight key financial metrics. Bruce?

Bruce Pittet: Thank you, John. Good morning, everyone. AHIP's portfolio of premium branded select service hotel properties had a strong second quarter from a demand perspective. With RevPAR finishing at $116, which represents a 4.1% increase versus last year. Total revenue increased by $1.1 million for our portfolio of 23 assets. AHIP's portfolio has experienced year over year RevPAR growth for 5 consecutive months driven by improved corporate travel, recovering government demand, and strong retail segment performance. Revenue from leisure linked negotiated, and government segments, all grew year over year. by 5%, 3% and 5%, respectively. Spurred by a combination of performance recovery and market demand growth. Q2 2026 occupancy was 78.5% and was up 206 basis points compared to the same period in 2025. While year over year ADR growth was strong and up 1.3%, finishing at $147. For the quarter, the portfolio RevPAR index was 119. Up 3% year over year. We referenced 3 distinct segments of our business, extended stay, select service, our Embassy Suites hotels. During Q2 2026, extended stay continued to showcase year over year growth. With RevPAR finishing at $120, or up 2% compared to Q2 25. Select service segment had a strong quarter and achieved a RevPAR of $111. This represents a 3% growth over 2025 levels. Our loan Embassy Suites hotel had a RevPAR of $131, up 15% versus Q2 25. Margins continue to face pressure with costs outpacing revenue resulting in negative flow through. NOI margin decreased 146 basis points to 35% for the quarter compared to 2025. Cost escalations between rooms nonlabor and under undistributed expenses, particularly repairs and maintenance and utilities. Had a negative impact on Q2 results. Turning to AHIP's capital program. 2026 capital expenditures are estimated at $3.2 million for PIPs and $5 million in FF and E improvements. PIP expenditures have been revised down from prior estimate of 6.9 million mainly due to planned dispositions of certain hotels. Actual capital spend on PIPs and FF and E was 2.3 million and $1.7 million respectively. For the 6 months ended June 30, 2026. AHIP completed the renovation of the Fairfield South Hill, Virginia. And started the renovation of the Hampton Emporia, Virginia in the quarter. Preliminary July results for the AHIP 23 show occupancy of 80%, ADR of $156, and a RevPAR of $125. Up approximately 9% over July 2025 RevPAR levels. And with that update on our hotel operations, I will now turn the call over to Travis to highlight key financial and capital metrics for the second quarter. Travis?

D. Travis Beatty: Thank you, Bruce. Good morning. On a same store basis, Q2 2020 revenue was $26.7 million up 4.5% versus 2025. Diluted funds from operations, or FFO, was negative $0.01 for the quarter compared to diluted FFO of $0.06 for Q2 2025. At June 30, 2026, AHIP had an unrestricted cash balance of $21.5 million compared to 36.4 million at December 31, 2025. The decrease in cash is primarily due to the redemption of $25 million of the $50 million outstanding Series C shares. As at June 30, 2026, AHIP held a restricted cash balance of $14.5 million and had an additional $17.4 million available under the portfolio loans for capital improvements related to properties secured by these loans. Debt to gross book value was 51% at June 30, 2020 an increase of 240 basis points compared to December 2025. Debt-to-EBITDA as at June 30, 2026, was 8.9x, a decrease of 0.5x compared to December 31, 2025. On May 20, 2026, AHIP completed an interest only nonrecourse debt financing. The initial gross loan proceeds were $24.9 million secured against 3 hotel properties, with additional advances of up to $4.3 million available for renovations and improvements to these properties. 2 of the 3 hotels secured by the loan were previously unencumbered prior to the completion. AHIP used the initial net proceeds of the loan to fully repay a CMBS loan secured by 5 hotel properties and to increase AHIP cash balances. The loan has a 2-year term with the option to extend for 1 additional year subject to the satisfaction of certain conditions. The loan bears interest at SOFR plus 4.25% per annum. I will now turn the call back to John for some closing remarks.

John Christopher O'Neill: Thank you, Travis and Bruce. That concludes our remarks. Thank you again, everyone, for joining us on our call today. I look forward to speaking with you in November when we report our third quarter 2026 results. Thank you.

Operator: Thank you very much. This does conclude today's conference call. You may disconnect your phone lines at this time and have a wonderful day. We thank you for your participation.