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Bankruptcy Watch: 9 Risky Hotel Stocks


Red Lion Hotels (RLH - Get Report)

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Altman Z-Score, Trailing 12 Months: 0.96

Altman Z-Score, Last Fiscal Year: 0.84

Red Lion Hotels (RLH - Get Report)

Red Lion Hotels ranked with a troublesome Z-Score of 0.96 but the hotelier showed improvement over last year's score of 0.84.

The owner, operator and franchisor of midscale and upscale full service hotels under its namesake brand, recently voted to declassify its board of directors, meaning its board members will be up for election each year, rather than on a staggered schedule.

On May 5, Red Lion Hotels reported that total revenue was flat year-over-year at $34.3 million for its fiscal first quarter ended in March, even as net losses widened to $4.8 million, or 25 cents loss per share, from a year-ago loss of $3.4 million, or 18 cents per share.

Despite softer results, revPAR inched up 0.2% year-over-year, while ADR -- or average daily room rates -- ticked up 0.3%.

Management said sluggish group booking led to its quarterly losses.

In an effort to recapitalize its balance sheet, Red Lion Hotels has made moves to sell some of its hotel properties, including its Seattle Fifth Avenue hotel to an affiliate of Lowe Enterprises and its management company, Destination Hotels & Resorts, which will operate the hotel under a franchise agreement with Red Lion.


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