SPOKANE, Wash., Sept. 28, 2012 /PRNewswire/ -- Red Lion Hotels Corporation (NYSE: RLH) today announced the company has listed for sale the Red Lion Hotel Pendleton in Oregon.
"We have successfully sold three properties that, in turn, have resulted in three franchise agreements with the new owners," said Jon E. Eliassen, President and Chief Executive Officer of Red Lion Hotels Corporation. "The proceeds from previous and future property sales are used to reduce debt and improve the competitive position of our hotels to maximize shareholder value."
The Red Lion Hotel Pendleton was part of the purchase by the company in November 2011 of 10 previously-leased properties from iStar Financial. The hotel has 170 rooms and is located off of I-84, one mile from the city center and minutes from Pendleton Airport. Nearby attractions include the Pendleton Underground Tours, Pendleton Woolen Mills, the Umatilla Indian Reservation and Wildhorse Golf Course.
The property is listed with CBRE Hotels representative Chris Burdett, the agent responsible for the successful sale of Red Lion Hotel on Fifth Avenue in Seattle and the Red Lion Colonial Hotel in Helena, Montana.About Red Lion Hotels Corporation: Red Lion Hotels Corporation is a hospitality and leisure Company primarily engaged in the ownership, operation and franchising of midscale hotels under its Red Lion® brand. As of June 30, 2012, the RLH hotel network was comprised of 47 hotels located in nine states and one Canadian province, with 8,872 rooms and 443,587 square feet of meeting space. The Company also owns and operates an entertainment and event ticket distribution business. For more information, please visit the Company's website at www.redlion.com. Social Media www.Facebook.com/RedLionHotels www.Twitter.com/RedLionHotels www.YouTube.com/RedLionHotels Contact: Pam ScottRed Lion Hotels Corporation509-777-6393 (d)509-570-4610 (c) Pam.Scott@redlion.com www.RedLion.com SOURCE Red Lion Hotels Corporation
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV