SPOKANE, Wash., Jan. 12, 2015 (GLOBE NEWSWIRE) -- RLHC (Red Lion Hotels Corporation) (NYSE:RLH) announced the company has entered into an agreement to sell its hotel in Bellevue, Wash. for $35.4 million to an affiliate of Wig Properties, a property development company based in Bellevue. Wig Properties has entered into a multi-year management agreement with Red Lion Hotels Management, Inc., under which the hotel will continue to operate as the Red Lion Hotel Bellevue. The deal on the property is expected to close in early February 2015, subject to customary terms and conditions.
Constructed in 1969, the two-story Red Lion Hotel Bellevue, 11211 Main Street, resides on six acres along the I-405 corridor and has 181 rooms and 5,700 sq. ft. of meeting space. RLHC announced in July 2014 the company was listing the hotel for sale with commercial real estate firm Kidder Mathews.About RLHC: Red Lion Hotels Corporation is a hospitality company primarily engaged in the franchising, ownership and operation of midscale and upscale hotels. Established in 1959, the company has more than 50 hotels system wide and 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.Instagram.com/RedLionHotels www.LinkedIn.com/company/red-lion-hotels
CONTACT: Company Contact Pam Scott Red Lion Hotels Corporation 509-777-6393 (d) 509-570-4610 (c) Pam.Scott@redlion.com www.RedLion.com