Red Lion Hotels Corporation
Dec 7, 2011
PDF
Add to Briefcase

Red Lion Hotel Grants Opens for Business

Denver Southeast Property to be Listed for Sale

Spokane, WA, December 7, 2011 - Red Lion Hotels Corporation (NYSE: RLH) announced today it has rebranded the Red Lion Hotel Grants in New Mexico, making this the third hotel to join the brand in New Mexico in the last few weeks.

"Red Lion Hotels has been pleased with the support the company has received from all three of the communities in New Mexico where we now have franchise hotels," said Rich Carlson, Senior Vice President of Lodging Development for Red Lion Hotels Corporation. "These hotels serve as an enhancement to the Red Lion brand and our expansion into the Southwest."

The Red Lion Hotel Grants is located on the historic Route 66, about 80 miles west of Albuquerque. Grants is known for its proximity to ancient Anasazi ruins and for its outdoor recreation in the Zuni Mountains. The 126-room hotel located at 1501 E. Santa Fe Avenue was formerly the Best Western Inn & Suites of Grants.

The property is beneficially owned by Positive Investments, Inc., which also owns the Red Lion Hotel Farmington and the Red Lion Hotel Gallup in New Mexico and the Red Lion Hotel Oakland International Airport in California.

This property brings the total number of Red Lion franchised hotels to 17.

The company also announced today plans to list for sale in January the Red Lion Hotel Denver Southeast in Colorado with CBRE Hotels. The Red Lion Hotel Denver Southeast is a full-service property with 478 rooms and 25,000 square feet of meeting space. The timing is intended to be in advance of the Americas Lodging Investment Summit (ALIS) in Los Angeles January 23-25, 2012, where CBRE's representative, Chris Burdett, will be marketing the property.

In addition to Denver Southeast, Red Lion Hotels currently has three properties listed for sale including the Red Lion Colonial Hotel in Helena and the Red Lion Inn Missoula, both in Montana, and the Red Lion Hotel Medford in Oregon.

"Red Lion Hotels continues to expand its franchising network through the rebranding of independent hotels," said Jon E. Eliassen, President and Chief Executive Officer of Red Lion Hotels. "At the same time, we are selling properties that are not core to our ownership strategy, but expect that prospective buyers will want to maintain the Red Lion brand on selected properties."

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 LionĀ® brand. As of September 30, 2011, the RLH hotel network was comprised of 44 hotels located in eight states and one Canadian province, with 8,457 rooms and 424,387 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.