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Article: Red Lion Hotels Corporation Updates Status of Asset Sales.
- Article from:
- PR Newswire
- Article date:
- September 28, 2005
CopyrightCOPYRIGHT 2005 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SPOKANE, Wash., Sept. 28 /PRNewswire-FirstCall/ -- Red Lion Hotels Corporation today announced that it has completed the sales of five hotel properties and has purchase agreements in place for two hotels and the Crescent Court commercial complex. It also announced that it has accepted letters of intent for the purchase of two hotels.
The transactions are part of the Red Lion's reinvestment plan, announced in November 2004, which identified 11 non-core hotel properties and a commercial office building that would be sold in order to fund a $40 million facility improvement program designed to rejuvenate and revitalize the Red Lion brand. This program is one of ...