Article: Washington-Based WestCoast Hospitality Plans to Buy Red Lion Chain from Hilton.

By Stephen H. Dunphy, The Seattle Times Knight Ridder/Tribune Business News

Oct. 19--WestCoast Hospitality, a Spokane-based hotel and entertainment company, yesterday signed a letter of intent to purchase the Red Lion Hotel chain, essentially doubling the size of WestCoast and putting the company into some key new markets.

WestCoast is buying the Red Lion hotels plus five DoubleTree hotels from Hilton Hotels, which had acquired the Red Lion brand as part of its November 1999 acquisition of Promus Hotel Corp.

The transaction, still subject to negotiation of a definitive agreement, is expected to close by the year's end. Financial terms of the ...

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