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Article: WestCoast Hospitality Announces Acquisition of Red Lion Hotel Chain and Two Doubletree Hotel Properties from Hilton Hotels.
- Article from:
- PR Newswire
- Article date:
- January 2, 2002
CopyrightCOPYRIGHT 2002 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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BEVERLY HILLS, Calif., and SPOKANE, Wash. -- WestCoast Hospitality Corporation , owner, manager and franchisor of full-service hotel properties in the Western United States, announced today its acquisition of all of the capital stock of Red Lion Hotels, Inc. from Hilton Hotels Corporation , one of the world's premier owners and operators of hotel properties. The total consideration paid was approximately $50.6 million.
Red Lion's hotel portfolio consists of eight owned Red Lion hotel properties, 11 leased Red Lion hotel properties, 22 franchised Red Lion hotel properties, one owned Doubletree hotel property located in Pasco, Washington, (279 rooms), and one ...