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Article: WestCoast: thinking big. (Global update: profile).(WestCoast Hospitality acquires hotel chain)(Brief Article)
- Article from:
- Hotels
- Article date:
- April 1, 2002
CopyrightCOPYRIGHT 2002 Reed Business Information, Inc. (US). 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, WASHINGTON Most U.S.-based hotel chains had no time for deal making in the nightmarish fourth quarter of 2001. Spokane-based WestCoast Hospitality made time. Building on the October 2001 launch of its franchising program, WestCoast doubled its size with the US$51 million purchase of Red Lion Hotels and Inns from Hilton Hotels Corp. The deal added 41 hotels and 34 markets to expand WestCoast's portfolio to 93 hotels in 16 states.
"We have always found opportunities in down cycles. When we saw this downturn coming, we accelerated," says Donald Barbieri, the chairman, president and CEO who piloted the transition of Cavanaughs Hospitality into WestCoast ...