Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Samsung Electronics Shares Jump on HBM4 Mass Production Report 
SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Hims & Hers Halts Compounded Semaglutide Pill After FDA Warning 
Kroger Set to Name Former Walmart Executive Greg Foran as Next CEO 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Anta Sports Expands Global Footprint With Strategic Puma Stake 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
DBS Expects Slight Dip in 2026 Net Profit After Q4 Earnings Miss on Lower Interest Margins 
Taiwan Says Moving 40% of Semiconductor Production to the U.S. Is Impossible 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
DENVER, Feb. 27, 2018 -- RLH Corporation (NYSE:RLH) announced today the sale of Red Lion Hotels in Redding and Eureka, California for $17.35 million. The two hotels are part of the 11 hotels being marketed for sale previously disclosed in October 2017 and are being sold to affiliates of the same buyer.
The buyer will continue to operate the hotels under the Red Lion Hotel brand in addition to an 80-room hotel in Monterey, California converting to a Red Lion this summer.
RLH Corporation’s total gain on the sales is expected to be over $6.0 million and $15.3 million of the proceeds of the sales were used for debt repayment at the closing.
“We are excited to close on the sale of the first two of the 11 hotels we have listed,” said RLH Corporation President and Chief Executive Officer Greg Mount. “Because of these sales, the company's real estate-specific costs of interest, depreciation and amortization will be reduced. We anticipate that as we close on additional hotel sales, the elimination of real estate costs will enhance our ability to generate positive EPS in the future.”
The Redding and Eureka hotels accounted for $9.6 million combined revenue on an annual basis for 2017. The hotels’ combined adjusted EBITDA on consolidated reporting was $1.6 million and RLH Corporation’s share of the adjusted EBITDA was approximately $860,000 for 2017. This impact does not take into account the previously announced corporate overhead adjustments to reduce operating costs.
To learn more about franchising with RLH Corporation, visit franchise.rlhco.com.
About RLH Corporation
Red Lion Hotels Corporation is an innovative hotel company doing business as RLH Corporation and focuses on the franchising, management and ownership of upscale, midscale and economy hotels. The company focuses on maximizing return on invested capital for hotel owners across North America through relevant brands, industry-leading technology and forward-thinking services. For more information, please visit the company's website at www.rlhco.com.
Social Media:
www.Facebook.com/myhellorewards
www.Twitter.com/myhellorewards
www.Instagram.com/myhellorewards
www.Linkedin.com/company/rlhco
Investor Relations Contact:
Amy Koch
O: 509-777-6417
C: 917-579-5012
[email protected]
Media Contact:
Dan Schacter
Director, Social Engagement and Public Relations
509-777-6222
[email protected]
