Nvidia Eyes $2.5 Billion Investment in Thinking Machines Lab 
Tesla Cybercab Rides Launch in Austin as NHTSA Reviews Rollout 
OpenAI Rejects Apple Trade Secret Theft Claims 
Tesla Cybercab Launch Puts Robotaxi Ambitions in Focus 
Fast Retailing Shares Drop as Uniqlo Japan August Sales Fall 
US Tech Giants’ AI Bond Boom Raises Euro Zone Borrowing Risks 
ByteDance Secures $29.6 Billion Loan to Boost AI Investment 
Berkshire Hathaway Eyes Bigger Stakes in Japan’s Top Trading Houses 
OpenAI Launches GPT-6 Astra With Advanced AI Agent Capabilities 
Deutsche Telekom Shares Rise as Elliott Pushes Against T-Mobile Merger 
Shein Shares Drop 5% After Weak Hong Kong IPO Debut 
Milei Threatens Falkland Oil Firms With Sanctions 
Qantas Near-Miss Raises Sydney Air Traffic Controller Fatigue Concerns 
Anthropic Nears $15 Billion Credit Deal Ahead of IPO 
CATL Shares Fall as Hungary Plant Faces Safety Halt 
Honda Targets $9.4 Billion in Cost Cuts as China EV Competition Intensifies 
Thomson Reuters C-Track Cyberattack Hits Courts Across U.S. and Canada 
Add as a preferred source on Google
DENVER, March 06, 2018 -- RLH Corporation (NYSE:RLH) announced today the sale of Red Lion Hotels in Boise, Idaho; and Pasco and Richland, Washington for $29.9 million. The three hotels are in addition to the sale of two hotels in California announced last week for $17.4 million. All buyers signed franchise license agreements to retain the Red Lion Hotels brand.
RLH Corporation’s total gain on the sales is expected to be approximately $8.0 million, and $22.8 million of the proceeds of the sales were used for debt repayment at the closing.
“We are pleased to announce the close on the sale of the next three of the 11 hotels we have listed,” said RLH Corporation President and Chief Executive Officer Greg Mount. “The sale of these five properties over the last week is a major step in becoming an asset light company. This effort requires less capital to grow and will provide higher profit margins.”
Together with the Redding and Eureka Red Lion Hotels announced last week, the five properties accounted for $26.6 million combined revenue on an annual basis for 2017. The hotels’ combined adjusted EBITDA on consolidated reporting was $4.7 million and RLH Corporation’s share of the adjusted EBITDA was approximately $2.6 million 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. We don’t wait for the future. We create it.
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]
