EX-99.1
2
d529777dex991.htm
EX-99.1
EX-99.1
Exhibit 99.1
RLH CORPORATION ANNOUNCES SALE OF TWO HOTELS FOR $17.35 MILLION
Red Lion Hotels in Redding and Eureka, California to retain brand
DENVER (February 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
investorrelations@rlhco.com
Media Contact:
Dan Schacter
Director, Social Engagement and Public Relations
509-777-6222
dan.schacter@rlhco.com

EX - 99 . 1 2 d529777dex991 . htm EX - 99 . 1 EX - 99 . 1 Exhibit 99 . 1 RLH CORPORATION ANNOUNCES SALE OF TWO HOTELS FOR $ 17.35 MILLION Red Lion Hotels in Redding and Eureka , California to retain brand DENVER ( February 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 , mid scale 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 investorrelations@rlhco.com Media Contact : Dan Schacter Director , Social Engagement and Public Relations 509 - 777 - 6222 dan.schacter@rlhco.com
O O O O O O O O O O O O O O O O O O O O O O O B-Parties.SELLING_COMPANY I-Parties.SELLING_COMPANY O O O O O O O O O O O O O O O O O O O O O O O O O O O O B-Parties.SELLING_COMPANY I-Parties.SELLING_COMPANY O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B-Generic_Info.ANNUAL_REVENUES I-Generic_Info.ANNUAL_REVENUES O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O