EX-99.1
2
d570606dex991.htm
EX-99.1
EX-99.1
Exhibit 99.1
RLH CORPORATION CLOSES SALE OF
RED LION INN & SUITES BEND FOR $5.5 MILLION
Company sells sixth hotel in 2018 boosting asset light strategy
DENVER (April 17, 2018)
-
RLH Corporation
(NYSE:RLH) announced today the sale of Red Lion Inn & Suites Bend for $5.5 million.
The hotel marks the sixth of 11 hotels being marketed for sale previously disclosed in October 2017. All hotels, including Red Lion Inn & Suites Bend have signed franchise license agreements to retain their RLH Corporation brand.
RLH Corporation's total gain on the sales is expected to be approximately $2 million, and $3.8 million of the proceeds of the sales were used
for debt repayment at the closing. Together with the other five previously announced sales, RLH Corporation's gain on sales is approximately $16 million.
"We are committed to our strategy we have outlined to become an asset light franchising company", said RLH Corporation President and Chief Executive
Officer Greg Mount. "So far in 2018 we have closed the sale on six of the 11 hotels we announced for sale in fall 2017. Each hotel has stayed in the RLH Corporation family of brands and will continue to drive return for the company".
Red Lion Inn & Suites Bend accounted for $2.6 million in revenue on an annual basis in 2017. The hotel's combined adjusted EBITDA on
consolidated reporting was $0.8 million and RLH Corporation's share of the adjusted EBITDA was approximately $0.4 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
investorrelations@rlhco.com
Media Contact:
Dan Schacter
Director, Social Engagement and Public Relations
509-777-6222
dan.schacter@rlhco.com

EX - 99 . 1 2 d570606dex991 . htm EX - 99 . 1 EX - 99 . 1 Exhibit 99 . 1 RLH CORPORATION CLOSES SALE OF RED LION INN & SUITES BEND FOR $ 5.5 MILLION Company sells sixth hotel in 2018 boosting asset light strategy DENVER ( April 17 , 2018 ) - RLH Corporation ( NYSE : RLH ) announced today the sale of Red Lion Inn & Suites Bend for $ 5.5 million . The hotel marks the sixth of 11 hotels being marketed for sale previously disclosed in October 2017 . All hotels , including Red Lion Inn & Suites Bend have signed franchise license agreements to retain their RLH Corporation brand . RLH Corporation 's total gain on the sales is expected to be approximately $ 2 million , and $ 3.8 million of the proceeds of the sales were used for debt repayment at the closing . Together with the other five previously announced sales , RLH Corporation 's gain on sales is approximately $ 16 million . " We are committed to our strategy we have outlined to become an asset light franchising company " , said RLH Corporation President and Chief Executive Officer Greg Mount . " So far in 2018 we have closed the sale on six of the 11 hotels we announced for sale in fall 2017 . Each hotel has stayed in the RLH Corporation family of brands and will continue to drive return for the company " . Red Lion Inn & Suites Bend accounted for $ 2.6 million in revenue on an annual basis in 2017 . The hotel ' s combined adjusted EBITDA on consolidated reporting was $ 0.8 million and RLH Corporation 's share of the adjusted EBITDA was approximately $ 0.4 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 do n ' 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 , 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