EX-99.1
2
d528635dex991.htm
EX-99.1
EX-99.1
Exhibit 99.1
RLH CORPORATION CLOSES SALE OF THREE
ADDITIONAL HOTELS FOR $29.9 MILLION
Red Lion Hotels in Boise, Idaho; and Pasco and Richland, Washington to retain brand
DENVER (March 6, 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
investorrelations@rlhco.com
Media Contact:
Dan Schacter
Director, Social Engagement and Public Relations
509-777-6222
dan.schacter@rlhco.com

EX - 99 . 1 2 d528635dex991 . htm EX - 99 . 1 EX - 99 . 1 Exhibit 99 . 1 RLH CORPORATION CLOSES SALE OF THREE ADDITIONAL HOTELS FOR $ 29.9 MILLION Red Lion Hotels in Boise , Idaho ; and Pasco and Richland , Washington to retain brand DENVER ( March 6 , 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 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