SPOKANE, Wash., Feb. 2, 2015 (GLOBE NEWSWIRE) -- RLHC (Red Lion Hotels Corporation) (NYSE:RLH) announced the company has sold the Red Lion Hotel Wenatchee in Washington. The new owners, who also own a second property in the RLHC network, entered into a franchise license agreement and will further invest in the property to improve the guest experience.
"The Red Lion Wenatchee hotel is well-known in this region and we feel it's important to continue to operate the hotel under the same brand," said Gurbir Sandhu of Edge Hospitality Corp., owners of the Wenatchee hotel. Sandhu is also principal of the entity that owns the Red Lion Hotel Columbia Center in Kennewick, Washington.
The new owners of the Red Lion Hotel Wenatchee, 1225 N. Wenatchee Ave., have planned improvements to the 149 guest rooms, public spaces and the exterior. The property, which sold for $4.1 million, is the final of six hotels the company announced it listed for sale in November 2013.
"In each case, the owners have put their confidence in the Red Lion name by signing franchise license agreements to retain the RLHC branding and the improvements these owners are making will be of benefit to our guests," said RLHC President & CEO Greg Mount. "Additionally, in every case we closed at a price we felt was at or above market, driving value for our shareholders."
Red Lion Hotels Corporation is a hospitality company primarily engaged in the franchising, ownership and operation of midscale and upscale hotels. Established in 1959, the company has more than 50 hotels system wide and also owns and operates an entertainment and event ticket distribution business. For more information, please visit the company's website at www.redlion.com.
Source:Red Lion Hotels Corporation