RLH Corporation Closes Sale of Red Lion Inn & Suites Bend for $5.5 Million

RLH Corporation | April 19, 2018

DENVER (April 19, 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 of sales is appro...