DENVER, April 18, 2018 (GLOBE NEWSWIRE) -- RLH Corporation (NYSE:RLH) is seeing strong momentum in 2018 thus far with the addition of hotels in all segments. As the company focuses on franchise development, notable hotels have been added to key markets, including San Francisco; Monterrey, California; St. Louis; and San Antonio.
“As we begin the second quarter of 2018, our pipeline shows tremendous strength, as the company continues resilient focus on our franchise business,” said RLH Corporation Chief Development Officer Paul Sacco. “Our mid and upscale brands have now surpassed 100 hotels and we are continuing to see solid growth among our economy brands. We are focused on continuing to build on strong RevPAR through our guest management system, RevPak, and sustained returns to our hotel owners and stakeholders.”
Since the start of the year, RLH Corporation has signed franchise agreements for the company’s first refreshed Signature hotel in San Francisco; 10 agreements with hotels owned by affiliates of Inner Circle Investments and managed by Inner Circle Management; and retained franchise agreements on six sold properties including Bend, Oregon; Boise, Idaho; Pasco and Richland, Washington; and Redding and Eureka, California.
“This week we announced the sale of Red Lion Inn & Suites Bend, the company’s sixth of 11 hotels listed in the fall of 2017. We have made a major step in truly becoming an asset light company, with all sold hotels retaining franchise agreements with RLH Corporation, adding to the company’s momentum,” said RLH Corporation President and Chief Executive Officer Greg Mount. “We are committed to our franchise growth and anticipate the sale of these 11 hotels to significantly reduce or eliminate long-term debt, allowing us to increase cash reserves for future franchise agreement growth initiatives.”
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.
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