April 25, 2013 at 17:42 PM EDT
Red Lion Hotels Sells Commercial Mall in Kalispell, Montana; Leases Kalispell Hotel

SPOKANE, Wash., April 25, 2013 /PRNewswire/ -- Red Lion Hotels Corporation (NYSE: RLH) today announced it has sold for $11.6 million the Kalispell Center Mall in Montana to WSPGB Mall, LLC, an affiliate of Woodbury Strategic Partners and Goodale & Barbieri Company.  As part of the agreement, the company has entered into a long term lease to continue to operate the attached Red Lion Hotel Kalispell.

(Photo: http://photos.prnewswire.com/prnh/20130425/SF01172)

"The sale of the Kalispell Center Mall allows us to access the value from this asset to pay down debt and invest in our owned hotels," said Jon E. Eliassen, President and Chief Executive Officer of Red Lion Hotels Corporation. "We are happy with the opportunity to continue to operate our hotel in Kalispell. This market has been, and will continue to be, important to Red Lion for many years."

The sale of the Kalispell Center Mall completes the company's disposition of non-hotel operating assets. Located at 20 N Main St, the mall was built in 1986 with the attached hotel. The development brought national department stores such as JC Penney and Herberger's, which remain there today. The property manager, Goodale & Barbieri, will continue to manage the property for the new ownership group.

The Red Lion Hotel Kalispell is a 170-room property situated adjacent to the historic downtown. The hotel has a wood-burning rock fireplace, an outdoor courtyard with a fire pit and whirlpool, a renovated solarium with an indoor pool and over 10,000 square feet of meeting space.

About Red Lion Hotels Corporation:
Red Lion Hotels Corporation is a hospitality company primarily engaged in the franchising, ownership and operation of hotels located in nine states and one Canadian province. As of April 4, 2013, the company has 51 hotels system wide. The Red Lion Hotels and Red Lion Inn & Suites network is comprised of 50 hotels with 8,926 rooms and 470,387 square feet of meeting space. The Leo Hotel Collection is comprised of one hotel with 2,956 rooms and 220,000 square feet of meeting space. The Company also owns and operates an entertainment and event ticket distribution business. For more information, please visit the Company's website at www.redlion.com.

Social Media
www.Facebook.com/RedLionHotels
www.Twitter.com/RedLionHotels
www.YouTube.com/RedLionHotels

Contact: Pam Scott
Red Lion Hotels Corporation
509-777-6393 (d)
509-570-4610 (c)
Pam.Scott@redlion.com
www.RedLion.com

SOURCE Red Lion Hotels Corporation

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here