Red Lion Hotels Corp. has hung “For sale” signs on its Denver and Seattle properties as it shifts to a more franchise-based network, President Jon Elliasen said Tuesday.
But he said the company plans to retain management responsibilities for the 297-room Red Lion Hotel Fifth Avenue in Seattle, which will also keep the Spokane-based chain’s brand.
“It’s an important site for us,” he said.
Sale of the hotel was timed, in part, to coincide with a previously announced effort to sell its hotel in southeast Denver, Eliassen said.
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Showing posts with label Red Lion. Show all posts
Showing posts with label Red Lion. Show all posts
Wednesday, January 19, 2011
Thursday, November 4, 2010
Red Lion Hotels Reports Third Quarter 2010 Results
SPOKANE, Wash., Nov. 4, 2010 /PRNewswire via COMTEX/ -- Red Lion Hotels Corporation /quotes/comstock/13*!rlh/quotes/nls/rlh (RLH 7.96, +0.03, +0.33%) , a western U.S.-based owner and franchisor of midscale hotels, today announced its results for the third quarter ended September 30, 2010.
Overview: Third quarter RevPAR for owned and leased hotels increased 8.3% year-over-year; RevPAR up 3.9% year-to-date
ADR at owned and leased hotels up 5.8%, outpacing U.S. trends
EBITDA from continuing operations declined $0.3 million to $12.4 million while hotel operating margin was 31.5%, reflecting costs of growth initiatives
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Thursday, August 5, 2010
Red Lion Hotels Reports Second Quarter 2010 Results
RevPAR for owned and leased hotels declined 1.8% year-over-year
ADR at owned and leased hotels up 0.2%; occupancy down 1.2 points
ADR performance up 2.4% against competitive set
EBITDA decreased $2.3 million, impacted primarily by:
Investments in direct sales and franchise development activities
Non-recurring franchise termination settlement in 2009
Closed hotel in Astoria, Oregon
Reduction in group business and competitive rate pressures
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ADR at owned and leased hotels up 0.2%; occupancy down 1.2 points
ADR performance up 2.4% against competitive set
EBITDA decreased $2.3 million, impacted primarily by:
Investments in direct sales and franchise development activities
Non-recurring franchise termination settlement in 2009
Closed hotel in Astoria, Oregon
Reduction in group business and competitive rate pressures
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Thursday, May 6, 2010
Red Lion Hotels Reports First Quarter 2010 Results
SPOKANE, WA, May 5, 2010 - Red Lion Hotels Corporation (NYSE: RLH), a western U.S.-based owner and franchisor of midscale hotels, today announced its results for the first quarter ended March 31, 2010.
Highlights:
RevPAR for owned and leased hotels increased 4.9% year-over-year driven by sales initiatives
ADR held steady year-over-year in spite of industry rate discounting
Occupancy increased 220 basis points year-over-year in the first quarter
EBITDA before special items was in-line with the prior year
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Highlights:
RevPAR for owned and leased hotels increased 4.9% year-over-year driven by sales initiatives
ADR held steady year-over-year in spite of industry rate discounting
Occupancy increased 220 basis points year-over-year in the first quarter
EBITDA before special items was in-line with the prior year
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Tuesday, February 16, 2010
Red Lion Hotels Reports Fourth Quarter and Full Year 2009 Results
SPOKANE, WA, February 16, 2010 - Red Lion Hotels Corporation (NYSE: RLH), a western U.S.-based owner of midscale and upscale hotels, today announced its results for the fourth quarter and full year ended December 31, 2009.
Highlights:
•Fourth quarter RevPAR for owned and leased hotels decreased 7.2%, a sign of slowing RevPAR declines
•Fourth quarter occupancy held steady year-over-year
•2009 EBITDA was $27.6 million before special items, down $3.8 million year-over-year despite a $22.2 million revenue decline
•The Company completed amendments to its credit facility that modified covenants and increased financial flexibility
•The Company recognized an impairment charge of $8.7 million
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Highlights:
•Fourth quarter RevPAR for owned and leased hotels decreased 7.2%, a sign of slowing RevPAR declines
•Fourth quarter occupancy held steady year-over-year
•2009 EBITDA was $27.6 million before special items, down $3.8 million year-over-year despite a $22.2 million revenue decline
•The Company completed amendments to its credit facility that modified covenants and increased financial flexibility
•The Company recognized an impairment charge of $8.7 million
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Friday, January 15, 2010
Red Lion names interim president, CEO
Red Lion Hotels Corp. on Thursday announced that President and CEO Anupam Narayan has left the company.
The company did not give any details, saying only that his employment ended on Jan. 13.
In the meantime, Jon Eliassen, the lead independent director on the company’s board, has been appointed interim president and CEO
The company did not give any details, saying only that his employment ended on Jan. 13.
In the meantime, Jon Eliassen, the lead independent director on the company’s board, has been appointed interim president and CEO
Thursday, August 6, 2009
Red Lion Reports Second Quarter 2009 Results
Red Lion's total revenue during the second quarter of 2009 was $44.9 million, compared to $49.8 million for the prior-year period. Revenue from hotels was $41.0 million, down 12.3% from the second quarter of 2008, due primarily to the weak economic and industry environment.
RevPAR for owned and leased hotels on a comparable basis for the second quarter of 2009 was down 12.6%, due to a 590 basis point decrease in occupancy and a 4.3% decrease in ADR. Despite the lower revenues, hotel direct operating margin for the quarter was 30.1%, an increase of 170 basis points from the prior-year period. System-wide RevPAR (which includes franchised hotels) on a comparable basis for the quarter decreased 12.4%, caused by a 620 basis point decrease in occupancy and a 3.2% decrease in ADR.
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http://investor.shareholder.com/rlhcorp/?header=redlion
RevPAR for owned and leased hotels on a comparable basis for the second quarter of 2009 was down 12.6%, due to a 590 basis point decrease in occupancy and a 4.3% decrease in ADR. Despite the lower revenues, hotel direct operating margin for the quarter was 30.1%, an increase of 170 basis points from the prior-year period. System-wide RevPAR (which includes franchised hotels) on a comparable basis for the quarter decreased 12.4%, caused by a 620 basis point decrease in occupancy and a 3.2% decrease in ADR.
Read more:
http://investor.shareholder.com/rlhcorp/?header=redlion
Friday, May 8, 2009
Red Lion Reports First Quarter 2009 Results
Red Lion’s total revenue during the first quarter of 2009 was $34.3 million, compared to $39.6 million for the prior-year period. Revenue from hotels was $30.8 million, down 12.6% from the first quarter of 2008, primarily due to the weak economic and industry environment.
On a comparable basis, ADR declined 4.0%, while occupancy fell 660 basis points, resulting in a decline in RevPAR of 15.9%. Despite the lower revenues, hotel direct operating margin for the quarter was 14.3% — only 60 basis points lower than the prior-year period. System-wide RevPAR (which includes franchised hotels) on a comparable basis for the quarter decreased 12.7%, caused by a 520 basis point decrease in occupancy and a 3.0% decrease in ADR.
Franchise and management revenue was $0.3 million, or $0.1 million lower than the prior-year period due to a lower number of franchisees in the system. Entertainment revenue was $2.5 million, a decrease of $0.7 million compared to the same quarter in 2008.
EBITDA for the first quarter of 2009 was $2.2 million, compared to $3.2 million for the first quarter of 2008 before a one-time expense for separation costs. The company’s net loss was $2.9 million, compared to a net loss of $2.2 million for the prior-year period before the one-time expense for separation costs. Loss per share was $0.16, compared to a loss of $0.12 per share for the first quarter of 2008 before the one-time expense for separation costs.
On a comparable basis, ADR declined 4.0%, while occupancy fell 660 basis points, resulting in a decline in RevPAR of 15.9%. Despite the lower revenues, hotel direct operating margin for the quarter was 14.3% — only 60 basis points lower than the prior-year period. System-wide RevPAR (which includes franchised hotels) on a comparable basis for the quarter decreased 12.7%, caused by a 520 basis point decrease in occupancy and a 3.0% decrease in ADR.
Franchise and management revenue was $0.3 million, or $0.1 million lower than the prior-year period due to a lower number of franchisees in the system. Entertainment revenue was $2.5 million, a decrease of $0.7 million compared to the same quarter in 2008.
EBITDA for the first quarter of 2009 was $2.2 million, compared to $3.2 million for the first quarter of 2008 before a one-time expense for separation costs. The company’s net loss was $2.9 million, compared to a net loss of $2.2 million for the prior-year period before the one-time expense for separation costs. Loss per share was $0.16, compared to a loss of $0.12 per share for the first quarter of 2008 before the one-time expense for separation costs.
