Red Lion Hotels Announces Plan for Strategic Sale of Two Hotel Properties (NYSE:RLH)

Red Lion Hotels Corporation RLH has announced plans to offer for sale its Red Lion Hotel Fifth Avenue, located in Seattle, and its Red Lion Hotel Denver Southeast. Red Lion plans to structure the Seattle transaction to continue the hotel's operation under the Red Lion brand, managed by Red Lion. "We are working with our financial advisor, CSCA Capital Advisors, as part of a strategic plan to enhance and expand the Red Lion brand, strengthen the company financially and increase shareholder value," said Jon E. Eliassen, President and Chief Executive Officer of Red Lion Hotels. "The sale of these properties will allow us to unlock real estate value through selective reduction of asset ownership. Proceeds will be used to restructure our balance sheet, including paying down debt."