RLH Completes Sale of Red Lion Hotel Atlanta Airport for $12.25 Million
November 18 2019 - 4:15PM
RLH Corporation (NYSE:RLH) announced that it has closed on the sale
of its Red Lion Airport Hotel Atlanta for $12.25 million in gross
proceeds.
The Red Lion Airport Hotel Atlanta was held in a
joint venture. RLH Corporation will receive $4.8 million in net
proceeds after closing costs and the repayment of property level
mortgage. Net proceeds to RLH will be primarily used to
reduce corporate level debt.
There are an additional three hotels that are
under non-binding contract to be sold. It is the Company’s
expectation the hotel sales will be completed by the end of Q1
2020.
About RLH
CorporationRLH Corporation is an innovative hotel
company focused on the franchising 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.
Social
Media:www.Facebook.com/myhellorewards www.Twitter.com/myhellorewards www.Instagram.com/myhellorewards www.Linkedin.com/company/rlhco
Investor Relations Contact: Nikki
Sacks203-682-8263investorrelations@rlhco.com
Media Contact: Roxanne
Rabasco303-459-4192Roxanne.Rabasco@rlhco.com
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