Real EstateAcquisitionsRed Lion Hotels Sells and Franchises Pendleton Property

Red Lion Hotels Sells and Franchises Pendleton Property

SPOKANE, Wash.β€”Red Lion Hotels Corporation announced the company has sold for $2.25 million the Red Lion Hotel Pendleton in Oregon. The full service hotel has 170 rooms, a restaurant, 10,500 square feet of meeting and banquet space, and an outdoor pool with a view of the Blue Mountains.

“The sale of this property allows us to further invest in our owned hotels while we continue to leverage the Red Lion name in this market,” said Jon E. Eliassen, president and chief executive officer of Red Lion Hotels Corporation. “We are pleased that each of our property sales in the past 22 months has resulted in a new franchise agreement.”

“Red Lion has a long history in the Pendleton community,” added Ron Burgett, executive vice president of lodging and brand development for Red Lion Hotels Corporation. “The new owners of this property will continue to build on that legacy.”

The company purchased the Red Lion Hotel Pendleton as part of the November 2011 purchase of 10 previously-leased properties from iStar Financial.