RLH to sell two US properties

10th November 2011 (Last Updated November 10th, 2011 18:30)

Red Lion Hotels has announced plans to sell two properties in the US, one in Medford, Oregon, and the other in Missoula, Montana.

Red Lion Hotels has announced plans to sell two properties in the US, one in Medford, Oregon, and the other in Missoula, Montana.

The move means that RLH can focus on non-core assets, the company said in a statement.

RLH president and CEO Jon Eliassen said, "We will continue to look for ways to strategically position Red Lion with hotels that fit the brand going forward. Selling these two properties also furthers our effort to restructure our balance sheet, which will give the company more financial flexibility and increase shareholder value."

Last week, RLH announced a $37m deal with iStar Financial and Hilton Hotels, in which it purchased ten hotels formerly leased from a subsidiary of iStar.