RLHC (Red Lion Hotels Corporation) sold the Red Lion Hotel Wenatchee in Washington. The new owners, who also own a second property in the RLHC network, entered into a franchise license agreement and will further invest in the property to improve the guest experience.
Edge Hospitality, the new owners of the Red Lion Hotel Wenatchee, planned improvements to the property's 149 guestrooms, public spaces and exterior. The property, which sold for $4.1 million, is the final of six hotels the company announced it listed for sale in November 2013.
"In each case, the owners have put their confidence in the Red Lion name by signing franchise license agreements to retain the RLHC branding and the improvements these owners are making will be of benefit to our guests," said RLHC President & CEO Greg Mount. "Additionally, in every case we closed at a price we felt was at or above market, driving value for our shareholders."