Red Lion Hotels (RLH) will put up for sale 11 of its remaining 18 owned hotels, as part of its strategy to focus on franchising.
RLH Corporation hired CBRE, the world’s largest commercial real estate company, to immediately begin the sale of these hotels, it said Thursday. All of the listed hotels are owned through partnerships with outside investors.
The hotels that are not being listed at this time are generally newer joint venture acquisitions in Baltimore, Washington, D.C., and Atlanta, in which additional time will help stabilize to higher revenues and profitability before selling them, the company said.
The remaining hotels are leasehold interests with no near-term plan for disposal. The franchise portfolio stands about 1,100 hotels compared to less than 100 three years ago.
“This growth has allowed the company to achieve critical mass in advertising, marketing and technology to provide greater value and support to its franchisees,” it said.