RLH Corporation Closes Acquisition of the Knights Inn Brand From Wyndham Hotel Group
May 16, 2018 11:40am
DENVER (May 16, 2018) — RLH Corporation (NYSE:RLH) today announced that it closed its acquisition of the Knights Inn brand from Wyndham Hotel Group, LLC a subsidiary of Wyndham Worldwide (NYSE:WYN).
As a result of the acquisition, the Company acquired approximately 350 economy segment franchise contracts across North America and a pipeline of additional contracts. The acquisition is another step in RLH Corporation’s transformation into an asset-light franchised hotel company. The Company expects the transaction will be immediately accretive to the Company’s earnings and cash flow.
"We are enthusiastic to have closed the acquisition of Knights Inn," commented Greg Mount, President and Chief Executive Officer. "Our team is working closely with all Knights Inn hotels to ensure a smooth integration into our systems. We will continue to focus on accelerating the growth of the Knights Inn brand along with all RLH Corporation brands. We are committed to delivering additional value and opportunities to all of our hoteliers and associates, as well as earnings accretion to our shareholders."
To learn more about franchising with RLH Corporation, visit franchise.rlhco.com. We don’t wait for the future. We create it.
Tags: rlh corporation,
wyndham hotel group, llc,
Red Lion Hotels Corporation is an innovative hotel company doing business as RLH Corporation and focuses on the franchising, management and ownership 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.
Contact: Amy Koch
Contact: Dan Schacter
Following a 2.5 Year, $20 Million Renovation Carter Hospitality Opens the Red Lion Hotel Lake Buena Vista South
RLH Corporation Closes Sale of Hotel RL Spokane at the Park for $35 Million
RLH Corporation Closes Sale of Red Lion Hotel Port Angeles for $19.5 Million
RLH Corporation to Debut Hotel RL in California With Development of Hotel RL Salinas
Coliseum Capital Management and Vindico Capital Acquire RLH Corporation Shares Previously Held by HNA Investment Management
RLH Corporation Promotes Paul Sacco to Executive Vice President, President of Global Development
RLH Corporation Promotes Amanda Marcello to Senior Vice President of Brand Strategy
RLH Corporation Appoints Gary Sims Chief Operating Officer
Key Executives at RLH Corp. to Resign, Begin Consulting With Brand
RLH Corporation Closes Sale of Red Lion Hotel Templin’s on the River for $9.25 Million
RLH Corporation Opens The Island by Hotel RL in Fort Walton Beach, Florida Marking First Hotel RL Resort
RLH Corporation Closes Sale of Red Lion Inn & Suites Bend for $5.5 Million
RLH Corporation Enters Into Definitive Agreement to Acquire the Knights Inn Brand from Wyndham for $27 Million Cash
RLH Corporation Closes Sale of Three Red Lion Hotels in Boise, Idaho, and Pasco and Richland, Washington for $29.9 Million
Inner Circle Investments Signs 20-Year Franchise Agreements for Management of Ten RLH Corporation Hotels
RLH Corporation Sells Two Hotels in Redding and Eureka, California for $17.35 Million
Wyndham Worldwide to Sell Its European Vacation Rental Business to Platinum Equity for $1.3 Billion
RLH Corporation Executes Five Hotel Purchase and Sale Agreements
RLH Corporation Names Paul Sacco Chief Development Officer
Wyndham Worldwide Announces Spin-Off Hotel Company Executive Leadership Team
Please login or register to post a comment.