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CST: 20/04/2019 01:54:36   

RLH Corporation Finished 2018 With 167 New Franchise Agreements

65 Days ago

Company Expects to Execute 160 to 200 Franchise Agreements in 2019

DENVER, Feb. 13, 2019 (GLOBE NEWSWIRE) -- RLH Corporation (NYSE:RLH) announced today it has achieved a record 167 executed hotel franchise agreements in 2018. Specifically, the Company signed 37 mid and upscale hotels and 130 select service hotels in addition to acquiring over 350 select service franchise agreements with the acquisition of Knights Inn. RLH Corporation now encompasses over 85,500 rooms; an increase of 24% from 2017 and upscale brands now comprise 8% of the Company’s hotels.   

“2018 was an outstanding and transformational year for the Company,” said RLH Corporation President and Chief Executive Officer Greg Mount. “We intensified our focus and invested incremental expert resources on our franchise business, especially on the human capital front. We also began seeing meaningful improvement to the velocity and volume of our franchise agreement signings. These important shifts in focus, leadership and strategy will serve us well, as we continue to progress to a fully asset light franchise company. We are particularly encouraged by the interest in our mid and upscale brands.”

During 2018 the Company signed agreements for four Hotel RLs, including one on Miami Beach, Florida. It opened its first resort hotel with The Island in Fort Walton Beach, FL and opened Signature San Francisco, the first from this refreshed brand.

In addition during 2018, RLH Corporation sold nine owned hotels for over $116 million in gross proceeds. In order to concentrate even more of their available resources on the franchise business, the company has transitioned four of the remaining owned hotels to third-party managers in anticipation of future sales. 

The Company is experiencing continued strong interest in its franchises into 2019 and is providing guidance of 160 to 200 executed agreements for the year.  As previously communicated, the Company’s franchise development efforts are being intensified on its mid and upscale brands. You can refer to the Company’s most recent investor presentation to learn more about RLH’s long term outlook here: http://ir.redlion.com.

Learn more about franchising with RLH Corporation, visit franchise.rlhco.com.

We don’t wait for the future. We create it.

About RLH Corporation
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.

Social Media:
www.Facebook.com/myhellorewards 
www.Twitter.com/myhellorewards 
www.Instagram.com/myhellorewards 
www.Linkedin.com/company/rlhco 

Investor Relations Contact: 
Evelyn Infurna
Investor Relations
203-682-8265
investorrelations@rlhco.com 

Media Contact:
Dan Schacter  
Director, Social Engagement and Public Relations
509-777-6222
dan.schacter@rlhco.com

RLH Corporation 2018 Brand Growth

Upscale              
  Hotel RL1 Red
Lion
Hotel
Red
Lion
Inn &
Suites
Signature Settle
Inn
Other Total
Beginning Property Count 7 38 36 0 3 18 102
Opened 3 14 12 1 0 0 30
Change in Brand 0 0 (1) 1 (1) (1) (2)
Terminated (2) (6) (4) 0 (2) (4) (18)
Ending Property Count 8 46 43 2 0 13 112
               
Development Executions 5 19 12 1 0 0 37
1 - There are 7 Hotel RL's executed and scheduled to open in the future.  
               
Select Service              
  Americas
and
Canadas
Best
Value Inn
Knights
Inn
Country
Hearth
GuestHouse Signature
Inn
Other Total
Beginning 850 0 41 29 3 55 978
Opened 23 366 3 1 1 1 395
Change in Brand (1) 0 17 2 0 (16) 2
Terminated (95) (34) (8) (5) (1) (17) (160)
Ending 777 332 53 27 3 23 1,215
               
Development Executions 88 12 25 4 0 1 130
               

 

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