Please wait while we load the requested 10-K report or click the link below:
https://last10k.com/sec-filings/report/1052595/000119312512115988/d278576d10k.htm
March 2021
March 2021
March 2021
February 2021
December 2020
November 2020
September 2020
August 2020
June 2020
June 2020
Exhibit 99.1
Company Contact:
Pam Scott
Director of Corporate Communications
(509) 777-6393
Red Lion Hotels Reports Fourth Quarter
and Full Year 2011 Results
SPOKANE, Wash., February 28, 2012Red Lion Hotels Corporation (NYSE: RLH), a western U.S. based owner and franchisor of midscale hotels, today announced its results for the fourth quarter and year ended December 31, 2011.
Comparable operating results and data from continuing operations (as disclosed in the table by the same title) for the periods included in this release exclude from hotel operations the results of the Red Lion Hotel on Fifth Avenue in Seattle, which was sold in the second quarter of 2011. Following the sale, this property continues to operate as a franchised hotel and the company is therefore required to report its financial results in continuing operations.
Fourth Quarter Overview:
| RevPAR for comparable owned and leased hotels decreased 0.9 percent year over year |
| Comparable EBITDA from continuing operations before special items increased $1.9 million compared with fourth quarter 2010 |
| Recorded pre-tax goodwill and asset impairment charges of $20.5 million in continuing operations |
| Net loss from continuing operations, including the impairment charges, was $20.2 million compared to $7.1 million in the prior year |
| Acquired 10 previously leased hotels in a tax-deferred exchange |
| Added three new franchised hotels in New Mexico |
Full Year Overview:
| RevPAR from comparable owned and leased hotels increased 2.7 percent |
| Comparable EBITDA from continuing operations before special items decreased $3.9 million compared to prior year |
| Recorded pre-tax goodwill and asset impairment charges of $22.7 million in continuing operations |
| Sold Seattle Fifth Avenue for $71 million and recorded a gain of $33.5 million. |
| Net loss from continuing operations was $6.0 million compared to $7.9 million in the prior year |
| Added six new franchised hotels |
In 2011, our RevPAR growth exceeded that of our competitors in our markets and we continued to maintain our market share, said Jon E. Eliassen, President and Chief Executive Officer of Red Lion Hotels Corporation. At the same time, we significantly improved our balance sheet by paying down debt and acquiring previously leased hotels. As we look forward, we believe our hotels will be well positioned to compete for business when the economy recovers in our region.
Please wait while we load the requested 10-K report or click the link below:
https://last10k.com/sec-filings/report/1052595/000119312512115988/d278576d10k.htm
Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Red Lion Hotels Corp.
Red Lion Hotels Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2012 10-K Annual Report includes:
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
Red Lion Hotels Corp provided additional information to their SEC Filing as exhibits
Ticker: RLH
CIK: 1052595
Form Type: 10-K Annual Report
Accession Number: 0001193125-12-115988
Submitted to the SEC: Thu Mar 15 2012 6:23:27 AM EST
Accepted by the SEC: Thu Mar 15 2012
Period: Saturday, December 31, 2011
Industry: Hotels And Motels