---
title: "RLH Completes Sale of Red Lion Hotel Anaheim for $21.5 Million"
url: https://burnaze.com/article/3513b0d1-b6d0-4d98-bb7b-4f3e60a5658d
source: "Franchising.com"
original_url: https://www.franchising.com/news/20200303_rlh_completes_sale_of_red_lion_hotel_anaheim_for_2.html
category: "Hotels"
industry: "Lodging & Travel"
segment: "Hotels"
topics: ["Finance & M&A"]
published: 2020-03-03T12:00:00.000Z
modified: 2026-11-01T04:08:43.292Z
image: https://images.unsplash.com/photo-1611974789855-9c2a0a7236a3?w=1600&q=80&auto=format&fit=crop
---

# RLH Completes Sale of Red Lion Hotel Anaheim for $21.5 Million

**TL;DR:** RLH Corporation has completed the sale of its Red Lion Hotel Anaheim for $21.5 million, with proceeds to be used to repay a credit facility and fund franchise growth opportunities. The company will use the remaining funds for general business purposes and to fund franchise growth opportunities.

*originally published in Franchising.com on 2020-03-03. [Read the original](https://www.franchising.com/news/20200303_rlh_completes_sale_of_red_lion_hotel_anaheim_for_2.html).*

## Story

DENVER, March 02, 2020 // GLOBE NEWSWIRE // - RLH Corporation (NYSE:RLH) announced today that it has closed on the sale of its Red Lion Hotel Anaheim for $21.5 million in gross proceeds.

Red Lion Hotel Anaheim was wholly owned by the Company and unencumbered by a mortgage. Proceeds after broker fees and customary closing costs will be used to repay the $10 million credit facility. The remaining funds of $10.8 million will be used to fund franchise growth opportunities and for general business purposes.

This transaction marks the final closing of four hotels announced in September 2019 as under contract to be sold. The net proceeds from these four assets after closing costs, the repayment of property level mortgage and corporate debt, and distributions to its joint venture partners was $22.9 million.

Subsequent to the sales of these hotels, the Company’s outstanding debt is comprised of hotel property level debt of $5.6 million on the Olympia, Washington hotel, which is held in a joint venture.

The Company is currently in the process of marketing its Olympia, Washington and Baltimore, Maryland hotels. The Company continues to anticipate cumulative net proceeds in the range of $32 million to $36 million from the combined 2019 and 2020 asset sales.

RLH Corporation is an innovative hotel company focused on the franchising of upscale, midscale and economy hotels. The company maximizes 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

## Entities

- Franchising.com (publication)
- franchise growth (topic)
- Facebook (company)
- Lodging & Travel (sector)
- Twitter (company)
- Instagram (company)
- LinkedIn (company)
- credit facility (topic)
- hotel sale (topic)
- Red Lion Hotel Anaheim (location)
- RLH Corporation sale of Red Lion Hotel Anaheim (deal)

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Originally reported by Franchising.com (https://www.franchising.com/news/20200303_rlh_completes_sale_of_red_lion_hotel_anaheim_for_2.html). Summarized by Burnaze (https://burnaze.com/article/3513b0d1-b6d0-4d98-bb7b-4f3e60a5658d).