Company has executed 34 mid and upscale hotel franchise agreements across North America
DENVER, Nov. 14, 2018 (GLOBE NEWSWIRE) — RLH Corporation (NYSE:RLH) announced today the company has executed 34 mid and upscale hotel franchise agreements in 2018. The Company’s Red Lion Hotel brand alone has 18 franchise agreements so far in 2018, growing the brand by over 62 percent to 47 full-service hotels nationally, with an average room count of over 200 and a robust pipeline.
This momentum is in support of the Company’s franchise divisional profit guidance for the year of $18 to $19 million, $2 million above the Company’s original guidance. The company is tracking on guidance of 33 to 35 percent franchise divisional profit margin in 2018 and posted 39 percent for Q3, the highest thus far.
“2018 marks the continued resurgence of Red Lion Hotels as a core upper-midscale full-service brand for the Company and unrelenting strength in all our mid and upscale hotel brands,” said RLH Corporation President of Global Development Paul Sacco. “Our mid and upscale brands now have over 100 open hotels and we continue to see solid growth across all brands.”
Most recently, Red Lion Hotel Monterey opened in California. Nestled half-way between historic downtown Monterey and charming Carmel by the Sea, the hotel features the Crazy Horse full-service restaurant, Safari Club Lounge & Bar, free high-speed WiFi and an onsite fitness center. Red Lion Hotel Monterey joins other recent coast-to-coast Red Lion Hotel openings with prime locations in Hartford, Connecticut; Albany, New York; Lake Buena Vista, Florida; and Houston, Texas.
In 2018, RLH Corporation has grown to nearly 1,500 hotels with over 90,000 rooms across 11 brands from economy to upscale. The Company has signed 138 agreements year-to-date, well on the way to the stated goal of 150 to 200.
“Halfway through Q4 2018, our pipeline shows tremendous strength and momentum as we continue our resilient focus on the Company’s franchise division,” continued Sacco. “We have seen a strong interest in our mid and upscale hotel brands across the country in prime locations with access to top local attractions, reinforcing our position as the basecamp for leisure and business travelers in North America.”
To 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
[email protected]
Media Contact:
Dan Schacter
Director, Social Engagement and Public Relations
509-777-6222
[email protected]
