Red Lion Hotels Corp. is moving its headquarters and
principal executive office from Spokane, Wash. to Denver to "align our
geography more toward the center of the country," RLHC president and CEO
Greg Mount said during the company's second-quarter earnings call.
The move is effective immediately, though RLHC will maintain
satellite offices in Spokane and Coral Springs, Fla., the original headquarters
of Vantage Hospitality, which RLHC acquired last year. Mount said Denver
International Airport has a lot of direct flights and that Denver offers "access
to the human capital we need to be able to see it grow and execute against our
strategy."
Q2 Highlights
RLHC saw year-over-year gains in both average daily rate and
occupancy during the second quarter. ADR rose 3.2 percent to $92.03, and
occupancy increased 100 basis points to 65.3 percent.
RELATED: Coverage of RLHC's Q1
The company's acquisition of Vantage Hospitality, which
closed Sept. 30, 2016, helped it achieve more than 200 percent year-over-year
growth in franchise revenue during the quarter. Some of the brands RLHC
inherited from economy-focused Vantage include Signature
Inn and Americas Best Value Inn. Mount said RLHC would consider additional
acquisitions, as well as selling its entertainment arm, TicketsWest.
RLHC opened 29 new properties and terminated 56
during the quarter. As of June 30, its portfolio consisted of 71,100 rooms
across 1,110 hotels.