Red Lion Hotels To Acquire 478-Room Hotel In Denver, Colorado

Franchising.com:

Red Lion Hotels Corporation today announced that it has entered into an agreement to acquire the fee simple interest in the 478-room Radisson Hotel Denver Southeast for $25.3 million. The company has waived its due diligence inspection contingency, and the acquisition is expected to close in the second quarter of 2008, subject to usual closing conditions.

“This acquisition is part of our long-term growth and expansion strategy to increase our brand imprint,” said Red Lion President and Chief Executive Officer Anupam Narayan. “The new hotel will be a welcome addition to the Red Lion family. This hotel, along with our existing franchised property, the Red Lion Hotel Denver Central, should solidify our strong presence in this major Western hub market.”