RLH Corporation Provides Update on Expectations for Asset Sales
In early 2019, the Company began marketing three assets for sale, specifically,
Estimated gross proceeds from the six unsold hotels are expected to be in the range of
The remaining two hotels being operated by the Company are the
To increase focus on its franchising business strategy, in
The timing and proceeds of the hotel sales are subject to buyer negotiation, market conditions and the availability of buyer financing, the Company cannot ensure that the timing or proceeds will be achieved and both timing and proceeds are subject to change. RLH is providing this summary as incremental disclosure.
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Forward Looking Statements
This press release contains forward-looking statements within the meaning of federal securities law, including statements concerning plans, objectives, goals, strategies, projections of future events or performance and underlying assumptions (many of which are based, in turn, upon further assumptions). The forward-looking statements in this press release are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those expressed. Such risks and uncertainties include, among others, economic cycles; international conflicts; changes in future demand and supply for hotel rooms; competitive conditions in the lodging industry; relationships with franchisees and properties; impact of government regulations; ability to obtain financing; changes in energy, healthcare, insurance and other operating expenses; ability to sell non-core assets; ability to locate lessees for rental property; dependency upon the ability and experience of executive officers and ability to retain or replace such officers as well as other matters discussed in the Company's annual report on Form 10-K for the year ended December 31, 2018, and in other documents filed by the Company with the Securities and Exchange Commission.
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Source: RLHC (Red Lion Hotels Corporation