RLH Corporation Announces Update on Executed Franchise Agreements
RED LION HOTELS (RLH)
Last red lion hotels earnings: 2/27 06:30 am
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US:NYSE Investor Relations:
ir.redlion.com/investor-relations
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Source: GlobeNewswire
DENVER, July 29, 2019 (GLOBE NEWSWIRE) -- RLH Corporation (NYSE:RLH) announced today the Company executed 40 hotel franchise agreements during the second quarter, an increase of approximately 38% versus the number of contracts signed during the second quarter of 2018. The 40 contracts included 5 mid and upscale (USB) hotels and 35 select service (SSB) hotels. Year-to-date, the Company has signed 96 contracts, which include 13 USB hotels and 83 SSB hotels. On a year to date basis, contract signings are 60% ahead of the first half of 2018. Given the momentum in contract signings year to date, RLHC is raising its expectations on execution of franchise agreements in 2019 to 175 to 210 contracts from the prior guidance of 160 to 200 contracts. RLH Corporation President of Global Development Paul Sacco stated: “Our development team’s strong start to the year illustrates the value of the RLHC brands. Our brands are seeing a great deal of interest and our contracts for new hotels are posit
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