RLH Corporation Closes Acquisition of the Knights Inn Brand from Wyndham Hotel Group
RED LION HOTELS (RLH)
Last red lion hotels earnings: 2/27 06:30 am
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Source: GlobeNewswire
DENVER, May 14, 2018 (GLOBE NEWSWIRE) -- RLH Corporation (NYSE:RLH) today announced that it closed its acquisition of the Knights Inn brand from Wyndham Hotel Group, LLC a subsidiary of Wyndham Worldwide (NYSE:WYN). As a result of the acquisition, the Company acquired approximately 350 economy segment franchise contracts across North America and a pipeline of additional contracts. The acquisition is another step in RLH Corporation’s transformation into an asset-light franchised hotel company. The Company expects the transaction will be immediately accretive to the Company’s earnings and cash flow. "We are enthusiastic to have closed the acquisition of Knights Inn," commented Greg Mount, President and Chief Executive Officer. "Our team is working closely with all Knights Inn hotels to ensure a smooth integration into our systems. We will continue to focus on accelerating the growth of the Knights Inn brand along with all RLH Corporation brands. We are committed to delivering add
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