RLH Corporation Sees Strong Momentum in 2018
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
Company has executed 34 mid and upscale hotel franchise agreements across North America DENVER, Nov. 14, 2018 (GLOBE NEWSWIRE) -- RLH Corporation (NYSE:RLH) announced today the company has executed 34 mid and upscale hotel franchise agreements in 2018. The Company’s Red Lion Hotel brand alone has 18 franchise agreements so far in 2018, growing the brand by over 62 percent to 47 full-service hotels nationally, with an average room count of over 200 and a robust pipeline. This momentum is in support of the Company’s franchise divisional profit guidance for the year of $18 to $19 million, $2 million above the Company’s original guidance. The company is tracking on guidance of 33 to 35 percent franchise divisional profit margin in 2018 and posted 39 percent for Q3, the highest thus far. “2018 marks the continued resurgence of Red Lion Hotels as a core upper-midscale full-service brand for the Company and unrelenting strength in all our mid and upscale hotel brands,” said RLH Corporat
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