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April 30, 2015
Spokane-based Red Lion Hotels Corp. said it will buy the GuestHouse International and Settle Inn hotel brands. Red Lion will get intellectual property assets and franchise license agreements for 73 hotels, with nearly 5,200 rooms for $8.5 million, with a potential additional payment of up to $1.5 million. The sale is expected to close today. This transaction more than doubles Red Lion's hotel portfolio from 57 to 130 hotels in 30 states. GuestHouse and Settle Inn properties will remain under those brands, but Red Lion will update the reservation systems.
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