Red Lion Enters Agreement to Sell Office and Retail Building
JULY 10, 2007. Red Lion Hotels Corporation (NYSE:RLH) today announced that it has entered into an agreement to sell the Lincoln and Grant Office and Retail Buildings in downtown Spokane to Barbieri Real Estate Company in a tax-advantaged transaction.
The transaction is expected to close by the end of the third quarter. Barbieri Real Estate Company is owned by Thomas Barbieri, the principal of Goodale & Barbieri Real Estate Company.
"We marketed these buildings nationally in continuation of our effort to divest our non-core real estate and focus on our core hotel business and have been pleased with the level of interest in these properties," said Anupam Narayan, Executive Vice President of Red Lion Hotels Corporation. "A sale to Barbieri Real Estate Company will provide the best economic return to us due to the favorable combination of price and tax advantages associated with the transaction structure."
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
