Spokane-based Red Lion Hotels Corp. announced on Thursday it's sold its Red Lion Missoula Inn for $1.95 million. As part of the sale agreement, the new owners signed a franchise agreement with the company.

It's been renamed the Red Lion Inn & Suites Missoula. It's a limited service property with 76 exterior entry rooms, situated near Providence Health & Services St. Patrick Hospital in  downtown Missoula.

“This property is in a great location,” said Sam Hossain of RASM Properties, LLC, the new owners of the hotel.

Red Lion had announed in November 2011 that the property was for sale.

Spokane’s Red Lion Hotels Corp. announced Wednesday it’s added a franchise location in Cathedral City, Calif.

This fall the 97-room Quality Inn & Suites Date Palm will convert to Red Lion Hotel Cathedral City.  Cathedral City is approximately seven miles southeast of Palm Springs.

Red Lion has made a clear strategic decision to expand through franchising new locations.

 Company CEO Jon Eliassen said the property is a good addition that will appeal to travelers to the Palm Springs and Southern California region.

 Having a location in the Palm Springs area makes sense by offering more options to winter-time business or recreation travelers, Eliassen added. The Red Lion press release noted the Palm Springs area features more than 100 golf courses.