Red Lion To Acquire Sheraton Fiesta Hotel

Red Lion Hotels Inc. has signed an agreement to purchase the Sheraton Fiesta Hotel in San Antonio, Texas, and has bought property in Oregon to expand its Jantzen Beach hotel in Portland.

Terms of the San Antonio deal were not disclosed pending its finalization next week. In the Portland deal, Red Lion purchased 4.74 acres for $1.65 million, a company news release said.

The purchases are part of Red Lion’s plan to expand the number of hotels it owns and to increase the size of some existing properties. Red Lion, with 54 hotels in the Western United States, plans to add as many as 24 hotels in the next five years, the news release said.

The five-story Sheraton Fiesta Hotel has 290 rooms.