August 13, 2008 in Business

Red Lion teams with Expedia in bid to expand online presence

 

An agreement with Expedia Inc. will give Red Lion Hotels Corp. a higher online profile, the Spokane-based hotel chain’s senior vice president said Tuesday.

Barry Hughes, head of Red Lion distribution and marketing, said the pact will put company properties on all Expedia Web sites worldwide.

Red Lion will also appear higher on Expedia directories, and receive preferential advertising and promotional consideration, he said.

“Partnering with Expedia is the ideal way to help us extend our offerings to millions of travelers worldwide,” Hughes said.

Expedia is the world’s largest online travel site.

Red Lion owns, operates or franchises 50 hotels in nine Western states and Victoria, B.C.

NEW YORK

Zillow says 24 percent of homes sold in past year lost money

Almost one in four people who sold property in the past year lost money on the deal, a report from Zillow Inc. showed Tuesday, while foreclosures accounted for 15 percent of all sales.

Nationwide, nearly 24 percent of homes sold at a loss, the real estate information company said in its second-quarter market report.

It also showed that in parts of California more than three of five homes sold for a loss and half of all sales were foreclosures.

Despite gloomy headlines and dismal data, homeowners nationwide remain optimistic about the value of their properties, a separate Zillow survey found. Sixty-two percent think their home value increased or stayed the same in the past year and three-fourths expect their home value to increase or stay the same in the next six months.

NEW YORK

Access code breach may affect 7,000 Wells Fargo customers

Wells Fargo & Co. is notifying about 7,000 people that their personal information might have been seen by someone using a bank access code illegally.

A bank spokeswoman said Tuesday that MicroBilt Corp., a consumer data vendor, told Wells Fargo on July 1 that there was unusual activity on one of the bank’s access codes. The activity was particularly suspicious because Wells Fargo no longer uses that particular vendor for consumer information.

“We notified law enforcement right away,” said Wells Fargo spokeswoman Mary Berg, adding that it appears that the unauthorized activity happened in May and June. “A full investigation is under way.”

The bank is sending letters and offering those individuals a free one-year membership to an identity theft protection service.

From staff and wire reports


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