August 7, 2014 in Business

Red Lion Hotels

Spokane-based hotel company
 
Stock symbol:RLH
Reporting period:2Q 2014
Earnings:Profit of $5.1 million

26 cents per share

Versus 2Q 2013: Loss of $1.2 million

(Loss of 6 cents per share)

Revenue:$39.9 million

Of that total, $29.9 million is from hotel operations. The rest comes from franchises ($4.4 million) and entertainment ($5.5 million).

Analysis: CEO Greg Mount said recent hotel property sales generated proceeds of $10 million and a debt reduction of $9 million. After selling off its Bellevue hotel this year, the company plans to invest in equity ownership of hotels in the top 80 markets. “We believe this will provide the best return on investment to our shareholders,” he said.

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