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The Spokesman-Review Newspaper

The Spokesman-Review Newspaper The Spokesman-Review

Spokane, Washington  Est. May 19, 1883
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Red Lion waited for the right time to unload its Bellevue hotel

Today's interesting Spokane business story is the plan by Red Lion Hotels to sell its Bellevue property. It sits conveniently near the Bellevue city core and right next to busy I-405. It will fetch top-dollar because of Seattle area property values.

Down at the bottom is one nugget. In recent years some unhappy RLH investors have been pushing the company to sell the building.

Two years ago, the clamor was supported by predictions the building then would have sold for more than $20 million.

With a new CEO at the helm, the company has agreed to move forward with a sale. And the market is certainly better than it was two years ago -- for sellers.

The likely price tag, according to one unidentified specialist, will be somewhere above $45 million.

 

 



The Spokesman-Review business team follows economic development in Spokane and the Inland Northwest.