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Spokane, Washington  Est. May 19, 1883
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Red Lion Hotels announces stock offering

In the newly renovated Hotel RL by Red Lion lobby, hotel quests lounge in cocoons hanging from a pergola. The downtown hotel, along the north bank of the Spokane River, has been remade to be more inviting to guests and the community. (Colin Mulvany / The Spokesman-Review)
By Becky Kramer

Red Lion Hotel Corp., a Spokane-based chain with ambitious growth plans, has announced its intent to raise money through a public stock offering.

Wednesday’s announcement contained few details. The company didn’t list how much it planned to raise or a specific purpose for the cash, and calls to officials weren’t returned.

Red Lion operates and franchises 10 hotel brands and also owns TicketsWest. The company recently acquired a competitor – Vantage Hospitality Group – which brought more than 1,000 franchised U.S. and Canadian hotels to Red Lion in a cash-stock deal valued at about $39.5 million.

Since 2014, Red Lion has grown from 55 owned, leased and franchised hotels to the current 1,157 hotels, which represents more than 73,000 rooms.

In an August filing with the U.S. Securities and Exchange Commission, Red Lion indicated that it would periodically raise money through stock or other securities offerings in amounts up to $100 million.