Red Lion Hotels Reports Third Quarter 2013 Results

Published on : Tuesday, November 5, 2013

red lion hotels logoRed Lion Hotels Corporation , a western U.S. based owner, operator and franchisor of midscale hotels, today announced its results for the third quarter 2013.  Highlights:

 
• Improved ADR and RevPAR for comparable owned and leased hotels for the quarter by 4.2 percent and 2.8
percent respectively, over prior year
• Increased comparable hotel direct operating margin for the quarter by 220 basis points, over prior year
• Increased comparable EBITDA from continuing operations before special items for the quarter by 8.3 percent,
over prior year
• Launched individual hotel microsites
• Achieved 2013 goal of 30 franchised hotels

 

Comparable operating results and data from continuing operations (as disclosed in the table by the same title) for the periods included in this release exclude from hotel operations the results of the hotels or operations that have been sold in the past four quarters. Throughout this release the company refers to certain non-GAAP financial measures. Please refer to the tables attached to this release for a reconciliation of these non-GAAP financial measures to their most directly comparable financial measure determined in accordance with GAAP.

 

 

“With the recent conversion of three hotels to Red Lion brands, we have added a record 11 franchises this year, achieving our goal of 30 franchised properties in the Red Lion network by the end of 2013,” said Interim President and Chief Executive Officer James P. Evans. “We also increased our ADR by 4.2 percent, improved hotel direct operating margin by 220 basis points and grew comparable EBITDA from continuing operations before special items by 8.3
percent year-over-year. We are pleased with our strong operational performance.”

 
Evans continued, “The search for our next president and chief executive officer is well underway. The national executive search firm Spencer Stuart has identified numerous qualified candidates who have expressed interest in the position, underscoring the strength of the Red Lion brand and the company’s future.”

 

Source:-Red Lion Hotels

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