Red Lion Hotels Corp., of Spokane, announced this afternoon that Jon E. Eliassen will step down as company president and CEO on Aug. 12, and James P. Evans, a director with the company's board, will serve as interim president and CEO.
Eliassen will leave the company's board Sept. 30.
Separately, Red Lion reported a second-quarter net loss of $1.3 million, or 6 cents a diluted share, compared with a net loss of $3 million, or 15 cents a share, in the year-earlier quarter.
Having served in his present role for four years following a long career as an executive at Avista Corp., Eliassen said in a press release he has been discussing his retirement with the company's board for several months.
"I am leaving the company in excellent hands, and I am confident that our strong team will continue to succeed and build on the important progress we have made," he said.
Red Lion plans to start a search process immediately and said that search will include a full review of both internal and external candidates.
In its quarterly financial release, the company said its total revenue fell by almost $4 million, hampered by increased marketing expense, franchise development costs, and unfavorable labor-cost comparisons. However, total comparable revenue from owned and leased hotels inched up almost 1 percent, to $32.6 million, compared with the year-earlier quarter.
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