Red Lion Hotels Corp., of Spokane, announced this morning it has sold the Red Lion Hotel Pendleton, in Pendleton, Ore., for about $2.3 million.
The buyer, whose name Red Lion declines to disclose, has agreed to franchise with the company, and the hotel will retain its current name.
Jon Eliassen, president and CEO of Red Lion, said, "We are pleased that each of our property sales in the past 22 months has resulted in a new franchise agreement."
Other hotels that Red Lion has sold and converted to franchise operations in recent months include the Red Lion Inn Missoula, the Red Lion Hotel Denver Southeast, and the Red Lion Colonial Hotel, in Helena, Mont., among others.
Located just off Interstate 84 in Pendleton, the full-service Red Lion Hotel Pendleton has 170 guest rooms, a restaurant, and 10,500 square feet of meeting and banquet space.
The property is one of 10 that Red Lion bought in November 2011 from iStar Financial after leasing it previously.