Red Lion reports loss for quarter, gain for year
Staff ReportFebruary 26th, 2015
Red Lion Hotels Corp., of Spokane, reported today a fourth-quarter net loss of $4.4 million, or 22 cents a share, compared with a loss of $13.8 million, or 66 cents a share, in the year-earlier quarter.
For all of 2014, however, the company posted net income of $2.3 million, or 12 cents a share, up from a net loss of $17.2 million, or 87 cents a share, in 2013.
Greg Mount, Red Lion’s president and CEO, said in a press release that new technology and marketing initiatives drove improvement in the company’s operations and profitability, as well as improvement in bottom-line performance.
The company completed 15 franchise agreements in 2014 and has completed several steps in its transition from a capital-intensive, full-asset ownership model to a group of hospitality brands focused on joint ventures and franchising hotels, Mount said.
“Due to the tremendous strides we have made, RLHC is uniquely positioned for growth,” he asserted.