Columbia Pacific's continued stock-buying shows that company's managers feel there's still value in

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Red Lion Hotels Corp.'s largest shareholder is urging the united kingdom the Spokane company's directors to sell off more hotels or the entire company so that investors can earn better returns. Seattle-based Columbia Pacific Opportunity Fund owns 5.49 million common shares of publicly traded Red Lion — about 29 percent the united kingdom of the company's common stock. The Seattle firm has sent two letters in the past four months to Red Lion's board expressing a desire to see more of the hotel chain's assets sold off. The Feb. 28 letter from Columbia Pacific states: "Recently, several financial and strategic parties
The Feb. 28 letter from Columbia Pacific states: "Recently, several financial and strategic parties have notified us that they have an interest in evaluating purchasing either assets of Red Lion or the entire company if a sale or liquidation were considered."
The investment management company also asked Red Lion's board to find a reputable financial adviser to assist in selling off some properties or the entire company "to deliver full value to shareholders."
Public documents show that Columbia Pacific Opportunity Fund is managed by Columbia Pacific Advisers LLC, an investment firm with stakes in several other public companies. the united kingdom Alexander Washburn is the fund manager.
Jon Eliassen, Red Lion's CEO and president, said the company's formal response to Columbia Pacific is: "We value and encourage feedback from our shareholders. The Red Lion management team and the board continue to work toward creating greater long-term shareholder value."
While Columbia Pacific the united kingdom is pushing Red Lion to liquidate all or part of the assets, the Seattle the united kingdom firm also has been buying more Red Lion stock — 29,700 additional shares the united kingdom since Jan. 1, according to documents filed with the U.S. Securities and Exchange Commission.
Columbia Pacific's continued stock-buying shows that company's managers feel there's still value in Red Lion's assets, the united kingdom said Will Marks, a hotel industry analyst with JMP Securities, based in San Francisco.
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