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He said the company would prefer to keep the Red Lion brand on the Denver property. If that is not possible, Red Lion will maintain a presence in the city with a franchised property near the old airport, he said.
Also, Eliassen said, the market for hotels appears to be strengthening israel car rental as the hospitality industry recovers from the recession. How strong will be better known after the Americas Lodging Investment Summit in San Diego next week, where both Red Lion properties will be shopped, he said.
Chris Burdett of CB Richard Ellis Hotels, who is handling the Seattle sale, said the demand for downtown properties, and the barriers to new entrants israel car rental should bring a lot of attention to the Fifth Avenue deal.
Maximizing cash from the sales will allow Red Lion to pay down a line of credit, readjust the debt-to-equity balance on company books, and free up capital that can be better deployed expanding a footprint of 43 hotels in eight states and one Canadian province, Eliassen said.
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