Red Lion announces long-term growth plan; full-service chain to increase properties by 50 percent in five years.
VANCOUVER, Wash.--(BUSINESS WIRE)--Jan. 23, 1996--Following its successful Initial Public Offering last July, Red Lion Red Lion may refer to:
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"We are aggressively pursuing opportunities for growth," said Red Lion's vice president of Development, C.A. Anderson, a panelist at the eleventh annual Hotel Industry Investment Conference, a major gathering of hotel industry leaders. "We currently have an inventory of more than 14,000 rooms and anticipate adding 7,000 over the next five years."
The full-service chain expects to complement its 54 existing locations with additional properties in cities such as San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Seattle and Vancouver, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography
, and continue moving east to cities such as Dallas, Houston and Kansas City Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). . The company's strategy is to own, manage and enter into selective joint agreements. Red Lion will maintain operating control over all properties to ensure high quality and consistency.
"Red Lion is very selective, participating as partner or operator only in properties that meet strictly defined criteria of property type, size and location," Anderson said. "We take a long-term approach, creating deliberate, strategic growth that provides our shareholders and other partners with the highest long-term return on investment. Our operating expertise, combined with a strong balance sheet that gives us capital availability, positions us well for growth."
To maximize the potential of its existing and future occupancy, Red Lion is investing $11 million in a state-of-the-art central reservation central reservation
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central reservation n (BRIT) (AUT) → mediana system that includes a new call-center facility, telephone equipment, computer systems and Anasazi reservation software. The system, named OSCAR (Open System for CommunicAtion in Realtime) AOL's internal project name for AOL Instant Messenger (AIM). The core functions of OSCAR, known as the Basic OSCAR Services (BOS), include Login/Logoff, Locate (find out about other AIM users), Instant Message for "On-line Systems for Centrally Automated Reservations," will link central reservations Central Reservations is the third compilation released by Grand Central Records. It was released in September 1997 and consists of outtakes and remixes from the Central Heating compilation and Tony D's Pound For Pound album. , global distribution systems and Red Lion properties directly to up-to-the-minute room availability and rate information beginning April 1, 1996.
"OSCAR will dramatically streamline operations, resulting in increased revenues and operating efficiency," Anderson said. "More importantly, it will allow us to provide enhanced service Enhanced service is service offered over commercial carrier transmission facilities used in interstate communications, that employs computer processing applications that act on the format, content, code, protocol, or similar aspects of the subscriber's transmitted information; to guests and travel agencies because we'll be better able to track last room availability."
Red Lion's primary focus is meeting the needs of the business traveler with high- quality meeting facilities, full-service amenities and prime locations in the western United States. More than 50 percent of its guests are individual business or leisure travelers and more than 30 percent are convention or group delegates. Known for its loyal customers, Red Lion recorded 1.2 million group-room bookings in 1994. Its Frequent Guest Dividends program is currently up by nearly 56 percent from 1993, and its occupancy rates have consistently exceeded the industry average.
A proven industry leader in the full-service category, Red Lion also enjoys strong alliances with American Airlines, Alaska Airlines, Southwest Airlines, Horizon Air, American Express, AT&T and Hertz.
Red Lion's current portfolio is composed of wholly-owned hotels, joint-venture properties, leasehold properties and management agreements. Currently, Red Lion operates and manages 54 hotels and resorts in 10 western states, and employs more than 10,500 people. Red Lion Common Stock is traded on the New York Stock Exchange New York Stock Exchange (NYSE)
World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol "RL."
CONTACT: Red Lion Hotels Inc.
Kerri Culbertson, 360/696-0001