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RED LION INNS L.P. ANNOUNCES THIRD-QUARTER 1992 RESULTS

 RED LION INNS L.P. ANNOUNCES THIRD-QUARTER 1992 RESULTS
 VANCOUVER, Wash., Oct. 28 /PRNewswire/ -- Red Lion Inns L.P. (AMEX: RED) today announced results for the quarter and nine months ended Sept. 30, 1992.
 The partnership hotels improved occupancy and average room rates for the quarter and nine months, despite unfavorable economic conditions. Current quarter occupancy of 81.3 percent and average room rate of $66.31 compared favorably to the occupancy and average room rate of 80.1 percent and $65.66, respectively, for the same period last year.
 The partnership generated cash flow available for distributions and incentive management fees of $3.6 million, or 84 cents per unit, compared to $3.5 million, or 81 cents per unit, for the same quarter last year. This represented a 4-percent increase in the per-unit amount.
 Current quarter net income increased 5 percent to $0.9 million, or 21 cents per unit, up from $0.8 million, or 20 cents per unit, for the same period last year.
 For the nine months, cash flow available for distribution and incentive management fees was $8.5 million, or $2.00 per unit. This compared to $8.0 million, or $1.89 per unit, for the same period last year, a 6-percent increase in the per-unit amount. Last year's nine- month amount included a $0.6 million, 14-cents-per-unit property tax refund. Excluding the effect of that refund, the nine-month per-unit cash flow increased 15 percent over the prior period.
 As previously announced, the partnership will make a distribution of 55 cents per unit on Nov. 13 to unitholders of record on Oct. 31.
 Red Lion Inns L.P. is the owner of 10 Red Lion hotels acquired on April 14, 1987. The 10 hotels are managed by Red Lion as part of its chain of 52 hotels in the western United States.
 RED LION INNS L.P.
 (In thousands, except per-unit amounts and operating statistics)
 Three Months Nine Months
 Ended Sept. 30: 1992 1991 1992 1991
 Revenues $25,076 $25,075 $72,706 $73,133
 Net income $ 880 $ 828 $ 2,324 $ 2,300
 Net income per unit $ 0.21 $ 0.20 $ 0.55 $ 0.55
 Average units outstanding 4,134 4,134 4,134 4,134
 Per-unit cash flow available
 for distribution and
 incentive management fees $ 0.84 $ 0.81 $ 2.00 $ 1.89
 Per-unit cash distributions $ 0.55 $ 0.55 $ 1.65 $1.6375
 Occupancy (percents) 81.3 80.1 75.1 74.8
 Average daily rate $ 66.31 $ 65.66 $ 65.09 $ 64.29
 -0- 10/28/92
 /CONTACT: A. Narayan, investor relations, Red Lion Inns L.P., 206-696-0001/
 (RED) CO: Red Lion Inns L.P. ST: Washington IN: LEI SU: ERN


SW-LM -- SE003 -- 5769 10/28/92 07:50 EST
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Date:Oct 28, 1992
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