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RED LION INNS L.P. ANNOUNCES YEAR-END RESULTS

 RED LION INNS L.P. ANNOUNCES YEAR-END RESULTS
 VANCOUVER, Wash., Feb. 20 /PRNewswire/ -- Red Lion Inns Limited


Partnership (AMEX: RED) today announced results for the fiscal year ended Dec. 31, 1991.
 For the year, the partnership generated cash flow available for distribution and incentive management fees of $10.0 million, or $2.35 per unit, compared to $10.3 million, or $2.39 per unit, for the same period last year. The 1991 cash flow was adversely affected by a year-end $0.4 million insurance reserve adjustment which was not made in the prior year. The cash flow of $2.35 per unit adequately covered the distribution of $2.19 per unit.
 Net income for 1991 was $3.0 million, or 71 cents per unit, on revenues of $97.0 million compared to 1990 net income of $3.4 million, or 79 cents per unit, on revenues of $94.7 million. For the year, hotel occupancy rates increased to 73.0 percent up from 70.7 percent in the prior year, and average room rates increased to $63.58 in 1991 compared to $62.97 the prior year. The average occupancy and rate levels achieved were the highest since the inception of the partnership.
 For fourth quarter 1991, the partnership generated cash flow available for distribution and incentive fees of $1.9 million, or 46 cents per unit, compared to $2.4 million, or 57 cents per unit for the same period in 1990. Fourth quarter 1991 net income was $0.7 million, or 16 cents per unit, on revenues of $23.8 million compared to net income of $0.8 million, or 18 cents per unit, on revenues of $23.4 million for the same period in 1990. The fourth quarter results were adversely affected by the insurance reserves mentioned earlier.
 On Feb. 14, 1992, the partnership paid a fourth quarter 1991 cash distribution of 55 cents per unit to unitholders of record on Jan. 31, 1992. Total cash distributions declared for 1991 were $2.1875 per unit.
 Red Lion Inns Limited Partnership is the owner of 10 Red Lion hotels acquired in 1987. The 10 hotels are managed by Red Lion as part of its chain of over 50 hotels in the western United States.
 RED LION INNS LIMITED PARTNERSHIP


(In thousands, except per-unit amounts and operating statistics)
 Three Months Fiscal Year
 Ended Dec. 31: 1991 1990 1991 1990
 Revenues $23,826 $23,357 $96,959 $94,712
 Net income $ 697 $ 753 $ 2,997 $ 3,401
 Net income per unit $ 0.16 $ 0.18 $ 0.71 $ 0.79
 Avg. units outstanding 4,134 4,201 4,134 4,246
 Per unit cash flow
 available for distribution
 and incentive management
 fees $ 0.46 $ 0.57 $ 2.35 $ 2.39
 Per unit cash
 distributions $ 0.55 $0.5375 $2.1875 $2.1375
 Occupancy (percent) 67.4 65.4 73.0 70.7
 Avg. daily rate $ 61.25 $ 60.99 $ 63.58 $ 62.97
 -0- 2/20/92
 /CONTACT: Anupam Narayan of Red Lion Inns L.P., 206-696-0001/
 (RED) CO: Red Lion Inns Limited Partnership ST: Washington IN: LEI SU: ERN


LM-JH -- SE002 -- 0898 02/20/92 12:00 EST
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Publication:PR Newswire
Date:Feb 20, 1992
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