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

 VANCOUVER, Wash., Feb. 19 /PRNewswire/ -- Red Lion Inns Limited Partnership (AMEX: RED) today announced its results for the year and quarter ended Dec. 31, 1992.
 For the year, the partnership generated cash flow available for distribution and incentive management fees (cash flow) of $10.2 million, or $2.41 per unit, compared to $10.0 million, or $2.35 per unit, for 1991. Included in 1992 cash flow is $0.8 million (19 cents per unit) of contractual principal payments which started in May 1992. Excluding the effect of those payments, cash flow increased 11 percent on a per-unit basis from 1991 to 1992. The growth in cash flow is attributed to improved operating performance resulting from higher productivity.
 The partnership had net income in 1992 of $3 million (72 cents per unit), relatively unchanged from 1991 net income of $3.0 million (71 cent per unit). Revenues in 1992 were $95.7 million compared to $97 million in 1991.
 For the fourth quarter of 1992, cash flow was $1.7 million (41 cents per unit) compared to $1.9 million (46 cents per unit) in the 1991 quarter. Principal payments in the quarter amounted to $0.3 million, or 7 cents per unit. Net income of $0.7 million (17 cents per unit) remained relatively unchanged from the prior-year quarter's $0.7 million (16 cents per unit). Revenues were $23.0 million for the quarter compared to $23.8 million for the prior-year quarter.
 On Feb. 12, the partnership paid a fourth-quarter 1992 cash distribution of 55 cents per unit to unitholders of record on Jan. 31. Total cash distributions declared for 1992 were $2.20 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: 1992 1991 1992 1991
 Revenues $23,039 $23,826 $95,745 $96,959
 Net income $ 714 $ 697 $ 3,038 $ 2,997
 Net income per unit $ 0.17 $ 0.16 $ 0.72 $ 0.71
 Average units outstanding 4,134 4,134 4,134 4,134
 Per unit cash flow available
 for distribution and
 incentive management
 fees $ 0.41 $ 0.46 $ 2.41 $ 2.35
 Per unit cash
 distributions $ 0.55 $ 0.55 $ 2.20 $2.1875
 Occupancy (pct) 65.4 67.4 72.7 73.0
 Average daily rate $ 62.74 $ 61.25 $ 64.56 $ 63.58
 -0- 2/19/93
 /CONTACT: A. Narayan, investor relations, of Red Lion Inns L.P., 206-696-0001/
 (RED)


CO: Red Lion Inns Limited Partnership ST: Washington IN: LEI SU: ERN

LM-JH -- SE003 -- 8249 02/19/93 07:50 EST
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Publication:PR Newswire
Date:Feb 19, 1993
Words:471
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