Red Lion Hotels Launches New Brand Image and Outlines Growth Initiatives
21 9월 2005 - 1:30AM
PR Newswire (US)
New Corporate Name, New Look Reinforce Brand Revitalization
SPOKANE, Wash., Sept. 20 /PRNewswire-FirstCall/ -- WestCoast
Hospitality Corporation (NYSE:WEH) today announced an aggressive
growth plan to expand Red Lion Hotels into over 100 markets in the
next five years. Leveraging its strength in the Western U.S.
market, the initial focus will be to expand the brand into new
cities in California, Arizona, Colorado, Minnesota and Texas. To
reflect its commitment to the revitalized brand and outwardly
portray its new energy, the company is announcing several
significant changes. First, the company has changed its corporate
name to Red Lion Hotels Corporation to clearly emphasize its focus
on the Red Lion brand. At the same time, it is introducing a new
logo and brand image. Red Lion's new company logo, which can be
seen at http://www.redlion.com/, is easily recognizable and
reinforces the strength, vitality and aggressiveness that represent
today's Red Lion. Consistent with these changes, the company is
changing its ticker symbol on the New York Stock Exchange from
"WEH" to "RLH." Red Lion Hotels Corporation will begin trading
under this new ticker symbol on September 23, 2005. The Chairman of
the Board of Directors for Red Lion Hotels Corporation, Donald K.
Barbieri, said "Red Lion has a rich history with travelers
throughout the Western United States. Changing our corporate name
and changing our ticker symbol are visible signs of our commitment
to maximize Red Lion's growth potential." Arthur M. Coffey,
President and Chief Executive Officer, said, "We have spent the
last several years developing our systems and infrastructure to
make our business scalable and efficient. We are seeing positive
results from our investment in infrastructure and the investment we
are making to upgrade our facilities. This provides us with an
excellent platform to capitalize on the significant brand equity
that Red Lion enjoys in the marketplace. Our focus on the Red Lion
brand showcases our singular direction for driving shareholder
value." Hotel Upgrade Program is on Track and Delivering Results
The company's successful rejuvenation of the Red Lion brand is a
springboard for its expansion. Since acquiring Red Lion from Hilton
Hotels Corporation in 2001, the company has focused its energy and
attention on revitalizing the brand. Every aspect of Red Lion has
been refined to accomplish a single goal -- provide guests with the
consistent, genuine service for which Red Lion is known. Along with
its new brand image, Red Lion has elevated its product and service
standards, and has introduced innovative marketing programs,
state-of-the-art technology and comprehensive training tools. In
addition to its service enhancements, the company is investing over
$40 million to upgrade quality and increase comfort in Red Lion
Hotels. This capital improvement program is well underway and is
anticipated to be completed by mid-2006. The result is a
reinvigorated Red Lion brand that will serve as the foundation for
the company's growth. Red Lion Hotels: Revitalized and Poised for
Growth "Our efforts to strengthen Red Lion Hotels are on track and
producing solid results," said Coffey. "Customers are seeing the
changes and responding positively, which is clear from the
consistent increases in our hotel revenue metrics
quarter-over-quarter. We expect this momentum to continue as we
complete the most significant capital improvement program in our
corporate history. With an excellent product, a well recognized
brand and world-class systems, we are now positioned to more
aggressively pursue growth and partnership opportunities." Red Lion
Hotels is initiating a growth strategy that will incorporate a mix
of company owned, joint ventured and franchised hotels. In five
years, the company intends to have Red Lion Hotels in 100 primary
and secondary markets, including the cities of San Francisco,
Phoenix, Los Angeles, Minneapolis, Dallas, Chicago, Albuquerque,
Tucson and Colorado Springs. Red Lion Hotels are currently located
in approximately 50 markets. In support of its growth initiative,
Red Lion offers a franchise program that is competitive, flexible
and offers the tools and support needed to drive a strong return on
investment. The company will feature its franchise program at The
Lodging Conference in Phoenix, Arizona from September 27, 2005 to
September 30, 2005. "We're interested in talking with more hotel
investors. Our increasing Red Lion brand visibility and network
presents an excellent opportunity for hotel owners to work with a
vital and growing brand that has a track record of delivering solid
financial returns," added Coffey. About Red Lion Hotels Corporation
Red Lion Hotels Corporation is a hospitality and leisure company
primarily engaged in the ownership, management, development and
franchising of upper mid-scale, full service hotels under its Red
Lion(R) brand. In addition, through its entertainment division,
which includes its TicketsWest.com, Inc. subsidiary, it engages in
event ticket distribution and promotes and presents a variety of
entertainment productions. G&B Real Estate Services, its real
estate division, engages in traditional real estate-related
services, including developing, managing and brokering sales and
leases of commercial and multi-unit residential properties. This
press release contains forward-looking statements within the
meaning of federal securities law, including statements concerning
plans, objectives, goals, strategies, projections of future events
or performance and underlying assumptions (many of which are based,
in turn, upon further assumptions). The forward-looking statements
in this press release are inherently subject to a variety of risks
and uncertainties that could cause actual results to differ
materially from those expressed. Such risks and uncertainties
include, among others, economic cycles; international conflicts;
changes in future demand and supply for hotel rooms; competitive
conditions in the lodging industry; relationships with franchisees
and properties; impact of government regulations; ability to obtain
financing; changes in energy, healthcare, insurance and other
operating expenses; ability to sell non-core assets; ability to
locate lessees for rental property and managing and leasing
properties owned by third parties; dependency upon the ability and
experience of executive officers and ability to retain or replace
such officers as well as other matters discussed in the company's
annual report on Form 10-K for the 2004 fiscal year and in other
documents filed by the company with the Securities and Exchange
Commission. CONTACT: Red Lion Hotels Corporation Julie Langenheim,
Investor Relations Manager +1-509-777-6322 CCG Investor Relations
Crocker Coulson, President +1-310-231-8600 ext 103 DATASOURCE:
WestCoast Hospitality Corporation CONTACT: Julie Langenheim,
Investor Relations Manager of Red Lion Hotels Corporation,
+1-509-777-6322, or ; or Crocker Coulson, President, of CCG
Investor Relations, +1-310-231-8600, ext 103, or , for Red Lion
Hotels Corporation Web site: http://www.redlion.com/ Web site:
http://www.westcoasthotels.com/
Copyright
Westcoast Hospitality (NYSE:WEH)
과거 데이터 주식 차트
부터 8월(8) 2024 으로 9월(9) 2024
Westcoast Hospitality (NYSE:WEH)
과거 데이터 주식 차트
부터 9월(9) 2023 으로 9월(9) 2024