Press Releases

RLHC Completes Mortgage Refinancing and Forms Joint Venture for Hotel RL Baltimore

RLHC (Red Lion Hotels Corporation) (NYSE:RLH) announced today that its subsidiary, RL Baltimore, LLC, has entered into a $13.3 million mortgage loan from PFP Holding Company IV LLC, an affiliate of Prime Finance, to refinance the purchase capital for its previously acquired Hotel RL Baltimore Inner Harbor. Subsequent to the loan agreement, RLHC completed a joint venture agreement selling an initial 21 percent equity stake in RLS Balt Venture LLC, the parent to RL Baltimore, LLC, to Shelbourne Falcon Charm City Investors LLC ("Shelbourne"). The loan and the joint venture agreement recapitalize the original purchase of the property by RL Baltimore and provide additional funds to complete the final renovations for this adaptive reuse project, which is on schedule to open in early August 2015.

Carlson Announces Retirement of President and CEO Trudy Rautio

Carlson, a global hospitality and travel company, today announced that Trudy Rautio, president and chief executive officer, will retire from the company effective May 1, 2015, after 18 years of service. During Rautio's tenure as Carlson CEO, the company achieved key milestones including launching two new hotel brands with Radisson Red and Quorvus Collection; the sale of the iconic TGI Fridays brand as well as acquiring 100 percent ownership of Carlson Wagonlit Travel (CWT), the world's leading business travel management company.