United Kingdom
United States
Asia Pacific
Sonesta to buy Red Lion Hotels
Red Lion Hotels Corporation is being acquired by Sonesta International Hotels Corp in an all-cash deal worth $90 million.
The transaction has been approved by the RLH Board of Directors, and the deal represents a 30% premium on the current share price.
"We are excited about unlocking shareholder value through this all-cash transaction with Sonesta," said R. Carter Pate, Chairman of RLH.
"After conducting a thorough review of strategic alternatives, the board believes today’s announcement is in the best interest of all of Red Lion’s shareholders."
As long as it gets the green light from RLH shareholders, the transaction is expected to close in the first half of 2021.
A special meeting to vote on the transaction is planned but no date has been disclosed yet.
RLH will then become a privately-held company.
RLH Corporation operates several brands under franchising agreements including Hotel RL, Red Lion Hotels, Red Lion Inn & Suites, Signature Inn, GuestHouse Extended Stay, Americas Best Value Inn, Canada’s Best Value Inn and Knights Inn.
Written by Ray Montgomery, US Editor
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Mark Jaronski of Explore Georgia on FIFA World Cup 2026
Connecting Small Businesses to Global Tourism Markets: Nate Huff of Tourism Exchange
North Carolina’s Resilience: Wit Tuttell on Recovery and Tourism
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
BA suspending all Heathrow to Abu Dhabi flights
Turkish Airlines flight in emergency landing after pilot dies
Unexpected wave rocks cruise ship
Woman dies after going overboard in English Channel
Foreign Office issues travel advisory for winter sun destinations