RED LION HOTELS CORPORATION (NYSE:RLH) Files An 8-K Completion of Acquisition or Disposition of AssetsItem 2.01. Completion of Acquisition or Disposition of Assets.
EBITDA is defined as net income (loss), before interest, taxes, depreciation and amortization. We believe it is a useful financial performance measure due to the significance of our long-lived assets and level of indebtedness. Adjusted EBITDA is an additional measure of financial performance. We believe that the inclusion or exclusion of certain special items, such as gains and losses on asset dispositions and impairments, is necessary to provide the most accurate measure of core operating results and as a means to evaluate comparative results.
Item 2.01. Financial Statements and Exhibits.
| (b) | Pro Forma Financial Information. |
Attached hereto as Exhibit 99.2 and incorporated by reference herein is unaudited pro forma consolidated financial information of the registrant that gives effect to (i)the sale of the entertainment division as described in the 8-K proforma financials statement filed on October10, 2017, (ii) the sale of the hotels and the entry into the related franchise agreements described in Item 2.01 of this Form8-K, and (iii)the repayment of principal under the registrant’s loan agreement with Pacific Western Bank described in Item 2.01 of this Form8-K.
Red Lion Hotels CORP ExhibitEX-99.1 2 d529777dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 RLH CORPORATION ANNOUNCES SALE OF TWO HOTELS FOR $17.35 MILLION Red Lion Hotels in Redding and Eureka,…To view the full exhibit click here
About RED LION HOTELS CORPORATION (NYSE:RLH)
Red Lion Hotels Corporation (RLHC) is a hospitality and leisure company. The Company is engaged in the franchising, management and ownership of hotels under the brands, including Hotel RL, Red Lion Hotel, Red Lion Inn & Suites, GuestHouse and Settle Inn & Suites (collectively the RLHC Brands). The RLHC brands represent upscale, midscale and economy hotels. The Company’s segments include company operated hotel segment, franchised hotels segment, entertainment segment and other. The hotels segment is engaged in guest room rentals, and food and beverage operations at its operated hotels. The franchised hotels segment is engaged in licensing its brands to franchisees. It offers various programs, which include its reservation system, guest loyalty program, national and regional sales, revenue management tools, quality inspections, advertising and brand standards. The entertainment segment consists of its WestCoast Entertainment and TicketsWest operations.
