Red Lion’s Acquisition of Vantage Hospitality Is Complete
Photo Credit: The Lexington at Jackson Hole in Jackson Hole, Wyo. Red Lion Hotel Corp. completed its purchase of The Lexington's parent company, Vantage Hospitality. Vantage Hospitality
Skift Take
For about $27 million and change, this deal, for 1,000 hotel properties, was definitely a steal for Red Lion.
Well, that was quick.
Red Lion Hotels Corporation has completed its acquisition of Vantage Hospitality for approximately $27 million, one month earlier than expected.
The deal, first announced on Sept. 14, formally closed on Sept. 30. As part of the purchase, Red Lion acquired approximately 1,000 franchise hotel agreements, most of which are for economy hotels, and added 59,000 rooms to its portfolio of 124 hotels. Vantage Hospitality’s 10 brands include Signature Inn, America’s Best Value Inn, Canada’s Best Va
