DENVER, June 15, 2018 (GLOBE NEWSWIRE) — RLH Corporation (NYSE:RLH) announced today that funds and accounts managed by Coliseum Capital Management (Coliseum) and accounts advised by Vindico Capital have acquired 3.8 million shares of company stock previously owned by HNA Investment Management LLC. Following the transactions, Coliseum beneficially owns 13.4 percent of RLH and accounts advised by Vindico Capital beneficially own 2.0 percent of RLH.
Coliseum is a private investment company founded in 2005 that invests with a long-term orientation in undervalued companies. Coliseum focuses its capital and effort behind strong management teams and boards, with a willingness to work alongside companies to facilitate further value creation.
“We look forward to working with Coliseum,” said RLH Corporation President & CEO Greg Mount. “We believe we can benefit from their industry experience as we continue to execute the transition of RLH Corporation to a higher margin franchise hotel business with an asset light business model and as we continue to evolve our growth strategies.”
“We believe RLH Corporation offers a strong value proposition to its customers and franchisees, and we are excited to be invested behind Greg and his team,” said Coliseum Co-Founder and Managing Partner, Chris Shackelton. “We firmly support the current operational and strategic game plan, and see tremendous opportunity to create shareholder value over the coming years. As long-term collaborative partners, we look forward to helping management and the board through an exciting transformation.”
To learn more about franchising with RLH Corporation, visit franchise.rlhco.com. We don’t wait for the future. We create it.
About RLH Corporation
Red Lion Hotels Corporation is an innovative hotel company doing business as RLH Corporation and focuses on the franchising, management and ownership of upscale, midscale and economy hotels. The company focuses on maximizing return on invested capital for hotel owners across North America through relevant brands, industry-leading technology and forward-thinking services. For more information, please visit the company’s website at www.rlhco.com.
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