Posted 7/27/2012 - 9:15:39 AM
SPOKANE, WA—Red Lion Hotels Corporation has entered into an agreement to sell the Red Lion Colonial Hotel in Helena, MT to Helena Colonial, LLC.
The 149-room hotel features 15,000 sq. ft. of meeting space. It went for $5.6 million and the close date is July 31, 2012. Helena Colonial, LLC plans to enter into a franchise license agreement with Red Lion Hotels Franchising, Inc. and maintain the Red Lion brand. It is using Stockman Bank to finance the acquisition.