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Red Lion Signs Deal for 314-Room Radisson

ANAHEIM, CA-The deal calls for the Spokane, WA-based hotel chain to acquire the leasehold interest in the Radisson Hotel Maingate-Anaheim.

By Bob Howard | Updated on September 24, 2007

ANAHEIM, CA-Red Lion Hotels Corp. of Spokane, WA has signed a deal to acquire the leasehold interest in the 314-room Radisson Hotel Maingate-Anaheim at 1850 S. Harbor Blvd. from from Lindquist & Craig Hotels and Resorts. The purchase price for the leasehold, which runs through 2107 if all extension options are exercised, was $8 million.

The sale marks the return of publicly held Red Lion to the Southern California market. The company plans to spend approximately $10 million on extensive renovations to the property, which features 5,000 sf of meeting space, a swimming pool, a full service restaurant a lounge and a fitness center. President Alan X. Reay of Irvine-based Atlas Hospitality Group tells GlobeSt.com that the renovations are badly needed. Reay explains that the hotel, built in 1968, needs the renovations to compete with the spate of newer hotels in the area.

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