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Red Lion Hotel Sells for $71M

SEATTLE-Red Lion Hotels Corp., a hotel company based in Spokane, has sold its Red Lion Hotel on Fifth Avenue in Downtown Seattle to Lowe Enterprises of Los Angeles.

By Bob Howard | Updated on June 15, 2011

SEATTLE-Lowe Enterprises Investors has completed the $71 million acquisition of the 297-room Red Lion Hotel on at 1415 Fifth Ave. from Red Lion Hotels Corp. Brad Howe, CEO of LEI, called the deal an “opportunity to acquire a good property in an urban market that we know well.”

Howe noted that LEI and its affiliates “have made numerous office, hotel and resort investments in the Pacific Northwest for decades.” The Red Lion Hotel, he said, “has an unparalleled Downtown Seattle location and recent renovations to the guest rooms and common areas have upgraded the quality of the property. We will undertake further property renovations and institute new guest, meeting and events programs that will further enhance the value of the property.”

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