SPOKANE, Wash. and CORAL SPRINGS, Fla. — When Red Lion Hotels Corporation entered into a definitive agreement to acquire Vantage Hospitality last month, Canada was an important part of their thought process.
Under the agreement, RLHC will acquire Vantage’s global brands and brand operations for an initial aggregate price of $23 million in cash and 690,000 shares of Red Lion common stock.
It was announced in early October that Red Lion closed its acquisition of Vantage on Sept. 30, a month ahead of schedule.
In an interview with Hotel News Now following the Sept. 13 announcement, RLHC president and CEO Greg Mount said he is particularly pleased with Vantage’s presence in Canada, and that adding more than 30 properties in Canada is a big step for Red Lion. Red Lion currently has one Canadian property, the Red Lion Inn & Suites, in Victoria, B.C.
Vantage’s current leadership and staff in Coral Springs, Fla., will become the hub for all RLHC select service brand operations.
Prior to the acquisition, Red Lion had 113 hotels with 14,200 rooms. With the Vantage portfolio, this will increase to more than 1,100 hotels with 73,200 rooms.
Founded in 1959, Red Lion’s brands include Hotel RL, Red Lion Hotels, Red Lion Inn & Suites, GuestHouse and Settle Inn brands. They acquired the latter two brands in April 2015.
Founded in 1999, Vantage brands include Americas Best Value Inn, Canadas Best Value Inn, Lexington by Vantage, America’s Best Inns and Suites, Country Hearth Inns, Jameson Inns, Signature Inn and 3 Palms Hotels & Resorts brands.
Vantage has 33 Canadas Best Value Inns with a total of 1,579 rooms: 12 in Ontario, four in Atlantic Canada and 17 in Western Canada. There are two Lexingtons, one in Windsor, Ont., and one in Sudbury, Ont.