Lowe Enterprises Investors (LEI) has acquired the Red Lion Hotelin Seattle for $71 million. The hotelwill continue to operate under the Red Lion name and now be managed by Destination Hotels & Resorts, an affiliate of Lowe Enterprises Investors.
The public sale process was managed by Chris Burdett of CB Richard Ellis Hotels in Seattle on behalf of Red Lion. LEI will start property renovations to improve the value of the property with the launch of a multi-year capital improvement program.
Click here for the release from Business Wire.