>SPOKANE, WA, February 16, 2010 – Red Lion Hotels Corporation (NYSE: RLH), a western U.S.-based owner of midscale and upscale hotels, today announced its results for the fourth quarter and full year ended December 31, 2009.
•Fourth quarter RevPAR for owned and leased hotels decreased 7.2%, a sign of slowing RevPAR declines
•Fourth quarter occupancy held steady year-over-year
•2009 EBITDA was $27.6 million before special items, down $3.8 million year-over-year despite a $22.2 million revenue decline
•The Company completed amendments to its credit facility that modified covenants and increased financial flexibility
•The Company recognized an impairment charge of $8.7 million