LEI Buys Red Lion Hotel For $71M

Lowe Enterprises Investors(LEI) has acquired theRed Lion Hotel in Seattle for $71 million. The hotelwill continue to operate under the Red Lion name and now be managed byDestination Hotels & Resorts, an affiliate of Lowe Enterprises Investors.

The public sale process was managed byChris BurdettofCB Richard Ellis Hotelsin 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 fromBusiness Wire.