A national hotel chain that recently moved its headquarters to Denver said it wants to get out of the business of owning hotels.
Red Lion Hotels Corp. (NYSE: RLH) said it wants to concentrate on hotel franchising and not owning hotels. It's putting up for sale 11 hotels that it owns that could be sold for as much as a total of $175 million.
Earlier this month, Red Lion sold its entertainment subsidiary, TicketsWest.com Inc., to Paciolan LLC for $6 million.
Now the company said it wants to concentrate solely on franchising.