Red Lion Hotels (RLH) Misses Q3 EPS by 16c; Reduces RevPAR guidance for 2011
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Red Lion Hotels (NYSE: RLH) reported Q3 EPS of ($0.01), $0.16 worse than the analyst estimate of $0.15. Revenue for the quarter came in at $46.2 million versus the consensus estimate of $51.23 million.
The company is reducing its RevPAR guidance for 2011, previously provided on May 5, 2011, based on the outlook for the markets in which the company operates and information available today:
Full year 2011 RevPAR for comparable company owned and leased hotels is expected to increase 1 to 3 percent over 2010 on an annual basis; The company expects to invest approximately $10 million in capital improvements in 2011.
The company is reducing its RevPAR guidance for 2011, previously provided on May 5, 2011, based on the outlook for the markets in which the company operates and information available today:
Full year 2011 RevPAR for comparable company owned and leased hotels is expected to increase 1 to 3 percent over 2010 on an annual basis; The company expects to invest approximately $10 million in capital improvements in 2011.
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