Red Lion Hotels Corporation Announces Proposed Public Offering Of Common Stock

Red Lion Hotels Corporation (“RLHC" or the "company”) (NYSE: RLH), a growing hospitality company that operates and franchises upscale, midscale and economy hotels, today announced that the company intends to offer and sell shares of its common stock in an underwritten public offering. The company expects to grant the underwriters a 30-day option to purchase additional shares of its common stock to cover over-allotments, if any.All of the shares of the common stock to be sold in the proposed offering will be sold by the company.The proposed offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the final size or terms of the offering.

The company intends to use the net proceeds from the proposed offering for general corporate purposes, which may include pursuing acquisitions and supporting its working capital needs, although no specific acquisitions are currently contemplated.

Craig-Hallum Capital Group LLC and B. Riley & Co., LLC are acting as the joint book-running managers for the proposed offering.

The proposed offering is being made pursuant to a shelf registration statement on Form S-3 that was declared effective by the Securities and Exchange Commission (the “SEC”) on November 21, 2016.A preliminary prospectus supplement and accompanying prospectus related to the proposed offering have been filed with the SEC and may be obtained by visiting EDGAR on the SEC’s website at www.sec.gov, or, when available, by contacting Craig-Hallum Capital Group LLC, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, by telephone at 612-334-6300, or by email at prospectus@chlm.com; or B. Riley & Co. LLC, 11100 Santa Monica Blvd., Suite 800, Los Angeles, CA 90025, by telephone at 888-295-0155, or by email at capitalmarkets@brileyco.com.The final terms of the proposed offering will be disclosed in a final prospectus supplement to be filed with the SEC.

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