Red Lion Hotels — Corporate Update (April 2020)
7 slides from Red Lion Hotels's corporate update, Apr 2, 2020
Slide 1: RLH Corporation Investor Update
RLH Corporation Investor Update April 2, 2020 Exhibit 99.2
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements within the meaning of federal securities law, including statements concerning plans, objectives, goals, strategies, projections of future events or performance and underlying assumptions (many of which are based, in turn, upon further
Slide 3: Back to basics: Focus on core franchise business
Back to basics: Focus on core franchise business To improve franchise relations, retention and growth, RLHC launched campaign ROAR: R Recruit new franchises and sell to existing franchises O Onboard and open as quickly as possible A Add value with operations, training, purchasing, revenue management
Slide 4: Initiatives related to COVID-19 impact
Initiatives related to covid-19 impact Due to the increasing challenges from the COVID-19 pandemic, RLHC implemented several initiatives. Accelerated its cost reduction program, including: A reduction in workforce, executive, staff and Board compensation reductions Closing the Spokane office The sus
Slide 5: Organizational and Board Changes
ORGANIZATIONAL And Board CHANGES The Company announced several organizational changes. Nate Troup was promoted to Chief Financial Officer; previously Mr. Troup was the Company’s Chief Accounting Officer Julie Shiflett, existing Chief Financial Officer is leaving the Company to pursue other interests
Slide 6: Cost saving initiatives
Cost saving initiatives The Company has implemented additional measures as part of an accelerated cost-cutting program. A reduction in force. Reducing its corporate workforce by roughly 40% to approximately 100 full-time equivalent employees. After this reduction, the Company has reduced 48% of the
Slide 7: Additional updates
Additional updates Liquidity Update Remaining mortgage of $5.6m on Hotel RL JV-property in Olympia, WA Company closed February with cash balance in excess of $35m, and no corporate debt Suspending new contract signings guidance Prior to the escalation of the pandemic, the Company was seeing a resurg