Red Lion Hotels Corporation Buys Historic Baltimore Property, Plans to Reopen it As New Hotel RL
- Dec 08, 2014
Red Lion Hotels Corporation has acquired Baltimore’s historic Keyser Building for $15.7 million. The Spokane, Washington-based hospitality company plans to reopen the property as a Hotel RL, a new brand, which it launched this fall.
The 10-story Keyser Building is located at 207 East Redwood Street, close to many popular attractions, including the Inner Harbor, Camden Yards and M&T Bank Stadium. Renovations are already under way and, according to RLHC, the project is already 70 percent completed. The company will invest an additional $3.5 million to finish redevelopment and renovations.
The future Hotel RL Baltimore Inner Harbor is scheduled to open next summer. It will have 130 guest rooms, 600 square feet of technologically advanced meeting space, an exercise room, a business center, and many signature elements of the Hotel RL brand.
The Hotel RL Baltimore Inner Harbor will not only be RLHC’s first hotel to open under the new brand, it will also be the company’s first property on the East Coast. RLHC said the Hotel RL brand is designed for millennials, adding that the concept was inspired by “the spirit of the Pacific Northwest.”
“The property, with its prime location in a top urban market, is representative of our strategic vision for Hotel RL,” Greg Mount, president & CEO of RLHC,said in a press statement. “The proceeds from our recent asset sales provided us with the cash on hand to execute quickly on a competitive bid process for a key acquisition in Baltimore, one of the top 20 U.S. markets.”
Photo credit: Red Lion Hotels Corporation