SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
October 22, 2002
Date of Report (Date of earliest event reported)
WESTCOAST HOSPITALITY CORPORATION
(Exact Name of Registrant as Specified in Charter)
Washington 001-13957 91-1032187
(State or Other Jurisdiction (Commission file number) (I.R.S. Employer
of Incorporation) Identification No.)
201 W. North River Drive
Suite 100
Spokane, Washington 99201
(Address of Principal Executive Offices, Zip Code)
(509) 459-6100
(Registrant's Telephone Number, Including Area Code)
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits.
The following exhibit is furnished pursuant to Item 9 hereof and should not
be deemed to be "filed" under the Securities Exchange Act of 1934:
Exhibit No. Exhibit
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99.1 Press Release dated October 22, 2002 announcing the conversion of more than
twenty of the Registrant's hotels to the Red Lion brand
Item 9: Regulation FD Disclosure
On October 22, 2002, the Registrant issued a press release announcing the
conversion of more than twenty of its hotels to the Red Lion brand. A copy of
the press release is furnished as Exhibit 99.1 to this Form 8-K pursuant to this
Item 9.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
WESTCOAST HOSPITALITY
CORPORATION
Dated: October 29, 2002 By: /s/ Arthur M. Coffey
--------------------------------
Arthur M. Coffey
Executive Vice President/
Chief Financial Officer
EXHIBIT INDEX
Exhibit No. Exhibit
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99.1 Press Release dated October 22, 2002 announcing the conversion of more than
twenty of the Registrant's hotels to the Red Lion brand
Exhibit 99.1
Red Lion Hotels Grows the Pride with Conversion of More than
Twenty Hotels Oct 22, 2002
SPOKANE, Wash., Oct. 22 /PRNewswire-FirstCall/ -- WestCoast Hospitality
Corporation (NYSE: WEH) today announced that the Company's Red Lion brand will
have more hotels than at any other time in its history with the conversion of
more than 20 hotels. After nine months of market research and analysis, the
Company has decided to expand Red Lion by converting more than 20 WestCoast
Hotels containing more than 4,500 rooms and approximately 240,000 square feet of
meeting space. The conversions will be completed by February 2003, increasing
the number of Red Lion hotels to more than 65 and further positioning the brand
for national and international growth.
With the conversion of many of its hotels to the Red Lion brand, the WestCoast
Hotels brand will be repositioned, bringing the chain back to its roots of
distinctive properties. The WestCoast brand maintains a strong reputation in the
western states, and under the moniker of WestCoast Signature Hotels the brand
will continue and grow, while serving its customer base with the full array of
support systems that will be enjoyed by the expanded Red Lion brand. However,
some of the marketing focus of the WestCoast Signature Hotels will change to
highlight the unique Signature product.
"In the next three to five years we expect to focus a significant amount of our
growth in the Midwest and Eastern U.S.," explained Don Barbieri, Chairman,
President and CEO of WestCoast Hospitality Corporation. "During our market
research process it was determined that on a broader geographic scale the Red
Lion brand is a better known name, especially as you move further East. In
analyzing the two brands and associations that people have with the names, Red
Lion is regarded as having a strong loyalty and reputation among its customers.
These customers relate to Red Lion's deep history in the hospitality business
marked by delivery of the care, comfort and value that the chain has spent
decades in nurturing. Also, despite the reduced concentration of larger, primary
city properties in the brand today, many people continue to associate the brand
with considerable hotels that it once had. The hotels we are adding will
strengthen that association." The Red Lion brand now averages 160 rooms and just
over 6,000 square feet of meeting space, while the hotels being converted
average more than 200 rooms and almost 11,000 square feet of meeting space.
The Red Lion brand was founded in the 1960's and found success in focusing on 3-
to 4- star hotels. The brand reached a peak of 59 hotels before being acquired
in November 1996 by Doubletree for $1.2 billion. The number of hotels in the
brand decreased during the ensuing four years, as Promus Hotel Corporation
subsequently acquired it, then Hilton Hotels Corporation. During this time, many
of the hotels were converted to the Doubletree brand. Red Lion began to
re-emerge and flourish under Hilton ownership before being acquired in December
2001 by WestCoast Hospitality Corporation.
In the coming months, WestCoast Hospitality Corporation will be announcing the
details of a number of new support programs for both the Red Lion and WestCoast
Signature brands, including the launch of a new state-of-the-art Central
Reservations System and the combination of the guest affinity programs. The
Company continues capital upgrade plans that focus on re-furbishing existing
hotels within the Company's portfolio.
Barbieri stated, "We are making a commitment to our customers, franchisees and
employees to be a progressive Company that delivers caring service and
comfortable accommodations, with more locations from which they can choose. I
believe Red Lion's history, and now its future, speaks very well to this
commitment."
WestCoast Hospitality Corporation owns, manages and franchises hotels in 16
states. WestCoast Hotels and Red Lion Hotels and Inns focus on serving business,
convention and leisure travelers in first, second and third tier markets.
WestCoast provides entertainment services through TicketsWest, including event
ticketing for venues in the United States and Canada, and aggregates content for
travel and entertainment that is sold in real-time at its www.ticketswest.com
website. TicketsWest also includes WestCoast Entertainment, a Broadway and
special event presenting company. G&B Real Estate Services is the real estate
division of WestCoast Hospitality Corporation and owns and manages commercial
and residential properties. Registered trademarks of WestCoast Hospitality
Corporation and its affiliates protect the use of "WestCoast," "Red Lion,"
"TicketsWest" and associated logo designs.
Contact: Stephen Barbieri
Title: VP, Chief Communications Officer
Phone: 1-509-323-7211
Internet: InvestorRelations@WestCoastHotels.com
www.westcoasthotels.com
www.ticketswest.com
www.redlion.com