WestCoast Hospitality Acquisition of Yakima Property

WestCoast Hospitality Corporation announced today that its subsidiary,
WestCoast Hospitality Limited Partnership, has completed the acquisition
of the Red Lion Hotel Yakima Gateway in Yakima, Washington. Previously,
the limited partnership had controlled the 172-room property through an
operating lease and in September 2003 exercised an option to purchase the
hotel for $6.25 million. The transaction utilized most of the proceeds
from the previous sale of the Red Lion River Inn, located in Spokane,
Washington, which had been reserved to accommodate a Section 1031 tax
deferred exchange. There will be no changes in the operation or name of
the hotel as a result of the acquisition. The Red Lion Hotel Yakima
Gateway is located at 9 North 9th Street, Yakima, Washington 98901.

WestCoast Hospitality Corporation is a NYSE-listed hospitality and leisure
company primarily engaged in the ownership, management, development and
franchising of mid-scale, full service hotels under its WestCoast(R) and
Red Lion(R) brands. In addition, through its entertainment division, which
includes its TicketsWest.com, Inc., subsidiary, it engages in event ticket
distribution and promotes and presents a variety of entertainment
productions. G&B Real Estate Services, its real estate division, engages
in traditional real estate-related services, including developing,
managing and acting as a broker for sales and leases of commercial and
multi-unit residential properties. Registered trademarks of WestCoast
Hospitality Corporation and its affiliates protect the use of “WestCoast,”
“Red Lion,” “TicketsWest” and “G&B” and various derivatives of those
usages.
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