Former Red Lion Hotel to Reopen Under New Owners

By GlobeSt News Hub

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CONCORD, CA-An East bay hotel is getting ready to open again under new owners. A new group has acquired the former Red Lion Hotel situated on Burnett Avenue in Concord.

As reported by Contra Costa County property records, Fremont-based Leisure Hotel Group has paid approximately $5 million for the 189-room hotel. The prior owners bought the property in 2007 for $11.2 million. Since the hotel was defaulted on a $7.4-million loan, Kearney FE I took control of the property. For the full story, go to San Jose Mercury .

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Categories: West, Sales, Acquisitions/Dispositions, , Development, Scope, San Francisco