How much debt was placed in fixed rate financing and what are its terms?
$26.9 million was placed in fixed rate debt during the quarter. $20.8 million is fixed at 8.08% interest for 10 years and $6.1 million is fixed at 8.0% for 10 years. • What is the current potential for new franchise or management contracts? The Company has entered into a letter of intent with Hilton Hotels Corporation to acquire the Red Lion chain of hotels and five Doubletree hotels. One of the attractive aspects of the acquisition is the franchising success of Red Lion and the potential to attract more franchisees. In addition, prior to the acquisition announcement, WestCoast Hotels began an aggressive franchising campaign that included the addition of personnel to the franchise effort and an advertising campaign targeted to hotel owners seeking an alternative to their current flag. The Company believes these two developments will result in the addition of franchisees in the coming year. • What has been the impact of the WestAwards program? WestAwards continues to grow as a source of
