Red Lion Hotels is a full-service, midscale hotel brand owned by Red Lion Hotels Corporation. Red Lion competes in the moderate-priced, full-service segment of the lodging industry, along with Holiday Inn, Ramada, and Quality Inn. Its complementary brand, Red Lion Inn & Suites competes in the moderate-priced limited-service segment of the lodging industry, along with Holiday Inn Express, Fairfield Inn, and Hampton Inn. They have 53 hotels in their system with 12,344 total rooms, and 712,687 square feet of meeting space. Business partners Tod McClaskey and Ed Pietz purchased the 89-room Thunderbird Motor Inn in Portland, Oregon in 1959, the first property in what was initially called Thunderbird-Red Lion Inns. In 1984 McClaskey and Pietz sold the chain—which, at the time, had 57 properties—to Kohlberg, Kravis, Roberts & Co. for a reported $600 million.