DALLAS (October 15, 2009) - La Quinta Inns & Suites, the fastest-growing select service brand in the hotel industry, opened 20 hotels in 11 states during the third quarter of 2009. La Quinta also executed 10 new franchise agreements, continued to enjoy significant increases in guest satisfaction numbers, and expects its strong pace of growth to continue during the remainder of 2009.
Here are highlights of La Quinta's third quarter growth:
Rajiv Trivedi, La Quinta's Executive Vice President and Chief Development Officer said, "La Quinta's results demonstrate that not only is the brand's growth accelerating but that we continue to raise the quality of our product, our guest experience and the percentage of new-build, adaptive reuse and sustainable hotels in the La Quinta system." He concluded, "We continue to innovate, expand, penetrate new markets - and to support our franchisees through the current economic turbulence. We expect to continue to share even more good news in the months ahead."
La Quinta's franchising program was launched in 2001 and since then has signed more than 600 franchise agreements. The brand has grown to nearly 750 hotels with more than 250 in the pipeline. It has experienced rapid expansion throughout 2009, including new franchise agreements and developments in Panama and Mexico. Its rapid pace of growth makes La Quinta a top franchise choice and the industry leader in the mid-market segment. La Quinta was named the fastest-growing brand in the industry in 2008 and was selected as the top brand for franchisee ROI two years running (2007 and 2008).
"Even amidst these challenging times, we attribute La Quinta's strong third quarter performance and positive results to a strong core operating philosophy," said Wayne Goldberg, President and Chief Executive Officer. He concluded, "We are confident there are brighter days ahead for the industry as a whole as we close out 2009 and move into 2010."
About La Quinta
LQ Management L.L.C. is one of the largest operators of limited-service hotels in the United States. Based in Dallas, Texas, the Company operates and provides franchise services to close to 750 hotels in 46 states, Canada and Mexico under the La Quinta Inn® and La Quinta Inn & Suites® brands. For reservations or more information about La Quinta, please visit www.LQ.com or call 1-800-SLEEPLQ. Follow La Quinta Inns & Suites on Twitter at www.twitter.com/LQ or become a Facebook fan at www.facebook.com/laquinta.
Director Communications & Public Relations
LQ Management L.L.C.