DALLAS (July 16, 2009) - La Quinta Inns & Suites, the top franchise organization in the hotel industry, opened 21 hotels in 12 states during the first half of 2009. La Quinta also executed 36 new franchise agreements including locations in Panama and expects its strong pace of growth to continue during the remainder 2009. In addition, the Company reported another increase in guest satisfaction scores, demonstrating the brand's continuing and increasing appeal to consumers.
Rajiv Trivedi, La Quinta's Executive Vice President and Chief Development Officer said, "We are pleased to announce these first half results demonstrating once again the strength of the La Quinta brand both as a growth story and for the outstanding guest experience our hotels provide in markets across the country and internationally as well." He concluded, "In spite of generally challenging economic circumstances for the industry, we expect to continue to share good news in the months ahead."
In addition to the franchise growth numbers, La Quinta opened a corporate-owned hotel in downtown Chicago in April. This newly constructed/adaptive reuse project includes multiple room layout options, meeting space, a full slate of business amenities and noteworthy "Green" features. La Quinta also unveiled a new Urban Design prototype which has been well received by developers interested in building new La Quinta hotels in markets across the country.
"We are proud of La Quinta's performance in the first half of 2009 and attribute the results to a strong core operating philosophy that we continue to adhere to and which leaves us in a strong position even amidst the challenging operating environment for the industry." said Wayne Goldberg, President and Chief Executive Officer. He concluded, "We look forward to announcing additional new innovations and achievements in the second half of the year."
La Quinta's franchising program was launched in 2001 and since then has signed more than 600 franchise agreements. The brand has grown to more than 730 hotels with more than 250 in the pipeline. 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).
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 more than 730 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.
Director Communications & Public Relations
LQ Management L.L.C.