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Signing 25 New Franchise Agreements - La Quinta and Baymont Franchise Growth on Track for 2005, With the Pipeline Active in All Parts of the Country |
| DALLAS (May 5, 2005) � La Quinta Corporation�s (NYSE:LQI) first quarter
franchise growth was strong with 25 new franchise agreements and a robust
pipeline of new construction and conversion hotels coming on line for both
the La Quinta and Baymont brands. New construction properties in the pipeline
range from Augusta, GA to Joplin, MO to Inglewood, CA.
Alan Tallis, president of La Quinta�s franchising subsidiaries and the Company�s executive vice president and chief development officer, said, �The performance of our franchising group in the first quarter demonstrates the tremendous interest in the La Quinta and Baymont brands in the marketplace, validating the Company�s growth strategy. We are particularly pleased by the enthusiastic reception given to the Baymont brand.� He concluded, �We will push even harder in the weeks ahead, focusing on aggressive growth for both brands, in core markets as well as emerging markets.� The franchising group�s performance in the first quarter included the signing of a number of high profile properties, including La Quinta�s second New York City hotel in Long Island City (Queens), New York, as recently announced. The Company also completed the integration of all Baymont franchised properties into the La Quinta sales, training and reservation systems. Rajiv Trivedi, La Quinta�s senior franchise development officer, said,
�This quarter is a good springboard for 2005, which is shaping up to be
a strong year for La Quinta�s development program.� He concluded, �We look
forward to announcing additional new franchises in all parts of the country
in the weeks ahead.�
La Quinta Corporation (NYSE: LQI) is one of the largest owner/operators of limited-service hotels in the United States. Based in Dallas, Texas, the Company owns, operates or franchises more than 590 hotels in 39 states and Canada under the La Quinta Inns®, La Quinta Inn & Suites®, Baymont Inn & Suites®, Woodfield Suites® and Budgetel® brands. For reservations or more information about La Quinta Corporation, its brands or franchising program, please visit www.LQ.com. |
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