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La Quinta Inns & Suites Achieves Record Growth in First Half of 2008
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Highlights include more than 70 new franchise agreements, a burgeoning pipeline and the
highest percentage of new construction properties opened in the first half of any year
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La Quinta’s rapid franchise growth is expected to continue in the second half of 2008

DALLAS (Aug. 11, 2008) – La Quinta Franchising, the top franchise organization in the hotel industry, achieved record-breaking growth in the first half of 2008 and anticipates continued success in the second half of the year. Here is a summary of the record-breaking numbers:

  • The brand executed 72 new franchise agreements through the end of June 2008, of which 82% were for new construction properties.
  • The pipeline for new agreements is more robust than ever with 246 locations, of which 97% are for Inn and Suites and more than 92% are for new construction properties. 
  • Within the pipeline, close to half of the properties have already commenced construction and are expected to open within the next twelve months. 
  • RevPAR growth for Inn & Suites has remained strong with a growth of about 4% year to date. As well, these properties consistently perform above their direct competitors, maintaining RevPAR Indexes that exceed 100% each month.  
Rajiv Trivedi, La Quinta’s Executive Vice President for Franchising, said, “We are proud to announce these results, demonstrating once again the strength of the La Quinta brand in the marketplace, even amidst the uncertain economic conditions of the past months.”  He concluded, “We are looking forward to continuing the positive momentum during the remainder of 2008.”

The results follow a year in which La Quinta was recognized as the fastest-growing brand in the entire hotel industry (2007) and its franchising program has been cited for two-years running as providing the best Return on Investment (ROI) for franchisees. 

La Quinta’s franchising program was launched in 2001 and since then has signed more than nearly 600 franchise agreements. The brand has grown to more than 650 hotels with another 246 in the pipeline. Its rapid pace of growth makes La Quinta a top franchise choice and the industry leader in the mid-market segment.

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 650 hotels in 45 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.

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Contact:

Michael Frenkel
President
M Frenkel Communications, Inc (MFC PR)
230 Park Avenue, Suite 1000
New York, NY 10169
(212) 808-6556
(212) 499-2671 (f)
www.mfcpr.com
 

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