DALLAS (Feb. 8, 2011) –
La Quinta Inns & Suites announced year-end results. In 2010, mature
hotels in the La
Quinta franchise system showed a 3.2% RevPAR increase, along with an
increased
market share of 1.6%. Product quality and service scores topped 90%
according
to Medallia and guest satisfaction reached 87%, among the highest guest
satisfaction levels in the history of the brand.
Additional highlights,
include:
- In 2010, the brand executed 40 new franchise agreements of
which more than 70% were new construction and 100% were for La Quinta
Inns
& Suites.
- More than half of the growth in 2010 came in the Eastern
half
of the U.S., continuing the rapid expansion of the brand into important
urban,
gateway and airport locations. La Quinta now has more than 800
properties and more than 81,000 rooms in
46 states and in Mexico and Canada.
- La Quinta signed multiple international agreements,
continuing the expansion of the brand in Mexico and Central America.
The brand
opened two hotels in Mexico in 2010 and expects to more than triple
that number
in 2011. La Quinta also expects to open its first hotel in Panama in
2011 and
to announce additional franchise agreements for Latin America and South
America.
- In
the past twenty-four months, La Quinta opened 104 hotels in 29 states,
plus
Mexico, for a net growth of 14.6%.
“We are pleased to share our recent results demonstrating La Quinta’s
continued focus on
product growth
with quality -- which provides our guests with
superior guest satisfaction and ensures that our franchise partners
achieve a
superior Return on Investment,” said Rajiv Trivedi, Executive Vice
President
and Chief Development Officer. He concluded, “In a period in which the
hotel
industry turned the corner, not only did our growth accelerate – but we
supported that growth with a singular focus on winning every street
corner. We positioned our partners,
together with our brand, for an even brighter future.”
Wayne Goldberg, President and Chief Executive Officer said, “As
we prepare to greet franchise partners and associates at our annual
brand
conference in just a few weeks, we are proud to recognize La Quinta’s
strong
performance in 2010.” He concluded, “We look forward to sharing our
plans for
2011 at the conference, as we gear up for a year of accelerated growth
and
brand development.”
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 800 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
http://twitter.com/LQ
or become a Facebook fan at
http://www.facebook.com/laquinta.