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La Quinta Inns & Suites Announce Year-End Results

2010 Numbers Exceed Expectations in Quality, Service, Guest Satisfaction and Growth
Position the Brand for an Even Brighter 2011


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.

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Contact: 

Teresa Ferguson
212-492-6937
teresa.ferguson@laquinta.com

Michael Frenkel
212-808-6556
michael@mfcpr.com 
 

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Also See: La Quinta Inns & Suites Announces Mark Heisler as Director of Development for the Midwest / January 2011

La Quinta Inns & Suites Adds Three Hotels in Idaho; Agreement with AmeriTel Inns, Brings La Quinta Brand to Boise, Idaho Falls and Twin Falls / July 2010

Ameritel Planning Two Hotels in Twin Falls, Idaho / July 2006
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