La Quinta Continues Strong Domestic and International Franchise Growth in Third Quarter 2016
November 11, 2016 8:47am
IRVING, Texas (November 11, 2016) – La Quinta Holdings Inc. (“La Quinta” or the “Company”) (NYSE: LQ) is pleased to share that during the third quarter of 2016, La Quinta grew its geographic reach by opening 15 new franchised hotels totalling approximately 1,300 rooms and signed 21 new franchise agreements, increasing its development pipeline to 239 hotels totaling approximately 21,800 rooms. La Quinta’s geographically diverse pipeline extends the brand’s distribution into higher RevPAR markets, facilitating its entry into 38 new Smith Travel Research market tracts in the U.S.
La Quinta Inn & Suites locations that opened during the third quarter include:
La Quinta franchise development activity remains strong both domestically and internationally. The 21 new franchise agreements include contracts for new hotel locations in several urban markets including the Gaslamp District in San Diego, California, the Greenway Plaza area of Houston, Texas and the Boca del Rio section of Veracruz, Mexico as well as the leisure destination of Orlando, Florida near SeaWorld. Of the 239 hotels in La Quinta’s development pipeline, 89 percent are comprised of new construction developments.
“We continue to see growth domestically and internationally as we introduce the brand to new business and leisure travelers in North America and Latin America,” said Rajiv Trivedi, La Quinta’s Executive Vice President and Chief Development Officer. “We are thrilled to work with developers and franchisee partners who are embracing our value proposition so we can continue to bring innovation to the hotel marketplace and broaden our geographic reach.”
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La Quinta Holdings Inc. (LQ) is a leading owner, operator and franchisor of select-service hotels primarily serving the upper-midscale and midscale segments. The Company's owned and franchised portfolio consists of more than 890 properties representing approximately 88,000 rooms located in 48 states in the U.S., and in Canada, Mexico, Honduras and Colombia. These properties operate under the La Quinta Inn & Suites™, La Quinta Inn™ and LQ Hotel™ brands. La Quinta's team is committed to providing guests with a refreshing and engaging experience. For more information, please visit: www.LQ.com.
Contact: Teresa Ferguson
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