La Quinta Signs for Early 2015 Construction Start on Two Hotels in Guatemala and One in Nicaragua
August 13, 2014 5:05am
IRVING, Texas, Aug. 13, 2014 -- La Quinta Holdings Inc. (NYSE: LQ) ("La Quinta" or the "Company"), owner, operator and franchisor of La Quinta Inns & Suites hotels, announced it has signed franchise agreements for new hotels in Nicaragua and Guatemala, marking the Company's entry into those countries.
"Our entry into these two new Central American markets reflects the strength of La Quinta in Latin America and our ability to deliver on this growth objective," remarked Wayne Goldberg, President and CEO of La Quinta. "We see tremendous opportunities for ongoing franchise growth internationally given our existing infrastructure and established brand history."
The Company has signed franchise agreements for three new hotels to be constructed in Managua, Nicaragua, Guatemala City, Guatemala and Quetzaltenango, Guatemala. The hotels are slated to be under construction by early 2015.
"We are excited to expand our relationship with La Quinta, who has proven to be a highly committed, reliable franchise partner, providing us great support in developing our Honduras hotel," stated Elvin Santos, the principal in La Quinta's previously announced Honduras project and the new Nicaragua project, who is also participating in the Guatemala projects. "Our past experience working together with La Quinta made our decision to move forward with new projects in Nicaragua and Guatemala that much easier."
As part of La Quinta's continued international expansion, the Company previously announced that it will also be opening franchised hotels in Honduras and Colombia. The hotel in Tegucigalpa, Honduras is a nine-story modern style building with 112 rooms slated to open in late 2014 or early 2015. The hotel in Medellin, Colombia is expected to open in 2015.
La Quinta has expanded its franchise system by approximately three times since 2006. The Company continues to expand domestically and internationally as demonstrated by the 190 projects in its franchise pipeline.
Tags: la quinta
La Quinta Holdings Inc. (NYSE: LQ) is a leading owner, operator and franchisor of select-service hotels primarily serving the midscale and upper-midscale segments. The Company's owned and franchised portfolio consists of more than 850 La Quinta Inn & Suites™ and La Quinta Inn™ branded hotels representing approximately 85,000 rooms located in 47 states, as well as in Canada and Mexico. 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
Contact: Jason Chudoba
La Quinta Inns & Suites Names J. Sal Icaza New Director of Franchise Development
La Quinta Continues Strong Domestic and International Franchise Growth in Second Quarter 2016
LaQuinta Inns & Suites Partners with Snowball Express, Texas-Based Nonprofit Serving Children of America's Fallen Military
La Quinta Inn & Suites Hotel Opens in Hollister, Missouri
La Quinta Between the Sheets: Above the Clutter Presented by Pete Krainik in Partnership with IBM
La Quinta Continues Strong Domestic and International Franchise Development in First Quarter 2016
La Quinta Holdings Inc. Appoints John Cantele as Chief Operating Officer
LQ Hotel by La Quinta Opens in Aguascalientes
La Quinta Inn & Suites Hotel Opens in Atlanta
La Quinta Inns & Suites Opens in Rockford
La Quinta Inn & Suites Opens in Niagara Falls
La Quinta Inns & Suites Continues Urban Expansion with Hotel Opening in Chicago
La Quinta Inns & Suites Announces the Opening of 2nd New Prototype Design Located in Cedar City, UT
La Quinta Holdings Inc. Appoints Interstate CEO Jim Abrahamson To Board Of Directors
La Quinta Inn & Suites Hotel Opens in Chattanooga
Construction Begins on New La Quinta Inn & Suites Coming to Morgan Hill, CA
La Quinta Holdings Enters Definitive Agreement to Sell 24 Owned Hotels
La Quinta Adds to International Expansion with Opening of First LQ Hotel in Honduras
La Quinta Arrives in Chile with an LQ Hotel Near Santiago Airport
First La Quinta Inn & Suites Hotel Opens in Billings, Montana
Please login or register to post a comment.