City of Juarez, in the State of Chihuahua
DALLAS (June 2, 2005) – La Quinta Corporation (NYSE:LQI) announced it has reached an agreement to bring the La Quinta brand to Mexico, with the development of a La Quinta Inn & Suites in the city of Juarez, in the state of Chihuahua. Developing the property is Plaza Triunfo S.A. de C.V., a Mexican corporation, La Quinta’s first Mexico-based franchisee. The 85-room property in the heart of the business district is expected to open in 2006, with construction expected to commence in the fall of 2005.
Alan Tallis, La Quinta’s president of franchising and executive vice
president and chief development officer, said, “Expansion of the La Quinta
brand into Mexico is extremely opportune at this time. We believe
selective services hotels, like La Quinta, will be most profitable within
the country - and we are proud to be bringing the finest quality American-style
lodging south of the border.” Tallis added, “We are pleased to have concluded
an agreement with Martin Alonso and his team to build the first La Quinta
in Mexico. We are seeking additional opportunities throughout the country
and region, and look forward to sharing more good news as developments
Rajiv Trivedi, La Quinta’s senior franchise development officer, said, “This agreement is an excellent springboard for the La Quinta brand in Mexico, which we believe is a market that is ready for rapid franchised growth.”
About La Quinta
La Quinta Corporation (NYSE: LQI) is one of the largest owner/operators of limited-service hotels in the United States. Based in Dallas, Texas, the Company owns, operates or franchises more than 590 hotels in 39 states and Canada under the La Quinta Inns®, La Quinta Inn & Suites®, Baymont Inn & Suites®, Woodfield Suites® and Budgetel® brands. For reservations or more information about La Quinta Corporation, please visit www.LQ.com.
Michael Frenkel, MFC PR
|Also See:||La Quinta to Open Second New York City Property in Mid-May / April 2005|