90 New Properties and More than 16% Year over Year Growth Tops Competition
in the Hotel Business 2007 Top Brands Survey
Dallas, TX – March 14, 2008 – La Quinta Franchising, the top franchise
organization in the hotel industry, helped make La Quinta the fastest growing
brand in the hotel industry, according to the 2007 Top Hotel Brands report
published in Hotel Business magazine,* a leading lodging industry publication.
Rapid Franchise Growth Expected to Continue in 2008
The survey ranked the top 100 brands in the hotel industry in terms
of size (number of total hotel rooms).
In the rankings:
Among the Top 20 brands in the industry, La Quinta was the only brand to
realize greater than 10% year over year property growth – a number it handily
eclipsed, by growing more than 16%.
La Quinta far outdistanced brands in its competitive set - including Hampton
Inn, Holiday Inn Express, Comfort Inn and Suites, Fairfield Inn, and Wingate.
Among its competitors, La Quinta was the only brand to register double-digit
year over year growth.
Rajiv Trivedi, La Quinta’s Executive Vice President for Franchising, said,
“We are delighted to welcome the results of the Hotel Business 2007
Top Hotel Brands Survey, which validate the unprecedented growth of the
La Quinta brand, and the unquestionable success of our franchising and
development programs. Most impressive, more than 50% of the agreements
we signed in 2007, were for franchises of the each Mississippi, and more
than 50% were signed by existing La Quinta franchisees.”
During the period of evaluation in the survey, La Quinta added more than
9,000 rooms – more than any brand in the Top 50.
He concluded, “The good news does not end here, as the first two months
of 2008 is off to a strong start. This is still further evidence of the
enduring strength of our brand, and our franchise value proposition. The
La Quinta growth engine is moving ahead at full speed.”
La Quinta’s franchising program was launched in 2001, and since then
has signed more than 500 franchise agreements. The brand has grown to more
than 650 hotels, with another 209 in the pipeline. Its rapid pace of growth
puts La Quinta in the same category as the elite franchised brands in all
industries – including McDonald’s, Subway, Holiday Inn (in the early
days), and others.
Jay Schultz, senior vice president/group publisher of Hotel Business,
said, ‘We are happy to recognize La Quinta’s spectacular growth, a great
achievement.” He concluded, “The growth is all the more impressive given
the many new brands introduced into the mid-market in the past years and
the availability of capital to a broad spectrum of brands and franchisees.
La Quinta has much to be proud of.”
About LQ Management LLC
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 nearly 650 hotels in 45 states and 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.
*Hotel Business – February 7-20, 2008 issue