- Opened five new franchise hotels, representing approximately 650 rooms, including key markets Atlanta Airport and Downtown Monterrey, Mexico
- Signed 12 new franchise agreements, growing development pipeline to 232 hotels, representing more than 20,000 rooms
- Geographically diverse pipeline includes 42 new Smith Travel Research market tracts
IRVING, Texas (May 3, 2016) – La Quinta Holdings Inc. (“La Quinta” or the “Company”) (NYSE: LQ) is pleased to announce that franchise interest in La Quinta continues to remain exceptionally strong both domestically and internationally. During the first quarter of 2016, La Quinta opened five new franchise hotels, representing approximately 650 rooms and signed 12 new franchise agreements, growing its development pipeline to 232 hotels, representing more than 20,000 rooms. La Quinta’s geographically diverse pipeline will extend the brand’s distribution into higher RevPAR markets, facilitate its entry into 42 new Smith Travel Research market tracts in the U.S. and add locations in Mexico and Central and South America.
The newly opened hotels include La Quinta Inn & Suites in Luling, Texas; Atlanta Airport North, Georgia; Kearney, Nebraska; and West Monroe, Louisiana; and LQ Hotel by La Quinta in Monterrey, Mexico, which represents La Quinta’s eighth open location in Mexico. The 12 new franchise agreements include contracts for new hotel locations in fundamentally strong markets, including the fairgrounds in Nashville, Tennessee; downtown Chattanooga, Tennessee; the entrance to Disney World in Lake Buena Vista, Florida; and the shoreline in Corpus Christi, Texas. Of the 232 hotels in La Quinta’s development pipeline, 88 percent are new construction.
“La Quinta’s progress in the first quarter of 2016 reflects the Company’s aggressive growth and expansion efforts in all parts of the United States and increasingly, throughout the Western Hemisphere,” said Rajiv Trivedi, La Quinta’s Executive Vice President and Chief Development Officer. “La Quinta’s value proposition for hotel owners and developers has never been stronger. Our pipeline is robust and we look forward to continued growth in key markets in the months ahead.”
