La Quinta Board of Directors Approves Spin-Off of CorePoint Lodging in Connection with Transaction with Wyndham Worldwide

May 9, 2018

IRVING, Texas, May 09, 2018 -- La Quinta Holdings Inc. ("La Quinta" or the "Company") (NYSE:LQ) today announced that its Board of Directors has formally approved the distribution to its stockholders of all of the outstanding shares of common stock of CorePoint Lodging Inc. ("CorePoint Lodging"), which will become the holder of the owned real estate assets previously held by La Quinta. Promptly following the distribution of CorePoint Lodging, La Quinta, which will then continue to hold its management and franchise businesses, expects to complete the previously announced merger (the "Merger") with Wyndham Worldwide Corporation ("Wyndham W...