La Quinta Partners with Local Hotel Operator, Grupo TAO, to Expand in Colombia
Plans to Break Ground in Medellin for the First of Three New Hotels in the Country
February 28, 2012 - La Quinta Inns & Suites announced its expansion into Colombia, its fourth country outside the United States and second in South America, in a continuation of its aggressive international growth strategy. The announcement was made with Grupo TAO, an experienced hotel owner and operator based in Medellin, at the 2012 La Quinta Conference here.
Rajiv Trivedi, La Quinta's Executive Vice President and Chief Development Officer said, "We are happy to announce this agreement and even more delighted to do so with our franchise partner Group TAO by our side here at the 2012 La Quinta Conference." He concluded, "Having just made public the news that La Quinta is the fastest growing select service brand in the hotel industry, we are proud to showcase our international development as an important component of that growth. We are thrilled to partner with Luis Fernando Toro and Group TAO to bring La Quinta to Colombia, an exciting market in a dynamic region in South America."
Luis Fernando Toro said, "We are proud and happy to partner with La Quinta at this important moment in the brand's expansion. It is also an exciting and promising time to be building in Colombia." He concluded, "We look forward to introducing La Quinta to travelers in Colombia and delivering the outstanding product, service and guest experience that is the hallmark of the brand throughout the Americas."
Based in Medellin, Grupo TAO is an experienced and respected development company that has decades of experience in the hospitality and real estate industries. In 2007, Grupo TAO introduced the Holiday Inn Express brand to Colombia with a property in Medellin.
"As I have said many times before, La Quinta's growth is a testament to our commitment to guest satisfaction and the relationship we have with our partners," said Wayne Goldberg, La Quinta's President and Chief Executive Officer. He concluded, "We are very happy to announce new our partnership with Grupo TAO. We look forward to working together toward an exciting introduction of the La Quinta brand into Colombia in the months ahead."
Continuing its 2012 La Quinta Conference in New Orleans this week, La Quinta emerges from another exciting year of growth in 2011. In addition to being recognized as the fastest growing select service brand over the past decade by Smith Travel Research, the brand opened three hotels in Mexico in 2011, bringing the total in Mexico to five. It expects to double that number in the coming months. La Quinta also built out its international infrastructure through the appointment of a new director of franchise development for Central and South America in 2011 and it recently announced the opening of two new hotels in Ontario, Canada.
Additional announcements highlighting the brand's international growth are expected later in coming weeks.
About 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 830 La Quinta Inn & Suites™ and La Quinta Inn™ branded hotels representing approximately 84,000 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