La Quinta Continues Strong Domestic And International Franchise Development In First Quarter 2016
Opened five new franchise hotels, representing approximately 650 rooms, including key markets Atlanta Airport and Downtown Monterrey, Mexico
IRVING, Texas -- 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.
"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."
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