Agreements Executed in the Second Quarter,
Franchised Properties Now Account for
Nearly 40% of the La Quinta System
|DALLAS (August 4, 2005) – La Quinta Corporation’s (NYSE:LQI) second
quarter franchise growth was strong with 36 new franchise agreements and
a robust pipeline of new construction and conversion hotels coming on line
for both the La Quinta and Baymont brands. Nine franchise properties were
opened, more than 110 agreements are now in the pipeline, and franchise
hotels now total 230, accounting for approximately 40% of the total number
of La Quinta and Baymont hotels in the system.
Alan Tallis, president of La Quinta’s franchising subsidiaries and the Company’s executive vice president and chief development officer, said, “The performance of our franchising group in the first half of 2005 demonstrates the continued tremendous interest in the La Quinta and Baymont brands in the marketplace, validating the Company’s growth strategy. We are particularly pleased by the continued enthusiastic reception given to the Baymont brand.” He concluded, “We will push even harder in the weeks ahead, focusing on quality aggressive growth for both brands, in core markets as well as emerging markets.”
The franchising group’s performance in the second quarter included the signing of a number of high profile properties and the signing of an agreement to bring the La Quinta brand to Mexico.
Rajiv Trivedi, La Quinta’s senior franchise development officer, said, “The second quarter and first half of 2005 were strong for franchising and 2005 is shaping up to be an outstanding year.” He concluded, “We look forward to announcing continued growth in the weeks ahead.”
About La Quinta
La Quinta Corporation (NYSE: LQI) is one of the largest owner/operators of limited-service hotels in the United States. Based in Dallas, Texas, the Company owns, operates or franchises more than 590 hotels in 39 states and Canada under the La Quinta Inns®, La Quinta Inn & Suites®, Baymont Inn & Suites®, Woodfield Suites® and Budgetel® brands. For reservations or more information about La Quinta Corporation, please visit www.LQ.com.
La Quinta Corporation
|Also See:||La Quinta Appoints Steven A. Schumm as Executive Vice President, Chief Financial Officer / July 2005|
|La Quinta Corporation Names Temple H. Weiss Vice President Development and Acquisitions / July 2005|