La Quinta Inns & Suites Achieves Record-Breaking Growth In Second Quarter 2013
La Quinta Signs 34 New Franchise Agreements and Accelerates Brand’s Growth Along Eastern Seaboard
Dallas, TX (PRWEB) August 01, 2013 - La Quinta Inns & Suites announced results for the second quarter of 2013, which feature rapid growth in franchise development in the U.S. and internationally.
In the second quarter of 2013:
- La Quinta awarded 34 new franchises, far exceeding the number for the same period in 2012.
- More than two-thirds of the new franchises awarded in the first half of 2013 were for new construction properties.
- The La Quinta brand accelerated its growth in the Eastern U.S., announcing new franchises in Springfield, Virginia, Manassas, Virginia, and Lynchburg, Virginia – along with Capitol Heights, Maryland, and Albany, New York.
- Ground was broken on several new hotels, including locations in Texas and North Dakota.
- La Quinta’s international growth continued to accelerate with a hotel now under construction in Medellin, Colombia and development underway on a hotel of more than 100 rooms in Tegucigalpa, the capital city of Honduras. La Quinta is in the process of finalizing franchise agreements for additional branded hotels in Colombia and Honduras, as well as Nicaragua, Guatemala and Panama.
During the first half of 2013, La Quinta opened eight hotels in new locations across the country, and has since added two more – in locations including Boise, Idaho and Tampa, Florida and broke ground on additional locations in the Eastern U.S. such as Brooklyn, New York.
Rajiv Trivedi, La Quinta’s Executive Vice President and Chief Development Officer said, “Our second quarter growth data exceeded expectations and clearly demonstrates the continued strength of the La Quinta brand in key U.S. markets and internationally.”
Trivedi concluded, “The numbers tell the story and the demand for La Quinta in the franchise community is stronger than ever. We look forward to updating the industry on our continuing growth in the second half of 2013.”
“We are delighted to join the La Quinta family,” said Anis Kahn, the La Quinta franchisee in Springfield, Virginia, and Manassas, Virginia. “There are solid reasons La Quinta continues to grow so quickly and we are pleased to participate in that growth as we opened our first La Quinta branded hotel this quarter.”
La Quinta now has more than 800 hotels across the United States, Mexico and Canada. Based on data provided by Smith Travel Research, La Quinta grew faster than any other select service lodging brand in its main competitive set in the years 2002-2012, growing by more than 141% in that period. The data reflected growth for brands in the select service segment which included Holiday Inn Express, Hampton Inn/Suites, Fairfield Inn, and Comfort Inn/Suites.
“We are proud to share these results,” said Wayne Goldberg, La Quinta’s President and Chief Executive Officer. He concluded, “As a leader in the select service segment, La Quinta continues to grow fast, grow smart, and maintain a singular focus on delivering excellence for our franchise partners, our associates, and above all, for our guests.”
Alongside its rapid growth, La Quinta continues to receive recognition as one of the most innovative brands in the industry winning awards and accolades in training, marketing, franchise communications and technology.
About La Quinta
LQ Management L.L.C. is one of the largest operators of select-service hotels in the United States. Based in Irving, Texas, the Company operates and provides franchise services to more than 800 hotels in 46 states, Canada and Mexico under the La Quinta Inn® and La Quinta Inn & Suites® brands. For reservations or more information about La Quinta, please visit http://www.LQ.com or call 1-800-SLEEPLQ. Follow La Quinta Inns & Suites on Twitter at: twitter.com/LQ or on Facebook at: facebook.com/laquinta.