La Quinta Inns & Suites Outpaces Growth of Competitors Over the Past Ten Years
Dallas, TX (PRWEB) May 29, 2013
According to 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.
Over the past decade, more than 50% of La Quinta?s growth was from new construction locations. Today, La Quinta?s burgeoning pipeline includes nearly 150 additional locations, with more than 80% of these being new construction. This will soon grow the brand to almost 1,000 hotels.
Rajiv Trivedi, La Quinta?s Executive Vice President and Chief Development Officer, said, ?The data from Smith Travel Research reinforces the strength of the La Quinta brand and its unique value proposition during a ten-year period that included very difficult times as well as good times.? He concluded, ?As we approach 1,000 La Quinta locations, we want to thank our franchise partners who have enabled this growth and with whom we continue to see huge opportunities for the brand?s growth in the U.S. and internationally.?
In the past five years, La Quinta has executed an aggressive international franchising program which now boasts five hotels opened in Mexico with another three expected to open in Mexico before year?s end. The brand is also looking to Canada for further expansion in North America with new franchise agreements.
In Central and South America, there is a hotel under construction in Medellin, Colombia and development is underway on a hotel of more than 100 rooms in Tegucigalpa, the capital city of Honduras. La Quinta has development agreements in place for additional branded hotels in Colombia and Honduras, as well as Nicaragua, Guatemala and Panama.
?La Quinta’s continued growth is a testament to our commitment to excellence in every facet of hotel ownership and operations,? said Wayne B. Goldberg, La Quinta?s Chief Executive Officer and President. ?We are unique as an owner/operator with skin in the game. We don?t ask our partners to do anything we haven?t already done first. We are proud of our growth, our product and our people.?
[box type=”tick”]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 830 hotels in 46 states, Canada and Mexico under the La Quinta Inn? and La Quinta Inn & Suites? brands.[/box]