La Quinta owns, operates and franchises select service hotels, primarily serves the middle and medium segments and its portfolio includes approximately 900 88,500-room properties under the La Quinta Inn -Suites, La Quinta Inn and LQ Hotel brands in 48 states in the United States as well as In Canada, Mexico, Honduras, Colombia and Chile. The company was founded in 1968 and is headquartered in Irving, Texas. La Quinta also offers franchise opportunities. In 2018, the company operates 576 franchises in the United States and 16 franchises outside the country. By the end of 2018, approximately 914 La Quinta hotels were active in the United States, Canada and Latin America, and another 250 in the brand development pipeline. About 35% of La Quinta`s sites are owned by the company, of which about 65% are franchised. Across the system, La Quinta real estate generates an estimated annual turnover of $2 billion. Parsippany, N.J. and IRVING, Texas – Wyndham Worldwide Corporation and La Quinta Holdings Inc.
announced today that they have reached a final agreement under which Wyndham Worldwide will purchase La Quinta`s hotel and hotel business for $1.95 billion in cash. The acquisition is expected to close in the second quarter of 2018. “La Quinta immediately became one of our flagship brands,” said Geoff Ballotti, President and CEO of Wyndham Hotel Group. “It`s an exceptionally strong brand, run by service-oriented employees, who provide some of the highest levels of loyalty in our industry. We expect La Quinta`s customers and franchisees to benefit from our focus on the quality of our first-class products and technology, digital, loyalty and distribution platforms. This acquisition also significantly expands our hotel management business and offers us significant new opportunities to increase our growth in our business. La Quinta announced today that Blackstone Group La Quinta Corporation and La Quinta Properties, Inc. (NYSE: LQI) have completed a $11.25 cash-related buyout by a subsidiary of Blackstone Group. The price corresponds to a premium of 37% compared to yesterday`s closing price… The Quinta Inn – Suites by Wyndham is a modern, high-end hospitality franchise in the expanded wyndham Hotels and Resorts portfolio.
The brand has a focus on business travelers, with hotels positioned in 24 of the top 25 U.S. markets. Owners of a hotel with limited service, the franchisees of La Quinta Inns – Suites offer affordable prices tailored to the specific needs of each guest. Free Wi-Fi, pillow beds and free breakfast are provided. Absent The ownership of the franchise is allowed. (98% of current franchisees are owners/operators) The first hotels to wave the brand`s flag in New Zealand will be located in Auckland and Queenstown under a franchise agreement with Safari Group, Wyndham`s partner in the region. The Quinta Inns – Suites expands its franchise team, Promotes Key Executives La Quinta Inns – Suites has announced executive appointments and promotions to its newly developed franchise service team. Jeff Palla, who is in charge of this team, is promoted to Senior Vice President of Franchise Operations. The members of the newly promoted and appointed La Quinta team are: …
Number of employees required to operate a franchise unit: 20 – 25 Opening of a new 109-room La Quinta Inn-Suites hotel franchise requires a total initial investment of $8,302,253 to $11,745,002, with no security fees for the underlying properties. The conversion and opening of an existing 100-room hotel property in La Quinta Inn – Suites requires a total investment of USD 3,885,409 to USD 6,160,957, excluding real estate costs.