La Quinta Inns & Suites (Spanish: ''La Quinta'', "the country villa", ) is a chain of limited service

hotels A hotel is an establishment that provides paid lodging on a short-term basis. Facilities provided inside a hotel room may range from a modest-quality mattress in a small room to large suites with bigger, higher-quality beds, a dresser, a ref ...

in the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territori ...

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Mexico Mexico (Spanish: México), officially the United Mexican States, is a country in the southern portion of North America. It is bordered to the north by the United States; to the south and west by the Pacific Ocean; to the southeast by Guatema ...

, and Honduras. La Quinta Holdings, Inc. first sold shares to the public in April 2014. La Quinta has headquarters in Irving, Texas. As of December 31, 2018, the company owns and operates 914 properties with 89,456 rooms.

History

1968 launch

The first La Quinta Inn location was opened in 1968 by real estate entrepreneur Sam Barshop (1929–2013) and his brother Phil (1935–1998) in

San Antonio, Texas ("Cradle of Freedom") , image_map = , mapsize = 220px , map_caption = Interactive map of San Antonio , subdivision_type = Country , subdivision_name = United States , subdivision_type1= State , subdivision_name1 = Texas , subdivision_t ...

, across the street from the site of

HemisFair '68 HemisFair '68 was the official 1968 World's Fair (or International Exposition) held in San Antonio, Texas, from April 6 through October 6, 1968. Local businessman and civic leader, Jerome K. Harris Sr., coined the name HemisFair and conceived the ...

World's Fair. La Quinta's first headquarters were in San Antonio. In 1999 the company announced it was going to move, transferring over 100 jobs from city to city. The company cited the lack of nonstop flights from

San Antonio International Airport San Antonio International Airport is an international airport in San Antonio, Texas. It is in Uptown Central San Antonio, about north of Downtown. It has three runways and covers . Its elevation is above sea level. SAT averages 260 daily dep ...

as a reason for moving. The company wished to have its headquarters near

Dallas/Fort Worth International Airport Dallas/Fort Worth International Airport , also known as DFW Airport, is the primary international airport serving the Dallas–Fort Worth metroplex and the North Texas Region in the U.S. state of Texas. It is the largest hub for American Ai ...

, a large airport. The company kept around 300 employees who worked in accounting, information systems, and reservations in San Antonio.

2005 Blackstone acquisition

LQ Corporation, the parent company to subsidiary LQ Properties, Inc, announced on November 9, 2005, that it had agreed to be acquired by the private-equity firm

Blackstone Group Blackstone Inc. is an American alternative investment management company based in New York City. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate bu ...

for $3.4 billion in cash and debt. The merger closed on January 25, 2006. At that point, the La Quinta group ranked 13th hotel group worldwide, owned 360 hotels, and franchised 250 under the names La Quinta Inns, La Quinta Inn & Suites, Baymont Inn & Suites, Woodfield Suites and Budgetel (about 65,000 rooms). Blackstone had just bought Wyndham Hotels a few months before, the hotel group that will acquire La Quinta in 2018. In 2011, La Quinta gave up on pay-per-view in-room entertainment to focus on letting customers use their own devices. In 2012, La Quinta launched the Instant hold option, allowing customers to make last-minute reservations with their phone numbers. In 2013, Blackstone started to pave the way for the sale of La Quinta. Up until the 2014 stock offering, all La Quinta properties were owned or franchised by the company's subsidiary La Quinta Properties, Inc., a

real estate investment trust A real estate investment trust (REIT) is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of commercial real estate, including office and apartment buildings, warehouses, hospitals, shopping cente ...

(REIT), which leased the properties back to the parent company. In 2015, La Quinta launched its Del Sol prototype featuring LED lighting, indoor and outdoor pools, and a modernized decoration. In September 2015, the President and CEO Wayne Goldberg stepped down. CFO Keith Cline became the interim CEO.

2018 Wyndham acquisition

On January 18, 2018, Wyndham Worldwide Corporation and La Quinta Holdings Inc. announced they had entered into a definitive agreement under which Wyndham Worldwide will acquire La Quinta's hotel franchise and hotel management businesses for $1.95 billion in cash. The loyalty programs of La Quinta and Wyndham were planned to be combined into a single one. The deal also included that La Quinta's real estate be spun off into a separate company, CorePoint Lodging, a publicly-traded real estate investment trust. Buying La Quinta enabled Wyndham to become the third-largest hotel rooms operator in the world, pipping

InterContinental Intercontinental is an adjective to describe something which relates to more than one continent. Intercontinental may also refer to: * Intercontinental ballistic missile, a long-range guided ballistic missile * InterContinental Hotels Group ( ...

. The acquisition was completed on May 31, 2018 adding over 900 franchised hotel properties to the Wyndham portfolio. In June 2019, La Quinta signed a deal with the Caribbean developer Profusion Group to engage in the rapid development of the brand in the

Dominican Republic The Dominican Republic ( ; es, República Dominicana, ) is a country located on the island of Hispaniola in the Greater Antilles archipelago of the Caribbean region. It occupies the eastern five-eighths of the island, which it shares with ...

(8 locations in 5 years).

Description

La Quinta Inns & Suites in Gillette, Wyoming

''La Quinta'' in some Spanish-speaking countries means "the country place"; it also could mean "mansion".La Quinta Inns, Inc., History
/ref> Room types and settings vary by hotel. The price rate changes daily, and Company-owned hotels are standardized. Franchised hotels vary more. The hotel chain targets middle-income, price-conscious travelers. The reservation cancellation fees are flexible. Most properties have a pool. LQ Management LLC, the owner, has its headquarters in the Las Colinas area of Irving, Texas, near

Dallas Dallas () is the List of municipalities in Texas, third largest city in Texas and the largest city in the Dallas–Fort Worth metroplex, the List of metropolitan statistical areas, fourth-largest metropolitan area in the United States at 7.5 ...

.Fact Sheet
." La Quinta Inns & Suites. Retrieved on March 24, 2010.

References

External links

Official website
{{DEFAULTSORT:La Quinta Inns and Suites The Blackstone Group companies Hotel chains in the United States Wyndham brands Companies based in Irving, Texas Private equity portfolio companies Companies formerly listed on the New York Stock Exchange Hotels established in 1968 1968 establishments in Texas 2014 initial public offerings 2018 mergers and acquisitions