The good news does not end here, as the first two months of 2008 is off to a strong start. This is still further evidence of the enduring strength of our brand, and our franchise value proposition. The La Quinta growth engine is moving ahead at full speed.
Dallas, TX (PRWEB) March 14, 2008
La Quinta Franchising, the top franchise organization in the hotel industry, helped make La Quinta the fastest growing brand in the hotel industry, according to the 2007 Top Hotel Brands report published in the February 20th issue of Hotel Business magazine,* a leading lodging industry publication.
The survey ranked the top 100 brands in the hotel industry in terms of size (number of total hotel rooms).
In the rankings:
- Among the Top 20 brands in the industry, La Quinta was the only brand to realize greater than 10% year over year property growth - a number it handily eclipsed, by growing more than 16%.
- La Quinta far outdistanced brands in its competitive set - including Hampton Inn, Holiday Inn Express, Comfort Inn and Suites, Fairfield Inn, and Wingate. Among its competitors, La Quinta was the only brand to register double-digit year over year growth.
- During the period of evaluation in the survey, La Quinta added more than 9,000 rooms - more than any brand in the Top 50.
Rajiv Trivedi, La Quinta's Executive Vice President for Franchising, said, "We are delighted to welcome the results of the Hotel Business 2007 Top Hotel Brands Survey, which validate the unprecedented growth of the La Quinta brand, and the unquestionable success of our franchising and development programs. Most impressive, more than 50% of the agreements we signed in 2007, were for franchises of the each Mississippi, and more than 50% were signed by existing La Quinta franchisees."
He concluded, "The good news does not end here, as the first two months of 2008 is off to a strong start. This is still further evidence of the enduring strength of our brand, and our franchise value proposition. The La Quinta growth engine is moving ahead at full speed."
La Quinta's franchising program was launched in 2001, and since then has signed more than 500 franchise agreements. The brand has grown to more than 650 hotels, with another 209 in the pipeline. Its rapid pace of growth puts La Quinta in the same category as the elite franchised brands in all industries -- including McDonald's, Subway, Holiday Inn (in the early days), and others.
Jay Schultz, senior vice president/group publisher of Hotel Business, said, 'We are happy to recognize La Quinta's spectacular growth, a great achievement." He concluded, "The growth is all the more impressive given the many new brands introduced into the mid-market in the past years and the availability of capital to a broad spectrum of brands and franchisees. La Quinta has much to be proud of."
About LQ Management LLC:
LQ Management L.L.C. is one of the largest operators of limited-service hotels in the United States. Based in Dallas, Texas, the Company operates and provides franchise services to nearly 650 hotels in 45 states and 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.