La Quinta's Record Growth Continues in 2008
La Quinta opens 700th hotel in Madison, Alabama
DALLAS, TX, January 16, 2009 - La Quinta Franchising, the top franchise organization in the hotel industry, continued its record-breaking growth during 2008 in spite of the difficult economic environment, and anticipates continued success in 2009.
La Quinta signed 129 new agreements, more than 80% of which were new construction projects. The brand opened 81 new locations, of which 66 were new construction. The franchise pipeline continues to be robust, with close to 250 properties. In addition, La Quinta opened its 700th hotel in the fourth quarter of 2008, a new construction La Quinta Inn & Suites in Madison, Alabama. The brand now has 708 open locations and more than 74,000 rooms across North America.
Rajiv Trivedi, La Quinta's Executive Vice President for Franchising, said, "We are pleased to announce these results for 2008, demonstrating once again the strength of the La Quinta brand in the marketplace, even amidst the uncertain economic conditions of the past months."
He concluded, "In spite of challenges in the current economic environment, we are committed to continuing the positive momentum and growth during 2009. "
The results follow a year, 2007, in which La Quinta was recognized as the fastest-growing brand in the entire hotel industry, and its franchising program has been cited for two years running as providing the best Return on Investment (ROI) for franchisees.
La Quinta's franchising program was launched in 2001, and since then has signed more than 600 franchise agreements, including multiple projects currently underway in Mexico. Its rapid pace of growth makes La Quinta a top franchise choice, and the industry leader, in the mid-market segment.
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