La Quinta Appoints Wayne Goldberg President and CEO, Alan Tallis President and CDO
Hotel Company Plans Major Capital Investment and Aggressive Growth
DALLAS, TX, January 25, 2006. La Quinta announced that Wayne B. Goldberg has been appointed President and Chief Executive Officer and Alan L. Tallis has been appointed President and Chief Development Officer to lead the company following the close of the acquisition by affiliates of The Blackstone Group on January 25, 2006. Mr. Goldberg will direct the company on a day-to-day basis and will have responsibility for all company-owned assets and corporate support departments. Mr. Tallis will oversee all acquisitions, development and franchising activities for both the La Quinta and Baymont brands in support of the company's aggressive growth strategy going forward.
Jonathan D. Gray, Senior Managing Director and Co-Head of Blackstone's Real Estate Group, said, "We are delighted to welcome the appointments of Wayne and Alan, two hotel industry leaders with demonstrated talent and strength. Both of these individuals were pivotal in leading La Quinta Corporation prior to the acquisition. We expect that under their leadership, the company will continue to outperform its competitors and will grow aggressively."
Mr. Goldberg has more than 27-years experience in the lodging industry. Prior to joining La Quinta in 2000 Goldberg held executive management positions at Red Roof Inns, Inc. and BridgeStreet Accommodations where he served as Chief Operating Officer.
Mr. Tallis is a 26-year veteran of the lodging industry. He joined La Quinta in 2000, most recently serving as Executive Vice President, Chief Development Officer and President of Franchising. He previously held executive management positions at Red Roof Inns, Inc. including General Counsel and Executive Vice President-Development.
"Following the acquisition, we will continue to build and develop our lodging business, by investing in our properties, exceeding guest's expectations and making La Quinta a great place to work," said Mr. Goldberg.
"We will continue aggressive growth of our company through a combination of quality acquisitions, new development and franchising. Under Blackstone's leadership, we are especially interested in pursuing new acquisition opportunities and we will move quickly to assess the best opportunities available," added Mr. Tallis.
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