La Quinta Acquires Eight Hotels in US Northeast

Brand Continues Its Growth Strategy to Increase Market Share and Presence

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. October 14, 2008

FEBRUARY 7, 2007. La Quinta hotels announced it has purchased eight Fairfield Inns from affiliates of Olympus Real Estate Partners to add to its portfolio of corporate-owned hotels. The purchase of these properties will add 1,000 rooms to the chain's more than 65,000 rooms and will further expand La Quinta's distribution in the Northeast region of the U.S.

In addition to the purchase, La Quinta will spend approximately $12 million in capital improvements at the eight properties including upgrades to the guestrooms, lobbies and public areas as well as adding suites to each hotel's inventory.

'In 2006, La Quinta opened a record number of 85 hotels across the U.S.,' said Wayne Goldberg, La Quinta's president and CEO. 'With the addition of these eight hotels, we are excited to be expanding our portfolio in the Northeast region and opening our first hotels in the states of Maine, New Hampshire and Rhode Island. In 2007, we will continue to aggressively grow the La Quinta brand through both corporate acquisitions and franchising with more than 200 hotels opened and 135 hotels in the pipeline.'

Temple Weiss, La Quinta's executive vice president acquisitions and development added, 'We are pleased with our acquisition. These properties fit into our acquisition strategy and exhibit the key elements we look for in a deal. They are high quality assets with strong locations in significant barrier-to-entry markets.'

The newly acquired hotels include:

o 131-room, La Quinta Inn & Suites Baltimore North in Baltimore, MD

o 130-room, La Quinta Inn & Suites Baltimore BWI Airport in Linthicum Heights, MD

o 105-room, La Quinta Inn & Suites Columbia Jessup in Jessup, MD

o 152-room, La Quinta Inn & Suites New Haven in New Haven, CT

o 105-room, La Quinta Inn & Suites Portland in Portland, ME

o 105-room, La Quinta Inn & Suites Salem in Salem, NH

o 158-room, La Quinta Inn & Suites Stamford in Stamford, CT

o 115-room, La Quinta Inn & Suites Warwick in Warwick, RI

Each of these La Quinta Inn & Suites will also participate in the Returns loyalty program that offers a variety of special benefits and the ability to earn points for every dollar spent at La Quinta hotels. Points can be redeemed for free nights and other great rewards including airline miles/credits and stays at LXR Luxury Resorts and Hotels. Guests can enroll at www.yourreturns.com, the front desk of any La Quinta hotel or by calling 1-800-642-42258.arwick