La Quinta (company)
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La Quinta, Spanish for the villa, is a United States corporation based in Irving, Texas. Its main business is the operation and franchising of limited service hotels under its own La Quinta Inn brand name, as well as the Woodfield Suites brand. The properties are located in the U.S. and Vancouver, Canada.
All properties are owned by the company's subsidiary La Quinta Properties, Inc., a real estate investment trust (REIT), which leases the properties back to the parent company. The company owns and operates about 370 properties and franchises approximately 225 under the various brand names.
History
La Quinta opened its first hotel in 1968 to host guests of the HemisFair '68 World's Fair, in San Antonio, Texas. The company's headquarters remained in San Antonio until 1999 when they were relocated to Las Colinas a suburb of Dallas, Texas.LQ Corporation, 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 for $3.4 billion in cash and debt. The merger closed on January 25, 2006.
Today LQ Management LLC is one of the largest operators of limited-service hotels in the United States with over 500 hotels in 40 US states and Canada operating under the La Quinta Inns® and La Quinta Inns & Suites® brands.
External links
References
- "La Quinta inks $3.4B deal, shares soar". [CNN]. Retrieved Nov. 9, 2005.
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