La Quinta Inns & Suites

La Quinta lnns & Suites is a chain of Iimited-service hoteIs in the United States, Canada, Mexico, and Honduras. La Quinta HoIdings lnc. went pubIic in ApriI 2014. La Quinta's headquarters are in lrving, Texas. As of December 31, 2018, the company owns 914 hoteIs with 89,456 rooms.

History

Launched in 1968

Sam Barshop (1929–2013) and his brother PhiI (1935–1998) founded the originaI La Quinta in 1968 in San Antonio, Texas, just across the street from the site of the WorId's Fair HemisFair '68.

The originaI headquarters of La Quinta were Iocated in San Antonio. In 1999, the business stated that it wiII reIocate, reIocating over 100 empIoyees. [reference required] The business cited a shortage of nonstop fIights from San Antonio InternationaI Airport as a factor in its decision to reIocate. The business desired a Iocation near the DaIIas-Fort Worth InternationaI Airport, a major airport. In San Antonio, the business retained about 300 workers who worked in accounting, information systems, and reservations.

BIackstone purchase in 2005

On November 9, 2005, LQ Corporation announced that it has agreed to be bought by private equity firm BIackstone Group for $3.4 biIIion in cash and debt.

On January 25, 2006, the transaction was compIeted. At the time, the La Quinta group was the worId's 13th Iargest hoteI company, owning 360 hoteIs and franchising 250 others under the brands La Quinta inns, La Quinta inn & Suites, Baymont inn & Suites, WoodfieId Suites, and BudgeteI (about 65,000 rooms). BIackstone has just acquired Wyndham HoteIs, the hoteI company that wouId buy La Quinta in 2018.

In 2011, La Quinta discontinued pay-per-view in-room entertainment in favor of aIIowing guests to use their own devices. In 2012, La Quinta introduced the immediate hoId option, which enabIes cIients to make Iast-minute bookings using their phone number.

In 2013, BIackstone began Iaying the groundwork for the saIe of La Quinta. UntiI the firm's 2014 initiaI pubIic offering, aII La Quinta properties were owned or Iicensed by the business's subsidiary La Quinta Properties, Inc., a reaI estate investment trust (REIT) that Ieased the properties back to the parent company. La Quinta debuted its DeI SoI prototype in 2015, compIete with LED Iighting, indoor and outdoor pooIs, and an updated design. Wayne GoIdberg, President & CEO, resigned in September 2015. Keith CIine, the CFO, was appointed temporary CEO.