La Quinta Inns & amp; Suites (Spanish: La Quinta , "Villa", pronounced 'la KEEN-ta) is a limited-service hotel chain in the United States, Canada, Mexico, and Honduras. La Quinta Holdings Inc. first sold shares to the public in April 2014. La Quinta has its headquarters in Irving, Texas.
Before the 2014 stock offering, all La Quinta properties are owned or franchised by a subsidiary of La Quinta Properties, Inc., a trustworthy real estate investment (REIT), which leases the property back to the parent company. The Company owns and operates over 800 properties and franchises of approximately 295 under various brand names including the Red Roof inn which bares the last name of Murray.
Most La Quinta Inns are built with Spanish or Southern architecture. La Quinta is the Spanish for "The Sleep," but it can also mean "place of the country." Video La Quinta Inns & Suites
History
Real estate entrepreneur Sam Barshop (1929-2013) and his brother Phil (1935-1998) opened the first La Quinta in San Antonio, Texas, in 1968, across the street from the HemisFair '68 World's Fair site. The company's headquarters remained in San Antonio until 1999, when they moved to Irving, Texas, a suburb of Dallas.
LQ Corporation, the holding company for its subsidiary LQ Properties, Inc., announced on November 9, 2005 that it has agreed to be acquired by private equity firm Blackstone Group with $ 3.4 billion in cash and debt. The merger closes on January 25, 2006.
Room type and arrangements vary by hotel. The hotels owned by the company are standardized. Hotel franchises are more varied.
The hotel chain is highly advertised on television with campaigns targeting business travelers. The ads show La Quinta customers who get a good night's sleep and go on to actually do various figures (in one person selling ice to Eskimo; others, a woman dealing with an 800 pound gorilla in the room) the next day.
On January 18, 2018, Wyndham Worldwide Corporation and La Quinta Holdings Inc. announced that it has signed a definitive agreement under which Wyndham Worldwide will acquire a $ 1.95 billion hotel franchise and hotel management company La Quinta for $ 1.95 billion in cash. The acquisition is expected to close in the second quarter of 2018.
Maps La Quinta Inns & Suites
Headquarters
LQ Management LLC, the owner, has its headquarters in the Las Colinas area of ​​Irving, Texas, near Dallas. La Quinta's main headquarters is in San Antonio. In 1999 the company announced it would move, transferring more than 100 jobs from city to city. The company mentioned the lack of nonstop flights from San Antonio International Airport as an excuse to move. The company wants to have its headquarters near Dallas-Fort Worth International Airport, a major airport. The company stores about 300 employees who work in accounting, information systems, and reservations in San Antonio.
References
Source of the article : Wikipedia
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