In 2014, affiliates of the Blackstone Group spun off the select-service La Quinta brand into a stand-alone, publicly traded company. The company has grown over the years and currently, La Quinta Holdings has a portfolio of more than 880 hotels with almost 250 more in the pipeline. In July, La Quinta filed forms to separate the company’s real estate business from its franchise and management business as CorePoint Lodging Inc. CorePoint will be the only publicly traded U.S. lodging REIT focused on the midscale and upper-midscale select-service segments. La Quinta’s president and CEO, Keith Cline, says that this separation will lead to greater strategic clarity and will allow the two companies to unlock growth opportunities that were previously unavailable.
AT A GLANCE:
» Ownership split (U.S. properties) | 321 corporate-owned or managed and 557 franchised
» Rewards program | La Quinta Returns and La Quinta Returns Military Rewards
» Length of contract | 20 years
» Contact | David Wilner, david.wilner@laquinta.com
| Brand Name | What It's About | Chain Scale | Competitive Set | Franchise Fees | U.S. Properties/States | Global Pipeline |
|---|---|---|---|---|---|---|
| LaQuinta Inns and Suites Since 2001 | Select-service properties designed with longer visits in mind | Midscale to upper-midscale | Comfort Inn, Comfort Suites, Holiday Inn Express, and Hampton | Application: $5,000 Balance of Initial: $50,000 minimum Royalty: 4.5%-5% GRR Marketing: 2.5% GRR | 889/48 | 249 |
