La Quinta Inns & Suites Announces Results For The First Half of 2012
La Quinta’s Mid-Year Numbers Demonstrate Outstanding Year over Year Growth and Business Performance
La Quinta Inns & Suites announced results for the first half of 2012, which include continued outstanding growth in franchise development, openings and brand performance.
In the first half of 2012:
- La Quinta awarded 21 new franchises, an increase of more than 30% over the same period in 2011.
- The brand opened 11 properties, close to double the number opened in the first half of last year.
- RevPAR at La Quinta franchised hotels was up more than 9.4 % over the same period in the previous year.
- Guest satisfaction at those hotels continues at record levels, with numbers rising in every measurement – Satisfied Intent to Return, Product Quality, and Service Quality.
- La Quinta’s system wide mobile revenues increased more than 124% over the first half of 2011.
- Member revenue and member room nights generated from the brand’s La Quinta Returns loyalty program both increased by more than 20%.
- La Quinta Returns member revenue accounted for more than 40% of total revenues into the La Quinta system in the first half of 2012.
Rajiv Trivedi, La Quinta’s Executive Vice President and Chief Development Officer said, “We are proud to share these first half 2012 results, which exceed expectations across many important metrics, and demonstrate the continued strength of our brand, throughout the U.S. and internationally.” Trivedi concluded, “By every measure and on every street corner, La Quinta continues to solidify its position as the premier brand in select service. We look forward to updating the industry on our continuing success in all areas in the second half of 2012.”
La Quinta now has more than 820 hotels across the United States, Mexico and Canada. The brand signed an agreement to bring La Quinta to Colombia earlier this year. It expects continued rapid growth in Mexico, and anticipates announcements of additional international expansion before the end of the year.
“Our first half 2012 results are a source of tremendous pride to everyone at La Quinta,” said Wayne Goldberg, La Quinta’s President and Chief Executive Officer. He concluded, “From franchise growth to technology innovations and new revenue streams, the La Quinta brand is firing on all cylinders. We look forward to sharing much more good news in the months ahead.”
Among other highlights, in the first half of 2012, La Quinta introduced a new feature called “LQ Instant Hold,” which allows travelers to reserve a room for a same night’s stay, using just the user’s mobile telephone number. The company also introduced a new mobile app for the iPhone and Android. LQ Instant Hold can be accessed through the new mobile app. La Quinta achieved a first-half increase of more than 124% in mobile revenues compared with 2011.
La Quinta continues to receive recognition as one of the most innovative brands in the industry, winning awards in training, franchise communications and technology.