La Quinta...Spanish for "Next to Denny's?" LQ Management is owner of the La Quinta (which is Spanish for the villa) hotel brand. The company has hotels throughout the US (about 45 states), Canada, and Mexico under the La Quinta Inns and La Quinta Inn & Suites brands. LQ Management franchises the majority of its properties. The growing company has more than 800 hotels, which encompass some 65,000 guest rooms; in addition, it has some 200 properties in the development pipeline. La Quinta hotels operate in the limited service, midscale segment. It targets a mix of corporate and leisure travelers. LQ Management is owned by investment firm The Blackstone Group.
LQ Management has benefitted from travelers looking to spend less on hotel stays during the down economy. It also owes its sucess to its strategy of focusing on its core "La Quinta" brand, rather than branching out to include additional hotel banners as its competitors have done. The company owns and operates some 350 hotels, and is rapidly expanding by adding franchises and through corporate development and acquisitions. The brand's international expansion plans are focused on Latin America, including Panama, Mexico, Brazil, and Costa Rica.
The company has also launched two new design prototypes -- an urban and a traditional. Both prototypes were launched to improve efficiency by offering more guest space in a similar square footage. The urban prototype features a more modern and contemporary look for downtown or business district areas. The flat roof design allows for solar panels.
The Blackstone Group paid about $3.4 billion for the company in 2006. Formerly named La Quinta, the company became LQ Management following the acquisition.