La Quinta Inns & Suites (Spanish: La Quinta, “the country Villa”, pronounced ‘la KEEN-ta) is a chain of limited service hotels in the United States, Canada, Mexico, and Honduras. La Quinta Holdings Inc first sold shares to the public in April 2014. La Quinta has headquarters in Irving, Texas.
Before the 2014 stock offering, all La Quinta properties were owned or franchised by the company’s subsidiary La Quinta Properties, Inc., a real estate investment trust (REIT), which leased the properties back to the parent company. The company owns and operates over 800 properties.
La Quinta in some Spanish-speaking countries means “the country place.
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 site of HemisFair ’68 World’s Fair. The company’s headquarters remained in San Antonio until 1999, when they relocated to Irving, Texas, a suburb of Dallas.
LQ Corporation, parent company to subsidiary LQ Properties, Inc., announced on November 9, 2005 that it had agreed to be acquired by the private-equity firm Blackstone Group for $3.4 billion in cash and debt. The merger closed on January 25, 2006.
Room types and setting vary by hotel. Company-owned hotels are standardized. Franchised hotels vary more.
The hotel chain advertises heavily on television with a campaign that targets business travelers. The advertisements feature La Quinta customers getting a restful night’s sleep and going on to literally perform various figures of speech (in one a man sells ice to an Eskimo; another, a woman deals with an 800-pound gorilla in the room) the next day.
On January 18, 2018 Wyndham Worldwide Corporation and La Quinta Holdings Inc. announced they had entered into a definitive agreement under which Wyndham Worldwide will acquire La Quinta’s hotel franchise and hotel management businesses for $1.95 billion in cash. The acquisition is expected to close in the second quarter of 2018.The company wished to have its headquarters near Dallas-Fort Worth International Airport, a large airport. The company kept around 300 employees who worked in accounting, information systems, and reservations in San Antonio