Chile will be the first country in the southern cone in La Quinta's expansion strategy in Latin America, with a franchise agreement for an LQ Hotel by La Quinta with the Chilean company Inmobiliaria e Inversiones Profit Summit Limitada. The hotel, which will feature 100 rooms, spacious lobby, fitness center, indoor pool, meeting space and a business center, will open its doors in 2017 in the Pudahuel area, close to Santiago's international airport.
With over 47 years of experience and more than 870 La Quinta Inn & Suites and La Quinta Inn hotels located in the U.S., Canada and Mexico, and with LQ Hotel locations open or in the pipeline in Honduras, Colombia, Guatemala and Nicaragua, La Quinta is extremely pleased and excited about the introduction of the La Quinta brand in Chile.
With a strong focus on strengthening the guest experience and making the guest's stay unforgettable, La Quinta uses quality design and modern interior decorations to surpass today's demanding customer expectations. Over the last 10 years, La Quinta has more than doubled the size of its hotel chain and has been the fastest growing of the hotel brands comprising La Quinta's main competitive set in the United States in terms of percentage growth.
La Quinta also has a guest loyalty program, La Quinta Returns, which offers members free nights and other great rewards like airline miles/points and gift cards/certificates for shopping, dining and entertainment. To date, the program has more than 10 million members, whose hotel stays contributed nearly half of total room revenues across the hotel chain in 2014.
"It's a pleasure and an honor to announce this new stage in the history of our brand. At La Quinta, we understand travel can be challenging. All of our hotels are designed to reinvigorate the business and leisure traveler's day and help them find their inner optimism with our attractive amenities, friendly service and great quality," said Rajiv Trivedi, Chief Development Officer for La Quinta. "Furthermore, we understand that our franchisees require a significant return on their investment and we are constantly working to meet that goal. In the last two years, nearly 50 percent of our new franchise agreements have been with groups or individuals who already have ownership interests in one or more La Quinta Inn & Suites or LQ Hotels."
Antonio Yong, President of Inmobiliaria e Inversiones Profit Summit Limitada, commented that under La Quinta's franchise model, "La Quinta supports us with all the tools we need to succeed and increase the value of our investment. La Quinta has created a program unlike any other franchised brand. In part, this is due to the fact that they listen to their franchisees and apply years of lodging experience so both can grow together."
La Quinta Holdings Inc. (NYSE: LQ) is a leading owner, operator and franchisor of select-service hotels primarily serving the upper-midscale and midscale segments. The Company's owned and franchised portfolio consists of more than 870 hotels representing over 86,000 rooms located in 47 U.S. states, Canada, Mexico and Honduras. These hotels operate under the La Quinta Inn & Suites™, La Quinta Inn™, and LQ Hotel™ brands. La Quinta's team is committed to providing guests with a refreshing and engaging experience.
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