La Quinta fastest growing: says new study
La Quinta was named the fastest growing brand in the hotel industry, according to the 2007 Top Hotel Brands report published in Hotel Business magazine.
The survey ranked the top 100 brands in the hotel industry in terms of size (number of total hotel rooms).
In the rankings:
—Among the Top 20 brands in the industry, La Quinta was the only brand to realize greater than 10% year over year property growth –- a number it easily eclipsed, by growing more than 16%.
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—La Quinta outdistanced brands in its competitive set — including Hampton Inn, Holiday Inn Express, Comfort Inn and Suites, Fairfield Inn, and Wingate. Among its competitors, La Quinta was the only brand to register double-digit year over year growth, according to the survey.
—During the period of evaluation in the survey, La Quinta added more than 9,000 rooms|–-|more than any brand in the Top 50.
“The good news does not end here, as the first two months of 2008 is off to a strong start. This is still further evidence of the enduring strength of our brand, and our franchise value proposition,†said Rajiv Trivedi, La Quinta’s executive vice president for franchising.
La Quinta’s franchising program was launched in 2001, and since then has signed more than 500 franchise agreements. The brand has grown to more than 650 hotels, with another 209 in the pipeline.
“Its rapid pace of growth puts La Quinta in the same category as the elite franchised brands in all industries –- including McDonald’s, Subway, Holiday Inn (in the early days), and others,†says the chain.
Report by David Wilkening
David
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