During this time, franchising had become a popular method of financing the growth of hotel chains because there was often little or no capital investment required by the parent organization. Rather, the parent earned various license and management fees from its franchise in lieu of direct operating profits. However, Barshop was wary of franchising.
Barshop focused on building and operating hotels that were owned entirely, or mostly, by La Quinta Motor Inns, Inc. To fund expansion of the La Quinta chain during the late s and early s, Barshop drew on his real estate and finance background to establish innovative deals that brought investment capital into the organization. In addition to selling stock, he formed joint ventures with well-established financial institutions, particularly insurance companies.
For hotels that it did not own completely, La Quinta would earn fees for developing and managing the properties. The company would also keep a portion of the profits reflective of its ownership share in the projects, with the remainder of the income going to its partner.
La Quinta typically maintained 40 to 80 percent ownership in the projects, although it retained as little as 1 percent of some hotels. Integral to Barshop's financial strategy during the early s was his use of a joint venture to fund the development of a new La Quinta headquarters. Built in to house the hotelier's burgeoning operations, La Quinta Plaza in San Antonio resulted from a joint venture between La Quinta and Israel Fogiel, a local developer.
La Quinta eventually purchased Fogiel's share of the complex during the mids, by which time it was involved in several deals with other investors. By La Quinta had erected 40, or about one-quarter, of the hotels in its chain with the help of its most active partner, Prudential Insurance Company.
While most of its hotels were in Texas and Florida, the company had extended its reach into other regions of the South and Southwest as well. That year, however, Congress passed the Tax Reform Act TRA , which essentially destroyed many of the valuable tax incentives apportioned to investors in commercial real estate projects and served to eventually diminish the liquidity and value of La Quinta's existing properties.
Despite the apparent setback, Barshop characteristically tried to turn the new law into an opportunity. Observers viewed the TRA of as a death knell for the formerly red-hot limited partnership market, in which limited partnerships allowed numerous smaller investors to invest in large development projects through publicly traded shares. However, Barshop became one of the first developers to establish a master limited partnership MLP under the new law. La Quinta continued to operate the properties to garner management fees from the MLP.
Barshop continued to expand the La Quinta chain during and , using capital raised through various means. Those two endeavors produced nine hotels and six restaurants. La Quinta owned only 1 percent of the properties but secured long-term contracts to manage the inns on a fee basis. Between and , La Quinta added a total of about 30 new properties to its holdings, including the properties held by the limited partnership. Steady growth, however, belied serious problems that beset the lodging industry in the Southwest during the late s and early s.
By the end of the s the U. Hoteliers in the Southwest, in fact, had started suffering as early as , and hotel and real estate industries across the United States were enduring the delayed effects of the TRA of Development of new hotels had virtually halted by the end of the decade as overbuilt markets kept investors away.
While the average occupancy rate for hotels plummeted, many of La Quinta's peers struggled to avoid bankruptcy. La Quinta Holdings Inc. LQ is a leading owner, operator and franchisor of select-service hotels primarily serving the upper-midscale and midscale segments. CorePoint Lodging Inc. CPLG is positioned to become the only pure-play publicly-traded REIT focused exclusively on select-service midscale and upper-midscale lodging.
Upon completion of the spin, CorePoint Lodging will own a portfolio of hotels and more than 40, rooms throughout the United States in attractive locations in or near employment centers, airports and major travel thoroughfares.
Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Wyndham Worldwide, Wyndham Hotel Group, La Quinta or CorePoint Lodging to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Wyndham Worldwide and La Quinta undertake no obligation to publicly update or revise any forward-looking statements, subsequent events or otherwise. In connection with the proposed acquisition, a preliminary proxy statement and a definitive proxy statement will be filed with the SEC by La Quinta.
The information contained in the preliminary filing will not be complete and may be changed. The definitive proxy statement will be mailed to the stockholders of La Quinta seeking their approval of the proposed merger.
We undertake no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events. Capuzzi wyndham. Some properties have pools, fitness centers, meeting spaces, and pet-friendly policies, making them ideal for both business and leisure travelers seeking a good value. Website: Hoteltechreport. The agreement is …. Website: Finance.
Category : Use by in a sentence. La Quinta Holdings Inc. LQ is a leading owner, operator and franchisor of select-service hotels primarily serving the upper-midscale and midscale segments. Website: Travelandleisureco.
Category : Use and in a sentence. About Us La Quinta by Wyndham. Website: Wyndhamhotels. Wyndham , We. Website: Fortune. Category : Use for in a sentence. Wyndham , Would. Who owns days inn Meanings. When , Was , Which. La Quinta by Wyndham. Microtel by Wyndham. Ramada by Wyndham. Ramada Encore by Wyndham. Website: Insuranceinsidernews.
Who , What , Which , Wyndham. What hotel chain is La Quinta part of? Discover the bright side of cities with hundreds of hotels across North, Central, and South America. Website: Rhumbarlv.
What , Wyndham , Wherever , With. What hotel chain is la quinta part of Hotel info. La Quinta Returns officially ended at p. ET on April 2, and members were able to earn Returns points up until then. The last day for members to redeem Returns points was by p. ET on March 31, La Quinta hotels officially joined Wyndham Rewards on April 3, What , Were , Was , Wyndham. Hilton, La Quinta owner to buy Motel 6 amid uptick in. Website: Travelweekly.
0コメント