The intent to sell the assets was announced Thursday. While declining to specify which assets would

PHOENIX LQ Management LLC s decision to put 46 corporate-owned assets on the trading block isn t a precursor military discount rental cars to the company being sold by parent Blackstone Group LP, nor is it an indicator that La Quinta plans to enter the so-called asset-light model that many other global hotel companies have adopted during the past decade. The potential sale of the assets is simply something the Irving, Texas-based military discount rental cars company wants to do to keep its portfolio relevant, according to Wayne Goldberg, president and CEO.
This is not a fire sale, it s not something we have to do, Goldberg said. It s something we ve wanted to do for a long time but couldn t because of our debt structure. We ve restructured that debt to allow us to pull the trigger on selling these assets military discount rental cars that no longer meet our ownership criteria.
The intent to sell the assets was announced Thursday. While declining to specify which assets would go on the block, Goldberg confirmed 34 are exterior-corridor La Quinta Inn properties. The other 12 are non-La Quinta branded assets the company has collected over the years. He declined to reveal the sales price for the assets, military discount rental cars but said collectively they are valued at a couple of hundred million dollars.
It s very in line with our strategic direction, which is improving military discount rental cars our product, he said, adding military discount rental cars that once the assets are sold the average age of the remaining military discount rental cars 777 properties in the La Quinta system would be less than 10 years old.
Company executives discussed other options for the properties before deciding to sell. Goldberg said one plan that briefly was considered was to convert the properties to the Wellesley Inn or Woodfield Suites brands both of which La Quinta controls.
What I know for sure is if you take a La Quinta flag off the building, they re typically impacted more than you would expect, he said. We decided to remove the risk component and divest the assets entirely so we can focus on having a strong, single, stand-alone brand.
You can either stay with the new owners of said sold property, which are below the standards of what you have been trained with LaQuinta. Also losing military discount rental cars all the time that you have put in for the benefits of being with the corp property. Or you can transfer to other corporate owned properties. No one thought about the standard employee of La Quinta that is not salaried. The ones that work so hard for the company, to now have to drive farther just to keep those hard worked years and benefits on the same pay. While your employees worked so hard for your company, making LaQuinta a better mid scale brand, your employees have now become the downfall of your strategic move.
You are fully responsible for the content you post. The opinions expressed in comments do not necessarily reflect the opinions military discount rental cars of Hotel News Now or its parent company, STR and its affiliated companies.