La Quinta Corporation

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International Guild of Hospitality & Restaurant Managers

La Quinta Corporation L NYSE: LQI

La Quinta Corporation is a limited service lodging company providing clean and comfortable guest rooms in convenient locations at affordable prices. The Company owned and operated 220 La Quinta Inns and 72 La Quinta Inn & Suites representing approximately 38,000 rooms in 28 states as of December 31, 2001. In addition to owning and operating its hotel properties, the Company began, in late 2000, to license the use of its proprietary brand names, including La Quinta, La Quinta Inns and La Quinta Inn & Suites in return for royalty and other fees through license agreements with franchisees. As of December 31, 2001 , its franchisees operated eight La Quinta Inns and three La Quinta Inn & Suites representing approximately 1,000 rooms under its brands.

La Quinta's typical, Company-owned La Quinta Inn and La Quinta Inn & Suites contain, on average, approximately 130 guest rooms averaging 300 square feet in size. Its room amenities include 25-inch remote control televisions with expanded free television channel choices, movies-on-demand, interactive video games, in-room coffee makers, hairdryers, irons and ironing boards and data port telephones for computer connections. In addition to standard rooms, La Quinta Inn & Suites offer King Plus Extra rooms and deluxe two-room suites with microwaves and refrigerators.

The Company's hotel amenities include complimentary continental breakfast, free unlimited local telephone calls, a swimming pool, same-day laundry and dry cleaning, fax services, 24-hour front desk message service and free parking. In addition, at La Quinta Inn & Suites the Company provides additional services including a fitness center, expanded continental breakfast and a courtyard with gazebo and spa.

As of December 31, 2001, LQ Corporation, through its subsidiaries, leased 288 properties from LQ Properties and managed a total of 292 hotels. LQ Corporation's activities are conducted primarily on real estate either leased or subleased from LQ Properties. Additionally, subsidiaries of LQ Corporation held investments in four lodging facilities as of December 31, 2001.

The Company's current direct competitors include national chains, which operate in the mid-scale without food and beverage segment, such as Hampton Inns, Fairfield Inns, and Comfort Inns. In certain locations, its hotels also compete with mid-scale properties with food and beverage services, such as Ramada Inns, Holiday Inns and Hilton Garden Inns.

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The data included within the Financial section is solely for information and does not construe a recommendation and/or endorsement by IGHRM or its members to invest funds with any of the companies listed. You are strongly advised to obtain professional advice with qualified individuals or corporations for any investments of funds.

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