LQ Management announced on Thursday that it plans to sell 46 of its company-owned hotel properties that no longer meet brand criteria.
Most of the properties are under the La Quinta Inns & Suites brand but 12 are not. The hotels are located throughout U.S. La Quinta’s currently portfolio includes 823 hotels in the U.S., Canada and Mexico and the company did not specify which properties it intends to sell.
LQ Management, Irving, Texas, is currently conducting a valuation of the properties with a third party. After the sale the La Quinta Inns & Suites-branded properties will lose their La Quinta flag.
“This announcement is consistent with the company’s strategy to grow and continuously improve our product offering and guest experience,” said Wayne Goldberg, LQ Management president and CEO. “We look forward to replacing many of these properties with new construction La Quinta Inn & Suites.”