La Quinta Holdings (LQ) Tops Q2 EPS by 2c

La Quinta Holdings (NYSE: LQ) reported Q2 EPS of $0.17, $0.02 better than the analyst estimate of $0.15. Revenue for the quarter came in at $263.44 million versus the consensus estimate of $259.37 million.

• Grew system-wide comparable RevPAR 1.9 percent and increased franchise and other fee-based revenue 7.9 percent; Excluding the impact of the owned hotels undergoing significant renovation as part of the repositioning effort, RevPAR grew 3 percent
• Increased RevPAR Index by 285 bps, the fourth consecutive quarter of accelerating market share growth
• Opened five franchised hotels, totaling approximately 450 rooms, including downtown locations in Memphis, Tennessee and Baltimore, Maryland
• Invested over $40 million supporting the Company’s owned hotel repositioning strategy, completing 10 projects, including a multi-million dollar refresh of the flagship Chicago downtown location
• Increased franchise pipeline to 250 hotels, representing approximately 23,500 additional rooms, and continued to expand the brand’s footprint with 20 new franchise agreements including locations in Indiana, North Carolina, and Tennessee
• Continued to generate strong cash flow
• Reported Net Income of $16.8 million and Adjusted Net Income of $20.4 million; Net Income per Share was $0.14 and Adjusted Earnings per Share was $0.17

For earnings history and earnings-related data on La Quinta Holdings (LQ) click here.

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