La Quinta Holdings (LQ) Reports In-Line Q1 EPS

La Quinta Holdings (NYSE: LQ) reported Q1 EPS of $0.08, in-line with the analyst estimate of $0.08. Revenue for the quarter came in at $248.1 million versus the consensus estimate of $242.73 million.

System-wide comparable RevPAR increased 8.2 percent, ADR increased 4.3 percent and occupancy increased 233 basis points

Wayne B. Goldberg, President & Chief Executive Officer of La Quinta, said, "Our first quarter 2015 results are reflective of our ongoing commitment to deliver enhanced value to all of our stakeholders. We once again delivered strong performance across our key metrics, including growth in RevPAR, franchise units, Adjusted EBITDA, and Adjusted EBITDA margin. The lodging industry remains healthy, particularly in our segments, and the steady economic environment continues to drive strong transient leisure and business travel demand. In the first quarter, we continued to expand our system with the opening of five franchise properties, including our first hotel in Honduras, bringing our system to 870 hotels with approximately 86,700 rooms. This unit growth, along with our increased occupancy, allows our geographic reach and customer base to continue to grow. Franchise interest in the La Quinta brand remains robust and our system growth is supported by an increasing pipeline. We also continued to deliver on a key element of our growth strategy, expanding our brand in urban and central business district locations. I am pleased to announce that in the first quarter we signed new franchise agreements for urban locations in the Chelsea neighborhood of Manhattan, Miami Midtown, and Oklahoma City Bricktown. In addition we signed a franchise agreement for the development of our first hotel in Santiago, Chile. Furthermore, we have continued to de-lever our balance sheet and we remain focused on our strategic objectives, all of which are designed to increase shareholder value."

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

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