La Quinta Holdings Inc. Accelerates Share Repurchase Program

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Go back to La Quinta Holdings Inc. Accelerates Share Repurchase Program

La Quinta Holdings (LQ) Approves Lighter $100M Common Stock Buyback Plan; Trims FY15 RevPAR Growth Outlook, Updates Guidance

September 17, 2015 4:21 PM EDT

La Quinta Holdings (NYSE: LQ) announced that its Board of Directors has approved a program to repurchase an aggregate of up to $100 million of the Company's common stock, effective immediately. The Company had previously announced a $200 million program which would commence once the Company's net debt to Pro Forma Adjusted EBITDA ratio falls below 4.0 times. However, given recent market activity, the Company and the Board of Directors have decided to accelerate a portion of the program.

"Enhancing... More