La Quinta Announces Executive Promotions
February 24 2005 - 6:00AM
PR Newswire (US)
La Quinta Announces Executive Promotions David L. Rea Named
President and Chief Operating Officer; Wayne B. Goldberg Named
Executive Vice President of Operations; A. Brent Spaeth Named
Executive Vice President of Corporate Administration DALLAS, Feb.
24 /PRNewswire-FirstCall/ -- La Quinta Corporation (NYSE:LQI) today
announced that David L. Rea has been promoted to President and
Chief Operating Officer. He will continue to report to Francis W.
("Butch") Cash, who will remain the Company's Chairman and Chief
Executive Officer. Mr. Rea will have responsibility for company
owned hotel operations, sales and marketing, information systems,
human resources and administration. The Company will immediately
commence a search for a new Chief Financial Officer to replace Mr.
Rea. (Photo: http://www.newscom.com/cgi-bin/prnh/20050224/DATH022-a
http://www.newscom.com/cgi-bin/prnh/20050224/DATH022-b
http://www.newscom.com/cgi-bin/prnh/20050224/DATH022-c
http://www.newscom.com/cgi-bin/prnh/20050224/DATH022-d
http://www.newscom.com/cgi-bin/prnh/20050224/DATH022-e ) "This
promotion recognizes the tremendous contributions David has made to
La Quinta since joining us five years ago," said Mr. Cash. "His
leadership and experience will be instrumental in continuing to
help grow our company and position us for the future." "I
appreciate the confidence the Board of Directors has shown in me
for the opportunity to assist Butch in leading this outstanding
organization," commented Mr. Rea. "We have great assets, great
brands and great people. I look forward to continuing to work with
Butch and our strong management team to build on our success and
enhance shareholder value." In other management changes, Wayne B.
Goldberg has been promoted to Executive Vice President of
Operations. A. Brent Spaeth has been promoted to Executive Vice
President of Corporate Administration. Mr. Spaeth will also
continue in his role as Senior Franchise Operations Officer. "I am
pleased to also announce the promotions of Wayne and Brent," said
Mr. Cash. "Both of these individuals have greatly contributed to
the success of our company. Their promotions display the depth of
talent and strength of our executive team." Reporting to Mr. Cash
will be the President and Chief Operating Officer; the Chief
Development Officer and President of the Company's franchising
organization; the General Counsel; and the to-be-identified Chief
Financial Officer. "We have some of the best and brightest people
in the lodging industry working at La Quinta," commented Mr. Cash.
"The changes we have made in our executive team demonstrate our
commitment to developing talent within our company to provide
continuity in leadership and the execution of our business plan."
About La Quinta Corporation La Quinta Corporation is one of the
largest owner/operators of limited- service hotels in the United
States. Based in Dallas, Texas, the Company owns, operates or
franchises more than 590 hotels in 39 states under the La Quinta
Inns(R), La Quinta Inn & Suites(R), Baymont Inns &
Suites(R), Woodfield Suites(R) and Budgetel(R) brands. For
reservations or more information about La Quinta Corporation, its
brands or franchising program, please visit http://www.lq.com/ .
http://www.newscom.com/cgi-bin/prnh/20050224/DATH022-a
http://www.newscom.com/cgi-bin/prnh/20050224/DATH022-b
http://www.newscom.com/cgi-bin/prnh/20050224/DATH022-c
http://www.newscom.com/cgi-bin/prnh/20050224/DATH022-d
http://www.newscom.com/cgi-bin/prnh/20050224/DATH022-e
http://photoarchive.ap.org/ DATASOURCE: La Quinta Corporation
CONTACT: investors, Temple Weiss, or media, Teresa Ferguson, both
of La Quinta Corporation, +1-214-492-6600 Web site:
http://www.lq.com/
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