La Quinta enters Boston market with purchase of three hotels

DALLAS -- La Quinta Corp., parent company to La Quinta hotels, purchased three Tage Inns from the Tage Inn Corp. for $26 million in cash.

The Tage Inns are located in the Greater Boston area and mark La Quintas first entry into the Boston market.

The hotels are the 181-room Tage Inn in Andover, Mass.; the 89-room Tage Inn in Milford, Mass.; and the 148-room Tage Inn in Somerville, Mass. Plans call for the Somerville property to be rebranded as a La Quinta Inn & Suites. Following renovations, the remaining hotels will be rebranded under the La Quinta and Baymont flags, La Quinta said.

This acquisition is consistent with La Quintas growth strategy to enter key strategic markets, said Francis W. Butch Cash, chairman, president and CEO of La Quinta Corp. These high-quality hotels compliment our current portfolio and underscore La Quintas commitment to increasing market share and brand presence by entering the Boston lodging market.

In July, the La Quinta Corp. purchased the Marcus Corp.s limited-service lodging division, which includes Baymont Inns & Suites, Woodfield Suites and Budgetel, for an undisclosed amount. La Quinta owns, operates or franchises more than 550 hotels nationwide, representing more than 62,000 rooms.

La Quinta said the natural synergies it shares with the Marcus Corp., including their commitment to quality and guest satisfaction, will ultimately benefit the guests that choose La Quinta and Baymont for their lodging accommodations.

To contact the reporter who wrote this article, send e-mail to Michael Milligan at [email protected].


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