La Quinta Corporation 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.“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.”
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