Boston, MA 08/14/2014 (wallstreetpr) – The U.S. based La Quinta Holdings Inc (NYSE:LQ)‘s shares reached a dignified position after a successful 2Q result. On Tuesday, the company exposed its performance and financial statistics through the earnings result, which was much ahead from the estimated figures.
La Quinta shares hit all time record due to strong 2Q:
La Quinta Holdings Inc (NYSE:LQ) was able to earn $0.14 per share, which was almost same as the prediction done by the analysts. However, the revenue was $3.92 million more than the estimated and stood at $261.8 million. Furthermore, the net income climbed up from $15.51 million to $17.46 million, within one year. La Quinta’s entire-year EBITDA is now settled at the range of $367 to $372 million while the previous estimation was $362 to $368 million.
Company to cut down debt four times by 2015 end:
In a note to clients, it was mentioned that though La Quinta Holdings Inc (NYSE:LQ) topped the expectations but it was not enough to satiate the already raised investors’ expectations. The company in the first half of this year opened 21 hotels and expects to open another 25 net locations by the second half. In such way, La Quinta can downsize its debt/EBITDA by four times by 2015 year-end.
Agreement of opening hotels:
La Quinta Holdings Inc (NYSE:LQ) is one of the most rapidly growing select-service brands in the nation at present, which in future will gear up the growth and create significant financial figures. Couple of days back, La Quinta, announced that it has signed an agreement for the new hotels located in Guatemala and Nicaragua. It was a significant step for the company to enter into those countries. The company will start the construction work of three hotels by the beginning of 2015.