"It is a very important transaction because it enhances our presence in the northeast, which we have been very focused on in the last year," Temple Weiss, EVP of acquisitions and development for LaQuinta, tells GlobeSt.com. "As a result, we are hoping to continue to expand in this market through acquisitions and branding."

In 2006, La Quinta opened 85 hotels across the US, a strategy it plans to continue this year. "In 2007, we will continue to aggressively grow the La Quinta brand through both corporate acquisitions and franchising with more than 200 hotels opened and 135 hotels in the pipeline," says Wayne Goldberg, president and CEO of La Quinta, in a statement.

The deal includes the following hotels: the 131-room La Quinta Inn & Suites Baltimore North in Baltimore; the 130-key La Quinta Inn & Suites Baltimore BWI Airport in Linthicum Heights, MD; the 105-room La Quinta Inn & Suites Columbia Jessup in Jessup, MD; the 152-key La Quinta Inn & Suites New Haven in New Haven; the 105-unit La Quinta Inn & Suites Portland in Portland, ME; the 105-room La Quinta Inn & Suites Salem in Salem, NH; the 158-key La Quinta Inn & Suites Stamford in Stamford, CT; and the 115-room La Quinta Inn & Suites Warwick in Warwick, RI.