La Quinta 10-Q 30 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 24, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	LQ
Entity Registrant Name	LA QUINTA HOLDINGS INC.
Entity Central Index Key	1,594,617
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		130,721,265

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$ 56,497	$ 109,857
Accounts receivable, net of allowance for doubtful accounts of $4,805 and $4,567	44,121	39,938
Deferred tax assets	34,729	59,746
Other current assets	18,466	11,581
Total Current Assets	153,813	221,122
Property and equipment, net of accumulated depreciation	2,741,490	2,826,248
Intangible assets, net of accumulated amortization	178,744	179,406
Deferred costs, net of accumulated amortization	26,260	28,295
Other non-current assets	12,690	10,636
Total Non-Current Assets	2,959,184	3,044,585
Total Assets	3,112,997	3,265,707
Current Liabilities:
Current portion of long-term debt	17,560	19,001
Accounts payable	35,686	21,447
Accrued expenses and other liabilities	70,707	71,117
Accrued payroll and employee benefits	30,583	35,196
Accrued real estate taxes	19,694	20,570
Total Current Liabilities	174,230	167,331
Long-term debt	1,724,969	1,866,698
Other long-term liabilities	27,972	23,727
Deferred tax liabilities	368,394	399,496
Total Liabilities	$ 2,295,565	$ 2,457,252
Commitments and Contingencies
Equity:
Preferred Stock, $0.01 par value; 100,000,000 shares authorized and none outstanding as of June 30, 2015 and December 31, 2014	$ 0	$ 0
Common Stock, $0.01 par value; 2,000,000,000 shares authorized as of June 30, 2015 and December 31, 2014, 130,957,053 shares issued and 130,721,265 shares outstanding as of June 30, 2015 and 130,778,365 shares issued and 130,695,274 shares outstanding as of December 31, 2014	1,307	1,307
Additional paid-in-capital	1,143,791	1,129,815
Accumulated deficit	(319,604)	(321,083)
Treasury stock at cost, 235,788 shares as of June 30, 2015, and 83,091 shares as of December 31, 2014	(5,201)	(1,532)
Accumulated other comprehensive loss	(5,834)	(3,127)
Noncontrolling interests	2,973	3,075
Total Equity	817,432	808,455
Total Liabilities and Equity	$ 3,112,997	$ 3,265,707

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 4,805	$ 4,567
Preferred Stock, par value	$ 0.01	$ 0.01
Preferred Stock, shares authorized	100,000,000	100,000,000
Preferred Stock, shares outstanding	0	0
Common Stock, par value	$ 0.01	$ 0.01
Common Stock, shares authorized	2,000,000,000	2,000,000,000
Common Stock, shares issued	130,957,053	130,778,365
Common Stock, shares outstanding	130,721,265	130,695,274
Treasury stock, shares	235,788	83,091

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
REVENUES:
Room revenues	$ 236,420	$ 225,524	$ 454,135	$ 414,523
Franchise and other fee-based revenues	26,297	24,130	47,054	42,991
Other hotel revenues	4,937	4,967	9,513	9,731
Revenue from leased and owned hotels	267,654	254,621	510,702	467,245
Brand marketing fund revenues from franchise and managed properties	6,234	5,668	11,292	10,353
Total Revenues	273,888	260,289	521,994	477,598
OPERATING EXPENSES:
Direct lodging expenses	100,002	96,025	197,507	184,354
Depreciation and amortization	44,275	43,251	87,930	84,862
General and administrative expenses	27,654	51,610	60,913	68,612
Other lodging and operating expenses	14,950	16,042	31,957	30,535
Marketing, promotional and other advertising expenses	19,095	17,084	37,804	33,531
Impairment loss	42,498	5,157	42,498	5,157
Loss on sale	4,003		4,003
Operating expenses	252,477	229,169	462,612	407,051
Brand marketing fund expenses from franchise and managed properties	6,234	5,668	11,292	10,353
Total Operating Expenses	258,711	234,837	473,904	417,404
Operating Income	15,177	25,452	48,090	60,194
OTHER INCOME (EXPENSES):
Interest expense, net	(22,191)	(35,805)	(44,962)	(72,765)
Loss on extinguishment of debt, net		(2,030)		(2,030)
Other income (loss)	67	(248)	579	(301)
Total Other Income (Expenses)	(22,124)	(38,083)	(44,383)	(75,096)
Income (loss) from Continuing Operations Before Income Taxes	(6,947)	(12,631)	3,707	(14,902)
Income tax provision	2,380	(4,950)	(1,960)	(5,698)
Recognition of net deferred tax liabilities upon C-corporation conversion		(321,054)		(321,054)
Net Income (Loss) from Continuing Operations, net of tax	(4,567)	(338,635)	1,747	(341,654)
Loss on Discontinued Operations, net of tax				(503)
NET INCOME (LOSS)	(4,567)	(338,635)	1,747	(342,157)
(Income) loss from noncontrolling interests in continuing operations	(96)	57	(268)	(3,764)
(Income) loss from noncontrolling interests in discontinued operations	0	0	0	0
Net (income) loss attributable to noncontrolling interests	(96)	57	(268)	(3,764)
Amounts attributable to La Quinta Holdings' stockholders
Income (loss) from continuing operations	(4,663)	(338,578)	1,479	(345,418)
Loss from discontinued operations				(503)
Net income (loss) attributable to La Quinta Holdings' stockholders	$ (4,663)	$ (338,578)	$ 1,479	$ (345,921)
Earnings (loss) per share:
Basic and diluted	$ (0.04)	$ (2.67)	$ 0.01	$ (2.78)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
NET INCOME (LOSS)	$ (4,567)	$ (338,635)	$ 1,747	$ (342,157)
Cash flow hedge adjustment, net of tax	1,712	(2,536)	(2,707)	(2,536)
COMPREHENSIVE NET LOSS	(2,855)	(341,171)	(960)	(344,693)
Comprehensive net (income) loss attributable to noncontrolling interests	(96)	57	(268)	(3,764)
Comprehensive net loss attributable to La Quinta Holdings' stockholders	$ (2,951)	$ (341,114)	$ (1,228)	$ (348,457)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Treasury Stock [Member]	Additional Paid in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss [Member]	Noncontrolling Interests [Member]	Member's Equity [Member]
Beginning Balance at Dec. 31, 2013	$ 305,253						$ (13,843)	$ 319,096
Net income (loss)	(342,157)				$ (329,707)		3,764	(16,214)
Capital contributions	21,516							21,516
Distributions	(4,354)						(4,248)	(106)
Issuance of common stock	693,221	$ 440		$ 692,781
Issuance of common stock, shares		43,987,500
Equity based compensation	30,975	$ 44		30,931
Equity based compensation, shares		4,403,834
Repurchase of common stock	(936)	$ (1)	$ (935)
Repurchase of common stock, shares		(55,644)
Acquisitions	73,106	$ 44		73,062
Acquisitions, shares		4,348,284
Cash flow hedge adjustment, net of tax	(2,536)					$ (2,536)
La Quinta Predecessor Entities reorganization		$ 780		306,033			17,479	$ (324,292)
La Quinta Predecessor Entities reorganization, shares		78,008,014
Ending Balance at Jun. 30, 2014	774,088	$ 1,307	(935)	1,102,807	(329,707)	(2,536)	3,152
Ending Balance, shares at Jun. 30, 2014		130,691,988
Beginning Balance at Dec. 31, 2014	808,455	$ 1,307	(1,532)	1,129,815	(321,083)	(3,127)	3,075
Beginning Balance, shares at Dec. 31, 2014		130,695,274
Net income (loss)	1,747				1,479		268
Distributions	(370)						(370)
Equity based compensation	12,973	$ 2		12,971
Equity based compensation, shares		178,688
Tax benefit related to equity based compensation	1,005			1,005
Repurchase of common stock	(3,671)	$ (2)	(3,669)
Repurchase of common stock, shares		(152,697)
Cash flow hedge adjustment, net of tax	(2,707)					(2,707)
Ending Balance at Jun. 30, 2015	$ 817,432	$ 1,307	$ (5,201)	$ 1,143,791	$ (319,604)	$ (5,834)	$ 2,973
Ending Balance, shares at Jun. 30, 2015		130,721,265

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
NET INCOME (LOSS)	$ 1,747	$ (342,157)
Adjustment to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	87,801	84,575
Amortization of other non-current assets	376	470
Amortization of intangible assets	475	539
Loss on extinguishment of debt, net		2,030
Interest expense added to long-term debt		18,601
Amortization of long-term debt reduction		(1,532)
Loss (gain) related to casualty disasters	671	(998)
Amortization of leasehold interests	(346)	(252)
Amortization of deferred costs	2,760	5,445
Loss on sale and retirement of assets	4,164
Impairment loss	42,498	5,308
Equity based compensation	12,973	30,975
Excess tax benefits from equity based compensation	(1,005)
Deferred income taxes	(3,622)	3,647
Recognition of net deferred tax liabilities upon C-corporation conversion		321,054
Provision for doubtful accounts	1,045	990
Changes in assets and liabilities:
Accounts receivable	(6,585)	(18,945)
Other current assets	(4,235)	479
Receivables from / payable to affiliates		868
Other non-current assets	(2,430)	(232)
Accounts payable	4,440	482
Accrued payroll and employee benefits	(4,613)	398
Accrued real estate taxes	(876)	(1,875)
Accrued expenses and other liabilities	(508)	15,247
Other long-term liabilities	613	404
Net cash provided by operating activities	135,343	125,521
Cash flows from investing activities:
Acquisitions, net of cash acquired		(77,667)
Capital expenditures	(49,256)	(48,783)
Decrease in restricted cash		103,026
Increase in investments		(10)
Decrease in other non-current assets		210
Insurance proceeds on casualty disasters	4,392	747
Payment of franchise incentives	(30)	(400)
Proceeds from sale of assets	3,092	7,053
Net cash used in investing activities	(41,802)	(15,824)
Cash flows from financing activities:
Proceeds from long-term debt		2,100,000
Repayment of long-term debt	(143,865)	(2,816,590)
Payment of deferred costs		(27,255)
Payment of original issue discount		(10,500)
Proceeds from issuance of common stock, net		697,978
Excess tax benefits from equity based compensation	1,005
Purchase of treasury stock	(3,671)	(936)
Distributions		(106)
Distributions to noncontrolling interests	(370)	(4,248)
Capital contributions		21,516
Net cash used in financing activities	(146,901)	(40,141)
Increase (decrease) in cash and cash equivalents	(53,360)	69,556
Cash and cash equivalents at the beginning of the period	109,857	33,412
Cash and cash equivalents at the end of the period	56,497	102,968
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid during the period	43,875	55,164
Income taxes paid during the period, net of refunds	8,425	2,023
SUPPLEMENTAL NON-CASH DISCLOSURE:
Capital expenditures included in accounts payable	9,027	2,758
Deferred costs included in proceeds from issuance of common stock		4,757
Cash flow hedge adjustment, net of tax	(2,707)	(2,536)
Receivable for capital assets damaged by casualty disasters	$ 2,937	$ 1,574

Organization and Basis of Prese

Organization and Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	NOTE 1. ORGANIZATION AND BASIS OF PRESENTATION Organization Effective April 14, 2014 (the “IPO Effective Date”), La Quinta Holdings Inc. (“Holdings”) completed its initial public offering (“IPO”) in which Holdings issued and sold 44.0 million shares of common stock. Holdings was incorporated in the state of Delaware on December 9, 2013 and, prior to the IPO Effective Date, had no operations. In connection with the IPO, we completed certain transactions including, among others, refinancing our existing debt, acquiring 14 previously managed hotels (the “Previously Managed Hotels”), and contributing the La Quinta Predecessor Entities (as defined below) into Holdings, which resulted in the La Quinta Predecessor Entities becoming owned by a “C” corporation for federal income tax purposes. Lodge Holdco I L.L.C. (“Holdco I”) and Lodge Holdco II L.L.C. (“Holdco II”), each a Delaware limited liability company, were formed on January 4, 2006. Lodge Holdco III L.L.C. (“Holdco III”), a Delaware limited liability company, was formed March 17, 2006. We refer collectively to Holdco I, Holdco II, and Holdco III as the “La Quinta Predecessor Entities”. Since those dates and prior to the completion of our IPO, the La Quinta Predecessor Entities were owned and controlled by Blackstone Real Estate Partners IV L.P. and affiliates (“BREP IV”) and Blackstone Real Estate Partners V L.P. and affiliates (“BREP V”). BREP IV and BREP V are affiliates of The Blackstone Group L.P. (collectivity, the “Funds” or “Blackstone”). As it pertains to the periods prior to completion of our IPO, the accompanying condensed consolidated financial statements include the accounts of each of the La Quinta Predecessor Entities, and all related wholly and majority owned subsidiaries and a consolidated Variable Interest Entity (“VIE”). For these periods, the La Quinta Predecessor Entities have been presented on a combined historical basis due to their prior common ownership and control. In connection with the IPO, the Funds and other pre-IPO owners contributed their equity interests in the La Quinta Predecessor Entities to Holdings in exchange for an aggregate of 81.06 million shares of common stock of Holdings. Holdings then transferred such equity interests to its wholly-owned subsidiary which pledged these interests as security for borrowings under a new credit agreement. As a result, as it pertains to the period subsequent to completion of our IPO, the accompanying condensed consolidated financial statements also include the accounts of Holdings, the Previously Managed Hotels, and all other wholly and majority owned subsidiaries created in connection with the IPO. The combined or consolidated entity presented may also be referred to herein as “La Quinta”, “we”, “us”, “our”, or the “Company”, as the context requires, when we refer to our historical operations and financial performance. In November 2014 and in April 2015, Blackstone completed two secondary offerings in which it registered and sold 23.0 million and 23.9 million shares of Holdings common shares, respectively. As of June 30, 2015, Blackstone beneficially owned 26.9% of Holdings’ common shares outstanding. We own and operate hotels, some of which are subject to a land lease, located in the United States under the La Quinta brand. We also franchise and, until the acquisition of the Previously Managed Hotels upon completion of our IPO, managed hotels under the La Quinta brand, with franchised hotels currently operating in the United States (“US”), Canada, Mexico and Honduras. As of June 30, 2015 and 2014, total owned and franchised hotels, and the approximate number of associated rooms were as follows: June 30, 2015 June 30, 2014 # of hotels # of rooms # of hotels # of rooms Owned 351 44,600 352 44,800 Joint Venture 1 200 1 200 Franchised 526 42,400 495 40,000 Totals 878 87,200 848 85,000 During the second quarter of 2015, we sold one of our Owned Hotels for $3.0 million, net of transaction costs. We recorded a loss on sale of $4.0 million related to this transaction. The purchaser subsequently signed a franchise agreement for this hotel to remain in our system. Basis of Presentation and Use of Estimates The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information, the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all information or footnotes required by GAAP for complete annual financial statements. Although we believe the disclosures made are adequate to prevent the information presented from being misleading, these financial statements should be read in conjunction with Holdings’ consolidated financial statements and notes thereto for the years ended December 31, 2014, 2013 and 2012, which are included in our Annual Report on Form 10-K, filed by Holdings with the Securities and Exchange Commission on February 25, 2015. All intercompany transactions have been eliminated. In our opinion, the accompanying condensed consolidated financial statements reflect all adjustments, including normal recurring items, considered necessary for a fair presentation of the interim periods. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported and, accordingly, ultimate results could differ from those estimates. Interim results are not necessarily indicative of full year performance because of the impact of seasonal and short-term variations. Effective April 14, 2014, we acquired 100% of the ownership interests of LQ Management L.L.C. (“LQM”) for $0.8 million in cash. Prior to April 14, 2014, LQM was a VIE, in which the La Quinta Predecessor Entities had a significant variable financial interest, and were the primary beneficiary. LQM received no member or other capital contribution, or equity investment upon formation or thereafter. LQM’s sole purpose is to manage all of our day-to-day operations, as well as to provide, prior to the IPO, day to day management of the Previously Managed Hotels. In return for providing these management services, we and, prior to the IPO, the Previously Managed Hotels pay LQM a management fee and reimburse LQM for costs incurred on our behalf, and, prior to the IPO, on behalf of the Previously Managed Hotels, in accordance with management and service agreements in place prior to the IPO. The La Quinta Predecessor Entities were the primary beneficiary of LQM as the management and service agreements in place provided for the La Quinta Predecessor Entities to reimburse LQM for its expenses in a manner that allowed LQM to realize a reasonable profit. We have not provided financial or other support to LQM during the periods presented that we were not contractually required to provide, and LQM’s agreements with its vendors are structured as non-recourse to our general credit. On April 14, 2014, LQM became a wholly owned subsidiary of Holdings and, as a result, is no longer a VIE.

Significant Accounting Policies

Significant Accounting Policies and Recently Issued Accounting Standards	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Significant Accounting Policies and Recently Issued Accounting Standards	NOTE 2. SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ISSUED ACCOUNTING STANDARDS Revenue Recognition Room revenues are derived from room rentals at our owned hotels. We recognize room revenue on a daily basis based on an agreed-upon daily rate after the guest has stayed at one of our hotels. Customer incentive discounts, cash rebates, and refunds are recognized as a reduction of room revenues. Occupancy, hotel, and sales taxes collected from customers and remitted to the taxing authorities are excluded from revenues in the accompanying condensed consolidated statements of operations. Included in franchise and other fee-based revenues are franchise fee revenues, which primarily consist of revenues from franchisees for application and initial fees, royalty, reservations, and training, as well as fees related to our guest loyalty program (“Returns”). We recognize franchise fee revenue on a gross basis because we (1) are the primary obligor in these arrangements, (2) have latitude in establishing rates, (3) perform the services delivered, (4) have some discretion over supplier selection, and (5) determine the specification of services delivered. The different types of franchise fee revenues are described as follows: • Upon execution of a franchise agreement, a franchisee is required to pay us an initial fee. We recognize the initial fee as revenue when substantial performance of our obligations to the franchisee with respect to the initial fee has been achieved. In most cases, the vast majority of the initial fee is recognized as revenue when each franchise agreement is signed as, after that date, our remaining obligations to the franchisee are limited to (1) pre-opening inspections, for which we defer $2,500, and (2) if mandated by us or agreed to with the franchisee, preopening training and marketing support related to entry into the La Quinta brand, for which we defer $5,000. These amounts represent an estimate of the value provided to the franchisee related to the services provided, and are based on our experience with time, materials, and third-party costs necessary to provide these services. We recognize the remaining deferred initial fee as revenue when the franchised property opens as the remaining service obligations have been fulfilled. • For franchise agreements entered into prior to April 1, 2013, we collect a monthly royalty fee from franchisees generally equal to 4.0% of their room revenues until the franchisee has operated as a La Quinta hotel for twenty-four consecutive months. Beginning in the twenty-fifth month of operation, the franchisee monthly royalty fee increases to 4.5%. Pursuant to franchise agreements entered into with new US franchisees on or after April 1, 2013, we collect a royalty fee from franchisees equal to 4.5% of their room revenues until the franchisee has operated as a La Quinta hotel for twenty-four consecutive months. Beginning in the twenty-fifth month of operation, the franchisee monthly royalty fee increases to 5.0%. In each of these cases, the franchisee has the opportunity to earn the additional 0.5% back via rebate by achieving certain defined customer satisfaction results. Pursuant to franchise agreements entered into with franchisees outside of the US on or after April 1, 2013, we generally collect a royalty fee from franchisees equal to 4.5% of their room revenues throughout the term and do not offer a rebate. • We receive reservation and technology fees, as well as fees related to Returns, in connection with franchising our La Quinta brand. Such fees are recognized based on a percentage of the franchisee’s eligible hotel room revenues or room count. We also perform certain other services for franchisees such as training and revenue management. Revenue for these services is recognized at the time the services are performed. Included in franchise and other fee-based revenues are management fees of approximately $0.1 million for the three months ended June 30, 2014 and approximately $0.7 million for the six months ended June 30, 2014, which represent fees earned from the Previously Managed Hotels, prior to their acquisition on April 14, 2014. Management fees from hotels include a base fee, which is generally a percentage of hotel revenues. ( See Note 9 Other hotel revenues include revenues generated by the incidental support of hotel operations for owned hotels and other rental income. We record rental income from operating leases associated with leasing space for restaurants, billboards, and cell towers. Rental income is recognized on a straight-line basis over the life of the respective lease agreement. Brand marketing fund revenues from franchise and managed properties represent fees collected from franchised and managed hotels related to maintaining our Brand Marketing Fund (“BMF”). We maintain the BMF on behalf of all La Quinta branded hotel properties, including our owned hotels, from which national marketing and advertising campaign expenses are paid. Each La Quinta branded hotel is charged a percentage of its room revenue from which the expenses of the fund are covered. The corresponding expenditures of the BMF fees collected from franchised and managed hotels are presented as brand marketing fund expenses from franchised and managed hotels in our condensed consolidated statements of operations, resulting in no net impact to operating income or net loss. Lodging operations are particularly sensitive to adverse economic and competitive conditions and trends, which could adversely affect the Company’s business, financial condition, and results of operations. Derivative Instruments We record all derivatives at fair value. On the date the derivative contract is entered, we designate the derivative as one of the following: a hedge of a forecasted transaction or the variability of cash flows to be paid (“cash flow hedge”), a hedge of the fair value of a recognized asset or liability (“fair value hedge”), or an undesignated hedge instrument. Changes in the fair value of a derivative that is qualified, designated and highly effective as a cash flow hedge or net investment hedge are recorded in the condensed consolidated statements of comprehensive income (loss) until they are reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Changes in the fair value of a derivative that is qualified, designated and highly effective as a fair value hedge, along with the gain or loss on the hedged asset or liability that is attributable to the hedged risk, are recorded in current period earnings. Changes in the fair value of undesignated derivative instruments and the ineffective portion of designated derivative instruments are reported in current period earnings. Cash flows from designated derivative financial instruments are classified within the same category as the item being hedged in the condensed consolidated statements of cash flows. If we determine that we qualify for and will designate a derivative as a hedging instrument at the designation date, we formally document all relationships between hedging activities, including the risk management objective and strategy for undertaking various hedge transactions. This process includes matching all derivatives that are designated as cash flow hedges to specific forecasted transactions, linking all derivatives designated as fair value hedges to specific assets and liabilities in our condensed consolidated balance sheets, and determining the foreign currency exposure of net investment of the foreign operation for a net investment hedge. On a quarterly basis, we assess the effectiveness of our designated hedges in offsetting the variability in the cash flows or fair values of the hedged assets or obligations via use of a statistical regression approach. Additionally, we measure ineffectiveness using the hypothetical derivative method. This method compares the cumulative change in fair value of each hedging instrument to the cumulative change in fair value of a hypothetical hedging instrument, which has terms that identically match the critical terms of the respective hedged transactions. Thus, the hypothetical hedging instrument is presumed to perfectly offset the hedged cash flows. Ineffectiveness results when the cumulative change in the fair value of the hedging instrument exceeds the cumulative change in the fair value of the hypothetical hedging instrument. We discontinue hedge accounting prospectively when the derivative is not highly effective as a hedge, the underlying hedged transaction is no longer probable, or the hedging instrument expires, is sold, terminated or exercised. Equity Based Compensation The measurement objective for these equity awards is the estimated fair value at the grant date of the equity instruments that we are obligated to issue when employees have rendered the requisite service and satisfied any other conditions necessary to earn the right to benefit from the instruments. The compensation cost for an award classified as an equity instrument is recognized ratably over the requisite service period, including an estimate of forfeitures. The requisite service period is the period during which an employee is required to provide service for an award to vest. Compensation cost for awards with performance conditions is recognized over the requisite service period if it is probable that the performance condition will be satisfied. If such performance conditions are not considered probable until they occur, no compensation expense for these awards is recognized. Income Taxes Prior to the IPO, certain of our subsidiaries had elected to be treated as REITs for federal income tax purposes under the United States Internal Revenue Code. To qualify as REITs, these subsidiaries had to meet all of the required organizational and operational requirements, including a requirement that the REIT distribute at least 90% of its regular taxable income to its shareholders as dividends eligible for the dividends paid deduction. Prior to the IPO, the REIT subsidiaries adhered to these requirements. If the REIT subsidiaries failed to qualify as REITs in any taxable year, they would be subject to federal income taxes at regular corporate rates (including any applicable alternative minimum tax) and might not qualify as REITs for the four subsequent taxable years. For this reason, one of our REITs formed taxable subsidiaries to hold certain assets that could have otherwise adversely affected its REIT status. These taxable subsidiaries are or were subject to federal and state income taxes. On April 14, 2014, the La Quinta Predecessor Entities were contributed to Holdings, a “C” corporation, the shares of capital stock held by third-party shareholders of our REIT entities were redeemed for cash totaling approximately $3.9 million, and our REITs were converted into limited liability companies. As a result of these transactions, we have become subject to additional entity-level taxes and, as of April 14, 2014, we recorded a one-time net deferred tax expense of $321.1 million, which reflects the establishment of the associated net deferred tax liability. Newly Issued Accounting Standards In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09. The new guidance on revenue from contracts with customers will supersede most current revenue recognition guidance, including industry-specific guidance. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The guidance provides a five-step analysis of transactions to determine when and how revenue is recognized. Other major provisions include capitalization of certain contract costs, consideration of time value of money in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. The guidance also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. The guidance is effective for the interim and annual periods beginning on or after December 15, 2017; early adoption is permitted for annual reporting periods beginning after December 15, 2016. The guidance permits the use of either a retrospective or cumulative effect transition method. We have not yet selected a transition method and are currently evaluating the impact of the amended guidance on our consolidated financial position, results of operations and related disclosures. In January 2015, the FASB issued ASU No. 2015-01, “Income Statement – Extraordinary and Unusual Items (Subtopic 225-20).” The amendments in this ASU eliminate the requirement of Extraordinary Items to be separately classified on the income statement. This will alleviate uncertainty for preparers, auditors, and regulators because auditors and regulators no longer will need to evaluate whether a preparer treated an unusual and/or infrequent item appropriately. The update is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively or retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. We do not anticipate that the adoption of this standard will have a material impact on our financial position, results of operations and related disclosures. In February 2015, the FASB issued ASU No. 2015-02, “Consolidation (Topic 810)—Amendments to the Consolidation Analysis.” The update primarily amends the criteria used to evaluate whether certain variable interest entities should be consolidated and modifies the criteria used to determine whether partnerships and similar entities are variable interest entities. The update is effective for interim and annual periods beginning after December 15, 2015 with early adoption permitted, including in the interim periods. We do not anticipate that the adoption of this standard will have a material impact on our financial position, results of operations and related disclosures. In April 2015, the FASB issued ASU No. 2015-03, “Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs.” This ASU requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the debt liability rather than as an asset, which is consistent with the presentation of debt discounts or premiums. The provisions of ASU No. 2015-03 are effective for reporting periods beginning after December 31, 2015 and is required to be adopted retroactively; early adoption is permitted. We do not anticipate that the adoption of this standard will have a significant impact on our financial position, results of operations and related disclosures. Newly Adopted Accounting Standards In April 2014, the FASB issued ASU No. 2014-08. Under the new guidance, only a disposal of a component that represents a major strategic shift of an organization qualifies for discontinued operations reporting. The guidance also requires expanded disclosures about discontinued operations and new disclosures in regards to individually significant disposals that do not qualify for discontinued operations reporting. This guidance is effective for the first interim or annual period beginning on or after December 15, 2014. We adopted this standard as of January 1, 2015. This adoption impacts the comparability of our financial statements as disposals of individual owned hotels will generally no longer qualify as discontinued operations. From time to time, new accounting standards are issued by FASB or other standards setting bodies, which we adopt as of the specified effective date. Unless otherwise discussed, we believe the impact of recently issued standards that are not yet effective will not have a material impact on our consolidated financial statements upon adoption.

Assets Held for Sale and Discon

Assets Held for Sale and Discontinued Operations	6 Months Ended
	Jun. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
Assets Held for Sale and Discontinued Operations	NOTE 3. ASSETS HELD FOR SALE AND DISCONTINUED OPERATIONS During the second quarter of 2013, 44 of our hotels were classified as assets held for sale, and the results of their operations have accordingly been presented within discontinued operations for all affected periods presented in the accompanying condensed consolidated statements of operations. During the third and fourth quarters of 2013, 40 of these hotels were sold. On February 6, 2014, the four remaining hotels were sold. In accordance with the terms of our loan agreements existing at the time of such sales, all proceeds associated with the sale of these hotels were used to make principal payments on our long-term debt. The following table summarizes the operating results of the discontinued operations: For the six months 2014 (in thousands) Hotel revenues $ 361 Direct lodging expenses 651 Other lodging and operating expenses 62 Operating income (loss) (352 ) Depreciation and amortization — Impairment loss (151 ) Loss on discontinued operations $ (503 )

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Acquisitions	NOTE 4. ACQUISITIONS In connection with the acquisitions described below, we recorded the assets acquired and liabilities assumed at fair value as of the acquisition date. Furthermore, acquisition-related costs, such as due diligence, legal and accounting fees, were expensed in the period incurred and were not capitalized or applied in determining the fair value of the acquired assets. Acquisition of the Previously Managed Hotels and LQ Management L.L.C. On April 14, 2014, we acquired BRE/Prime Mezz L.L.C. and BRE/Wellesley Properties L.L.C., which owned the Previously Managed Hotels, for a total purchase price of $161.7 million. Total net consideration paid was $150.8 million, which equals the total purchase price of $161.7 million less $10.9 million owed by the parent of BRE/Prime Mezz L.L.C. and BRE/Wellesley Properties L.L.C. to the La Quinta Predecessor Entities. The total net consideration was paid in the form of $76.9 million of cash and $73.9 million of equity in the form of common stock of Holdings. Of the total $161.7 million purchase price, significant assets acquired consist of $166.5 million of property and equipment and $1.4 million in intangible assets for favorable leasehold interests. Other significant long term liabilities acquired include unfavorable leasehold interests of $5.3 million. Additionally on April 14, 2014, we acquired 100% of the ownership interests of LQM for $0.8 million in cash. The following unaudited pro forma results of operations reflect our results as if the acquisition of the Previously Managed Hotels had occurred on January 1, 2014. In our opinion, all significant adjustments necessary to reflect the effects of the acquisitions have been made (in thousands, except per share data): For the three months ended June 30, For the six months 2014 2014 Total revenues $ 261,807 $ 489,518 Net loss attributable to La Quinta Holdings’ stockholders (337,999 ) (342,360 ) Basic and diluted earnings per share (2.66 ) (2.75 )

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Property and Equipment	NOTE 5. PROPERTY AND EQUIPMENT The following is a summary of property and equipment as of June 30, 2015 and December 31, 2014: June 30, 2015 December 31, 2014 (in thousands) Land $ 822,664 $ 836,514 Buildings and improvements 2,764,944 2,799,967 Furniture, fixtures, equipment and other 413,452 403,271 Total property and equipment 4,001,060 4,039,752 Less accumulated depreciation (1,266,911 ) (1,214,450 ) Property and equipment, net 2,734,149 2,825,302 Construction in progress 7,341 946 Total property and equipment, net of accumulated depreciation $ 2,741,490 $ 2,826,248 Depreciation and amortization expense related to property and equipment was $42.1 million and $41.3 million for the three months ended June 30, 2015 and 2014, respectively. Depreciation and amortization expense related to property and equipment was $83.8 million and $80.9 million for the six months ended June 30, 2015 and 2014, respectively. Construction in progress includes capitalized costs for ongoing projects that have not yet been put into service.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Long-Term Debt	NOTE 6. LONG-TERM DEBT Long-term debt as of June 30, 2015 and December 31, 2014 was as follows: June 30, December 31, (in thousands) Current: Term Facility (1) $ 17,560 $ 19,001 Non-current: Term Facility (1) 1,724,969 1,866,698 Total debt $ 1,742,529 $ 1,885,699 (1) As of June 30, 2015 and December 31, 2014, the 30 day United States dollar London Interbank Offering Rate (“LIBOR”) was 0.19% and 0.16%, respectively. As of June 30, 2015, the interest rate, maturity date and principal payments on the Term Facility were as follows: • The terms of the Term Facility require us to make certain scheduled principal payments quarterly beginning September 30, 2014. Final maturity is April 2021. During the six months ended June 30, 2015, we made voluntary principal prepayments of $135.0 million and quarterly scheduled principal payments of $9.0 million, • The interest rate for the Term Facility through June 30, 2015 was LIBOR with a floor of 1.0% plus a spread of 3.0%. Included in the Term Facility as of June 30, 2015 and December 31, 2014 is an unamortized original issue discount of $8.9 million and $9.6 million, respectively. As of June 30, 2015 and December 31, 2014, we had $17.1 million and $18.6 million, respectively, in accrued interest included within accrued expenses and other liabilities in the accompanying condensed consolidated balance sheets. Term Facility On April 14, 2014, Holdings’ wholly owned subsidiary, La Quinta Intermediate Holdings L.L.C. (the “Borrower”), entered into a new credit agreement (the “Agreement”) with JPMorgan Chase Bank, N.A. (“JPM”), as administrative agent, collateral agent, swingline lender and L/C issuer, J.P. Morgan Securities LLC, Morgan Stanley Senior Funding, Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs Bank USA, and Wells Fargo Securities, LLC, as joint lead arrangers and joint book runners, and the other agents and lenders from time to time party thereto. The credit agreement provides for senior secured credit facilities (collectively the “Senior Facilities”) consisting of: • $2.1 billion senior secured term loan facility (the “Term Facility”), which will mature in 2021; and • $250 million senior secured revolving credit facility (the “Revolving Facility”), $50 million of which is available in the form of letters of credit, which will mature in 2019. We incurred $28.7 million of debt issuance costs for the Senior Facilities, which is being amortized over the terms of the underlying debt agreement. As of June 30, 2015, the net balance of these debt issuance costs included in our condensed consolidated balance sheet was $24.3 million. Interest Rate and Fees Borrowings under the Revolving Facility bear interest, at the Borrower’s option, at a rate equal to a margin over either (a) a base rate determined by reference to the highest of (1) the JPM prime lending rate, (2) the Federal Funds Effective Rate plus 1/2 of 1.00% and (3) the adjusted LIBOR rate for a one-month interest period plus 1.00% or (b) a LIBOR rate determined by reference to the Reuters LIBOR rate for the interest period relevant to such borrowing. The margin for the Revolving Facility is 1.50%, in the case of base rate loans, and 2.50%, in the case of LIBOR rate loans, subject to three step-downs of 0.25% each upon the achievement of a consolidated first lien net leverage ratio of less than or equal to 5.00 to 1.00, 4.50 to 1.00 and 4.00 to 1.00, respectively. As of March 2, 2015, we achieved a consolidated first lien net leverage ratio of less than 5.00 to 1.00, and after March 2, 2015 we realized the first step-down in margin of 0.25%. In addition, the Borrower is required to pay a commitment fee to the lenders under the Revolving Facility in respect of the unutilized commitments thereunder. The commitment fee rate is 0.50% per annum subject to a step-down to 0.375%, upon achievement of a consolidated first lien net leverage ratio less than or equal to 5.00 to 1.00. As of March 2, 2015, we achieved a consolidated first lien net leverage ratio of less than 5.00 to 1.00, and after March 2, 2015, the commitment fee rate is 0.375%. The Borrower is also required to pay customary letter of credit fees. Amortization The Senior Facilities contain certain representations and warranties, affirmative and negative covenants and events of default. If an event of default occurs, the lenders under the Senior Facilities will be entitled to take various actions, including the acceleration of amounts due under the Senior Facilities and actions permitted to be taken by a secured creditor. As of June 30, 2015, we were in compliance with all applicable covenants under the Senior Facilities. Letters of Credit As of June 30, 2015 and December 31, 2014, we have $10.6 million in letters of credit obtained through our Revolving Facility. We were required to pay a fee of 2.63% per annum related to these letters of credit. As of March 2, 2015, we achieved a consolidated first lien net leverage ratio of less than 5.00 to 1.00, and after March 2, 2015 we realized the first step-down in rate of 0.25%, for a margin of 2.38%. Interest Expense, Net Net interest expense, including the impact of our interest rate swap (see Note 7), consisted of the following for the three and six months ended June 30, 2015 and 2014: For the three months For the six months Description 2015 2014 2015 2014 (in thousands) Term Facility $ 20,951 $ 20,360 $ 42,442 $ 20,360 Mortgage Loan (1) — 7,037 — 23,754 Holdco III Mortgage Loan (2) — 404 — 3,206 Mezzanine Loans (3) Current — 920 — 3,107 Deferred — 5,524 — 18,600 Amortization of long-term debt reduction — (383 ) — (1,532 ) Amortization of original issue discount 349 — 695 — Amortization of deferred financing costs 949 1,953 1,891 5,297 Other interest 2 4 5 8 Interest income (60 ) (14 ) (71 ) (35 ) Total interest expense, net $ 22,191 $ 35,805 $ 44,962 $ 72,765 (1) Refers to our mortgage loan agreement entered into on July 6, 2007 (the “Mortgage Loan”). In December 2007, a portion of the Mortgage Loan was refinanced with a senior mezzanine loan. (2) Refers to Holdco III’s mortgage loan entered into in December 2011 (the “Holdco III Mortgage Loan”). (3) In July 2007, we entered into five unsecured, mezzanine loans. The senior mezzanine loan referred to in footnote (1) and the five unsecured, mezzanine loans are collectively referred to as the “Mezzanine Loans.”

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	NOTE 7. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES During the three and six months ended June 30, 2015 and 2014, derivatives were used to hedge the interest rate risk associated with our variable-rate debt. Term Facility Interest Rate Swap On April 14, 2014, the Borrower entered into an interest rate swap agreement with an aggregate notional amount of $850.0 million that expires on April 14, 2019. This agreement swaps the LIBOR rate in effect under the new credit agreement for this portion of the loan to a fixed-rate of 2.0311%, which includes a 1% LIBOR floor. Management has elected to designate this interest rate swap as a cash flow hedge for accounting purposes. Interest Rate Caps Pursuant to the terms of the Holdco I Loans and the Holdco III Mortgage Loan, we were required to maintain interest rate caps. The effect of these interest rate cap agreements was to limit our maximum interest rate exposure with respect to increases in LIBOR. We purchased and maintained these interest rate caps during the period ended June 30, 2014, and the related gain or loss on these investments is reflected within other income (loss) in the accompanying condensed consolidated statements of operations. We did not elect to designate any of these interest rate caps as effective hedging instruments. Fair Value of Derivative Instruments The effects of our derivative instruments on our condensed consolidated balance sheets were as follows: June 30, 2015 December 31, 2014 Balance Sheet Fair Value Balance Sheet Fair Value (in thousands) Cash Flow Hedges: Interest rate swap Other long- $ (8,976 ) Other long- $ (4,811 ) Earnings Effect of Derivative Instruments The effects of our derivative instruments on our condensed consolidated statements of operations and condensed consolidated statements of comprehensive income, net of the effect for income taxes, were as follows: Classification of Gain For the three months For the six months 2015 2014 2015 2014 (in thousands) Cash Flow Hedges: Interest rate swap (1) Other comprehensive $ 1,712 $ (2,536 ) $ (2,707 ) $ (2,536 ) Non-designated Hedges: Interest rate caps Other income (loss) — — — — (1) There were no amounts recognized in earnings related to hedge ineffectiveness or amounts excluded from hedge effectiveness testing during the three and six months ended June 30, 2015. (2) The interest rate caps expired in July 2014.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	NOTE 8. FAIR VALUE MEASUREMENTS The carrying amount and estimated fair values of our financial assets and liabilities, which include related current portions, were as follows: June 30, 2015 December 31, 2014 Carrying Fair Value Carrying Fair Value (in thousands) Cash and cash equivalents (1) $ 56,497 $ 56,497 $ 109,857 $ 109,857 Interest rate swaps (2) (8,976 ) (8,976 ) (4,811 ) (4,811 ) Long-term debt (3) 1,742,529 1,740,822 1,885,699 1,846,181 (1) Classified as Level 1 under the fair value hierarchy. (2) Classified as Level 2 under the fair value hierarchy. (3) Classified as Level 3 under the fair value hierarchy. We believe the carrying amounts of our cash and cash equivalents and restricted cash approximated fair value as of June 30, 2015 and December 31, 2014, as applicable. Our estimates of the fair values were determined using available market information and valuation methods appropriate in the circumstances. Considerable judgment is necessary to interpret market data and develop estimated fair values. Proper placement of fair value measurements within the valuation hierarchy is considered each reporting period. Third-party information received for calculating Level 3 fair value measurements is reviewed to ensure it is in accordance with GAAP. The use of different market assumptions or estimation methods may have a material effect on the estimated fair value amounts. The fair values of interest rate swaps are determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each instrument. This analysis reflects the contractual terms of the agreements, including the period to maturity, and uses observable market-based inputs, including forward interest rate curves. We incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. We estimate the fair value of our long-term debt using discounted cash flow analysis based on current market inputs for similar types of arrangements. The primary sensitivity in these calculations is based on the selection of appropriate discount rates. We estimated the discount rate to be approximately 4.0% and 4.4%, as of June 30, 2015 and December 31, 2014, respectively. Fluctuations in these assumptions will result in different estimates of fair value. We test long-lived assets for impairment annually or more frequently if events or changes in circumstances indicate that the asset might be impaired. In the second quarter of 2015, we identified a portfolio of 24 hotels where it became more likely than not the hotels would be sold significantly before the end of the previously estimated useful life. We recorded an impairment charge of $42.5 million to adjust the carrying value of these assets to their estimated fair value. However, these assets did not meet the criteria for classification as assets held for sale as of June 30, 2015. The fair value estimate is considered to be Level 3 within the fair value measurement hierarchy. The inputs used in determining the fair value of these 24 hotels are based on estimated selling prices ranging from $70.0 million to $75.0 million. The following fair value hierarchy table presents information about assets measured at fair value on a nonrecurring basis during the period ended June 30, 2015: June 30, 2015 Level 1 Level 2 Level 3 Total Fair Impairment (in thousands) 24 Owned Hotels $ — $ — $ 71,235 $ 71,235 $ 42,498 In June 2014 we determined that the long-lived assets associated with one of our owned hotels were partially impaired primarily due to unfavorable expected terms of the upcoming underlying ground lease renewal and the likelihood of the Company abandoning the hotel upon expiration of the ground lease. As a result, we recorded an impairment loss of approximately $5.2 million for the six months ended June 30, 2014. Subsequent to June 30, 2014, the Company reached an agreement with the landlord and renewed the lease. For this purpose, fair value of the property was estimated primarily using expected present value of future cash flows. The fair value estimate is considered to be Level 3 within the fair value measurement hierarchy. The following fair value hierarchy table presents information about assets measured at fair value on a nonrecurring basis during as of December 31, 2014: December 31, 2014 Level 1 Level 2 Level 3 Total Fair Impairment (in thousands) 1 La Quinta Inn $ — $ — $ 249 $ 249 $ 5,157

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 9. RELATED PARTY TRANSACTIONS Arrangements Relating to Previously Managed Hotels We maintain various agreements and enter into certain transactions with affiliates of the Funds. Prior to April 14, 2014, these affiliates owned the Previously Managed Hotels ( see Note 4 Management and Service Agreements Hotel Management Agreements Management fees earned by LQM from the Previously Managed Hotels, for the periods from April 1, 2014 to April 14, 2014 and from January 1, 2014 to April 14, 2014 were $0.1 million and $0.2 million, respectively. These management fees are included within franchise and other fee-based revenues in the accompanying condensed combined statements of operations. In addition, in accordance with the LQM Management Agreements, LQM also provided certain group services for hotels it managed, including group and administrative services, information systems support, training, and other field services and was reimbursed for the cost of providing these services. For the periods from April 1, 2014 to April 14, 2014 and from January 1, 2014 to April 14, 2014, LQM earned group services reimbursements from the Previously Managed Hotels of approximately $0.1 million and $0.2 million, respectively. These fees are included within franchise and other fee-based revenues in the accompanying condensed consolidated statements of operations. Other Fees and Funding Brand Marketing Fund (BMF) . Customer Loyalty Program Trademark Licenses Other Arrangements As of June 30, 2015 and December 31, 2014, approximately $31.2 million and $43.9 million, respectively, of the aggregate principal amount of our Term Facility was owned by affiliates of Blackstone. We make periodic interest and principal payments on such debt in accordance with its terms. We engaged Blackstone Advisory Partners L.P. to provide certain financial consulting services in connection with the public offering of our common stock by certain stockholders in April 2015 for a fee of approximately $0.4 million. We also purchase products and services from entities affiliated with or owned by Blackstone. The fees paid for these products and services were approximately $0.7 million and $0.8 million during the three months ended June 30, 2015 and 2014, respectively. The fees paid for these products and services were approximately $1.5 million during both of the six month periods ended June 30, 2015 and 2014.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 10. COMMITMENTS AND CONTINGENCIES Environmental Litigation Casualty Losses Tax Contingencies On November 25, 2014, we were notified that the IRS intended to examine the tax returns of the same entities subject to the 2010 and 2011 audit in each case for the tax years ended December 31, 2012 and 2013. That examination is in process; as of June 30, 2015, we have not been advised of any proposed adjustments. Purchase Commitments Franchise Commitments

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 11. INCOME TAXES Prior to our IPO on April 14, 2014, we operated primarily as limited liability companies treated as partnerships for U.S. federal income tax purposes, REIT entities, and taxable entities. As a result, we were not subject to U.S. federal and most state income taxes for our limited liability companies and our REIT entities. Our partnership and REIT status terminated in connection with the IPO, as the La Quinta Predecessor Entities were contributed to Holdings, a “C” corporation, the shares of capital stock held by third-party shareholders of our REIT entities were redeemed for cash totaling approximately $3.9 million, and our REITs were converted into limited liability companies. As a result of these transactions, we have become subject to additional entity-level taxes and, during the second quarter of the year ended December 31, 2014, we recorded a one-time net deferred tax expense of $321.1 million, which established the associated net deferred tax liability on our balance sheet, and reflects the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases at the estimated blended statutory U.S. federal and state income tax rate of 38.1%. More specifically, this initial deferred tax expense is driven by (1) the recognition of deferred tax liabilities of approximately $462.3 million, primarily related to differences between the book and tax basis for our fixed and intangible assets and related depreciation, (2) the recognition of deferred tax assets of approximately $14 million primarily related to tax-only intangibles, and (3) as a result of the change in the Company’s tax status, a tax benefit of $127.2 million related to the reduction in valuation allowance, primarily associated with La Quinta Predecessor Entities’ net operating losses and tax credits. The Company recorded a provision for federal, state and foreign income tax expense (benefit) of approximately $(2.4) million benefit and $2.0 million expense for the three and six months ended June 30, 2015, respectively. The Company recorded a provision for federal, state and foreign income tax expense of approximately $5.0 million and $5.7 million during the three and six month periods ended June 30, 2014, respectively. The provisions for the three and six month periods ended June 30, 2015 and 2014 reflect certain equity compensation charges that are not deductible for income tax purposes.

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plans	NOTE 12. EMPLOYEE BENEFIT PLANS We maintain a deferred savings plan covering substantially all of our employees that qualified under Section 401(k) of the Internal Revenue Code. Our deferred savings plan has an employer matching contribution of 100% of the first 3% and 50% of the next 2% of an employee’s eligible earnings, which vests immediately. We paid employer contributions of approximately $0.6 million and $0.5 million, during the three month periods ended June 30, 2015 and 2014, respectively. We paid employer contributions of approximately $1.2 million and $1.0 million, during the six month periods ended June 30, 2015 and 2014, respectively.

Equity-Based Compensation

Equity-Based Compensation	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Equity-Based Compensation	NOTE 13. EQUITY-BASED COMPENSATION Promote Plan Prior to the IPO Effective Date, certain members of our management and others (the “Promote Participants”) were eligible to receive long-term incentives evidenced by units (the “Units”) in LQ Services L.L.C. (“LQ Services”), which indirectly held interests in the Company, which Units were intended to be treated as “profits interests” for U.S. tax purposes (the “Promote Plan”). Units were typically granted by our Chief Executive Officer, in consultation with Blackstone, to key employees upon hire. Unit levels could also be adjusted to recognize changing job responsibilities. All of the Units were subject to exit-based vesting on the date when there was a sale, transfer or disposition of all or substantially all of the assets of the La Quinta Predecessor Entities to an unaffiliated entity which resulted in distributions being payable to the holders of the Units (a “Liquidity Event”), subject to a Promote Participant’s continued employment on such date. The value in respect of Units would have been determined based upon the amounts received by Blackstone pursuant to a Liquidity Event, net of certain debt repayments and return of equity to Blackstone. As payments in respect of the Units were contingent on occurrence of a Liquidity Event, which was not assessed to be probable prior to the date of our IPO, no expense was accrued or recognized for the Units prior to April 14, 2014. On the IPO Effective Date, Units that were outstanding under the Promote Plan at the time of the offering were exchanged for 3.1 million vested and unvested shares of common stock of Holdings of equivalent economic value, using a grant date fair value equal to the initial public offering price of Holdings shares of $17.00 per share and issued as follows: (1) 40% of the shares received were vested shares of common stock; (2) 40% of the shares received were unvested shares of restricted stock that vested on the first anniversary of the IPO Effective Date, contingent upon continued employment through that date; and (3) 20% of the shares received were unvested shares of restricted stock that vest on the earlier of the date that Blackstone and its affiliates cease to own 50% or more of Holdings or the seventh anniversary of the IPO Effective Date, contingent upon continued employment at that date. Blackstone and its affiliates ceased to own 50% of Holdings’ common stock, effective November 25, 2014. The Promote Plan became fully vested on April 14, 2015. Total compensation expense under the Promote Plan was $0.5 million and $5.6 million during the three and six months ended June 30, 2015, respectively. During the three and six months ended June 30, 2014, total compensation expense under the Promote Plan was $26.2 million. As of June 30, 2015, 9,658 shares have been forfeited from the Promote Plan. 2014 Omnibus Incentive Plan In connection with, and prior to completion of, the IPO, our Board of Directors adopted, and our stockholders approved, the La Quinta Holdings Inc. 2014 Omnibus Incentive Plan (the “2014 Omnibus Incentive Plan”). The 2014 Omnibus Incentive Plan provides for the granting of stock options, restricted stock and other equity based or performance-based awards denominated in cash or in stock to directors, officers, employees, consultants and advisors and our affiliates. 2014 Grant I 2014 Grant II Director Unit Grants 2014 Performance Unit Grant The grant date fair value of the 2014 Performance Unit Grant was $19.80 per share, which was determined using a Monte Carlo simulation valuation model with the following assumptions: Expected volatility (1) 24.05 % Dividend yield (2) — % Risk-free rate (3) 0.70 % Expected term (in years) (4) 2.6 (1) Due to limited trading history for our common stock, we did not have sufficient information available on which to base a reasonable and supportable estimate of the expected volatility of our share price. As a result, we used an average historical volatility of our peer group over a time period consistent with our expected term assumption. Our peer group was determined based upon companies in our industry with similar business models and is included with those companies used to benchmark our executive compensation. (2) At the time of the 2014 Performance Unit Grant, we had no foreseeable plans to pay dividends during the expected term of these performance shares. (3) Based on the yields of U.S. Department of Treasury instruments with similar expected lives. (4) Midpoint of the 30-calendar day period preceding the end of the performance period. 2015 Grant I 2015 Performance Unit Grant The grant date fair value of the 2015 Performance Unit Grant was $25.35 per share, which was determined using a Monte Carlo simulation valuation model with the following assumptions: Expected volatility (1) 31.66 % Dividend yield (2) — % Risk-free rate (3) 1.00 % Expected term (in years) (4) 2.87 (1) Expected volatility is calculated as the average of the long-term historical volatility based on the peer companies and our implied volatility. (2) At the time of the 2015 Performance Unit Grant, we had no foreseeable plans to pay dividends during the expected term of these performance shares. (3) Based on the yields of U.S. Department of Treasury instruments with similar expected lives. (4) As of the grant date. During the three and six months ended June 30, 2015, total compensation expense for awards under the 2014 Omnibus Incentive Plan was $3.5 million and $7.4 million, respectively, excluding related taxes. During the three and six months ended June 30, 2014, total compensation expense for awards under the 2014 Omnibus Incentive Plan was $4.7 million, excluding related taxes. Unrecognized compensation expense as of June 30, 2015 was $27.4 million. As of June 30, 2015, 1,836 shares have been forfeited from awards made under the 2014 Omnibus Incentive Plan. As of June 30, 2015, there were approximately 11.7 million shares of common stock available for future issuance under the 2014 Omnibus Incentive Plan, including the units granted under our restricted stock unit awards.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 14. EARNINGS PER SHARE Basic earnings (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of shares of common stock outstanding. Diluted earnings per share is computed by dividing net income available to common stockholders by the weighted average number of shares of the Company’s common stock outstanding plus other potentially dilutive securities. Dilutive securities include equity based awards issued under long-term incentive plans. As discussed in Note 1, on April 14, 2014, the Company completed its IPO. For purposes of computing earnings per share, it is assumed that our IPO and ownership reorganization had occurred for all periods presented and therefore the outstanding shares have been adjusted to reflect the conversion of shares that took place in connection with the IPO. Accordingly, the denominators in the computations of basic and diluted net earnings (loss) per share reflect our IPO and ownership reorganization for all periods presented. The calculations of basic and diluted earnings per share are as follows: For the three months For the six months 2015 2014 2015 2014 (in thousands, except per share data) Numerator: Income (loss) from continuing operations, attributable to La Quinta Holdings’ stockholders $ (4,663 ) $ (338,578 ) $ 1,479 $ (345,418 ) Loss from discontinued operations, attributable to La Quinta Holdings’ stockholders — — — (503 ) Net loss attributable to La Quinta Holdings’ stockholders $ (4,663 ) $ (338,578 ) $ 1,479 $ (345,921 ) Denominator: Weighted average number of shares outstanding, basic 129,544 126,832 128,971 124,427 Weighted average number of shares outstanding, diluted 129,544 126,832 130,310 124,427 Income (loss) from continuing operations, attributable to La Quinta Holdings’ stockholders per common share, basic and diluted $ (0.04 ) $ (2.67 ) $ 0.01 $ (2.78 ) Loss from discontinued operations attributable to La Quinta Holdings’ stockholders per common share, basic and diluted — — — — Basic and diluted earnings per share $ (0.04 ) $ (2.67 ) $ 0.01 $ (2.78 ) Approximately 1.1 million shares for the three month period ended June 30, 2015, were excluded from the computation of diluted shares, as their impact would have been anti-dilutive. For the six month period ended June 30, 2015, no shares were anti-dilutive. Approximately 1.2 million shares and 0.5 million shares for the three months and six months ended June 30, 2014, respectively, were excluded from the computation of diluted shares, as their impact would have been anti-dilutive.

Segments

Segments	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Segments	NOTE 15. SEGMENTS Our operating segments are components of the business which are managed discretely and for which discrete financial information is reviewed regularly by our Chief Executive Officer, who is our chief operating decision maker, to assess performance and make decisions regarding the allocation of resources. Our operating and reportable segments are defined as follows: • Owned hotels • Franchise and management Corporate and other includes revenues generated and operating expenses incurred in connection with the overall support and brand management of our owned, managed, and franchised hotels and operations. The performance of our operating segments is evaluated primarily based upon Adjusted EBITDA, which should not be considered an alternative to net income (loss) or other measures of financial performance or liquidity derived in accordance with GAAP. We define Adjusted EBITDA as our net income (exclusive of non-controlling interests) before interest expense, income tax expense (benefit), and depreciation and amortization, further adjusted to exclude certain items, including, but not limited to: gains, losses, and expenses in connection with: (i) asset dispositions; (ii) debt modifications/retirements; (iii) non-cash impairment charges; (iv) discontinued operations; (v) equity based compensation and (vi) other items. The table below shows summarized consolidated financial information by segment for the three and six months ended June 30, 2015 and 2014: For the three months For the six months 2015 2014 2015 2014 (in thousands) Revenues Owned hotels $ 242,443 $ 231,596 $ 465,893 $ 426,298 Franchise and management (1) 30,144 26,658 55,897 39,923 Segment revenues 272,587 258,254 521,790 466,221 Other fee-based revenues from franchise and managed properties 6,234 5,668 11,292 10,353 Corporate and other (2) 33,696 31,201 63,105 54,028 Intersegment elimination (3) (38,629 ) (34,834 ) (74,193 ) (53,004 ) Total revenues $ 273,888 $ 260,289 $ 521,994 $ 477,598 Adjusted EBITDA Owned hotels $ 90,636 $ 85,815 $ 166,824 $ 161,275 Franchise and management 30,144 26,658 55,897 39,923 Segment Adjusted EBITDA 120,780 112,473 222,721 201,198 Corporate and other (8,944 ) (6,962 ) (20,881 ) (20,236 ) Adjusted EBITDA $ 111,836 $ 105,511 $ 201,840 $ 180,962 (1) This segment includes intercompany fees which are charged to our owned hotels to reflect that certain functions, such as licensing and management, are included in the franchise and management segment. Prior to the IPO, we charged aggregate fees of 2.0% (0.33% license fees for trademark rights and 1.67% management fee for management services) to our owned hotels. In connection with the IPO, we entered into a new franchise agreement with our owned hotels, which covers certain services as well as trademark rights, and a new management agreement and terminated the existing agreements with our owned hotels. The new agreements, which commenced April 14, 2014, provide for a franchise fee of 4.5% of gross room revenues and a management fee of 2.5% of gross operating revenue for our owned hotels. Our consolidated financial information by segment for periods prior to April 14, 2014 presented herein reflects the historical aggregate fees of 2.0%. (2) Includes revenues related to our brand management programs and other cost reimbursements. The portions of these fees that are charged to our owned hotels totaled $20.0 million and $18.4 million for the three month periods ended June 30, 2015 and 2014, respectively, and $38.3 million and $30.9 million for the six month periods ended June 30, 2015 and 2014, respectively. The franchise agreement we entered into with our owned hotels upon effectiveness of the IPO also includes a reservation fee of 2.0% of gross room revenues, which is reflected in corporate and other. These fees are charged to owned hotels and are eliminated in the accompanying condensed consolidated financial statements. (3) Includes management, license, franchise, BMF, Returns, reservation fees and other cost reimbursements totaling $38.6 million and $34.8 million for the three month periods ended June 30, 2015 and 2014, respectively and $74.2 million and $53.0 million for each of the six month periods ended June 30, 2015 and 2014, respectively. These fees are charged to owned hotels and are eliminated in the accompanying condensed consolidated financial statements. The table below provides a reconciliation of Adjusted EBITDA to EBITDA and EBITDA to net income (loss) attributable to La Quinta Holdings’ stockholders for the three and six months ended June 30, 2015 and 2014: For the three months For the six months 2015 2014 2015 2014 (in thousands) Adjusted EBITDA $ 111,836 $ 105,511 $ 201,840 $ 180,962 Loss from discontinued operations — — — (377 ) Impairment loss (42,498 ) (5,157 ) (42,498 ) (5,308 ) Loss on sale (4,003 ) — (4,003 ) — Loss on retirement of assets — — (161 ) — Gain (loss) related to casualty disasters 134 845 (671 ) 998 Loss on extinguishment of debt, net — (2,030 ) — (2,030 ) Equity based compensation (4,175 ) (31,103 ) (13,144 ) (31,103 ) Other gains (losses), net (1) (1,501 ) (1,347 ) (4,273 ) (388 ) EBITDA 59,793 66,719 137,090 142,754 Interest expense (22,251 ) (35,818 ) (45,033 ) (72,800 ) Income tax provision 2,380 (4,950 ) (1,960 ) (5,698 ) Recognition of net deferred tax liabilities upon C-corporation conversion — (321,054 ) — (321,054 ) Depreciation and amortization (44,489 ) (43,532 ) (88,350 ) (85,359 ) Noncontrolling interests (96 ) 57 (268 ) (3,764 ) Net income (loss) attributable to La Quinta Holdings’ stockholders $ (4,663 ) $ (338,578 ) $ 1,479 $ (345,921 ) (1) Other gains (losses), net primarily consist of net income (loss) attributable to the BMF (which, over time, runs at a break-even level, but may reflect a profit or loss from period to period), secondary offering costs, IRS legal defense costs and litigation reserve adjustments. The following table presents assets for our reportable segments, reconciled to consolidated amounts as of June 30, 2015 and December 31, 2014: June 30, December 31, (in thousands) Total Assets Owned hotels $ 2,812,859 $ 2,928,180 Franchise and management 194,273 191,410 Total segments assets 3,007,132 3,119,590 Corporate and other 105,865 146,117 Total $ 3,112,997 $ 3,265,707 The following table presents capital expenditures for our reportable segments, reconciled to our consolidated amounts for the six month periods ended June 30, 2015 and 2014: For the six months 2015 2014 Capital Expenditures Owned hotels $ 38,116 $ 37,093 Franchise and management — — Total segment capital expenditures 38,116 37,093 Corporate and other 11,140 11,690 Total $ 49,256 $ 48,783

Significant Accounting Polici23

Significant Accounting Policies and Recently Issued Accounting Standards (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Revenue Recognition	Revenue Recognition Room revenues are derived from room rentals at our owned hotels. We recognize room revenue on a daily basis based on an agreed-upon daily rate after the guest has stayed at one of our hotels. Customer incentive discounts, cash rebates, and refunds are recognized as a reduction of room revenues. Occupancy, hotel, and sales taxes collected from customers and remitted to the taxing authorities are excluded from revenues in the accompanying condensed consolidated statements of operations. Included in franchise and other fee-based revenues are franchise fee revenues, which primarily consist of revenues from franchisees for application and initial fees, royalty, reservations, and training, as well as fees related to our guest loyalty program (“Returns”). We recognize franchise fee revenue on a gross basis because we (1) are the primary obligor in these arrangements, (2) have latitude in establishing rates, (3) perform the services delivered, (4) have some discretion over supplier selection, and (5) determine the specification of services delivered. The different types of franchise fee revenues are described as follows: • Upon execution of a franchise agreement, a franchisee is required to pay us an initial fee. We recognize the initial fee as revenue when substantial performance of our obligations to the franchisee with respect to the initial fee has been achieved. In most cases, the vast majority of the initial fee is recognized as revenue when each franchise agreement is signed as, after that date, our remaining obligations to the franchisee are limited to (1) pre-opening inspections, for which we defer $2,500, and (2) if mandated by us or agreed to with the franchisee, preopening training and marketing support related to entry into the La Quinta brand, for which we defer $5,000. These amounts represent an estimate of the value provided to the franchisee related to the services provided, and are based on our experience with time, materials, and third-party costs necessary to provide these services. We recognize the remaining deferred initial fee as revenue when the franchised property opens as the remaining service obligations have been fulfilled. • For franchise agreements entered into prior to April 1, 2013, we collect a monthly royalty fee from franchisees generally equal to 4.0% of their room revenues until the franchisee has operated as a La Quinta hotel for twenty-four consecutive months. Beginning in the twenty-fifth month of operation, the franchisee monthly royalty fee increases to 4.5%. Pursuant to franchise agreements entered into with new US franchisees on or after April 1, 2013, we collect a royalty fee from franchisees equal to 4.5% of their room revenues until the franchisee has operated as a La Quinta hotel for twenty-four consecutive months. Beginning in the twenty-fifth month of operation, the franchisee monthly royalty fee increases to 5.0%. In each of these cases, the franchisee has the opportunity to earn the additional 0.5% back via rebate by achieving certain defined customer satisfaction results. Pursuant to franchise agreements entered into with franchisees outside of the US on or after April 1, 2013, we generally collect a royalty fee from franchisees equal to 4.5% of their room revenues throughout the term and do not offer a rebate. • We receive reservation and technology fees, as well as fees related to Returns, in connection with franchising our La Quinta brand. Such fees are recognized based on a percentage of the franchisee’s eligible hotel room revenues or room count. We also perform certain other services for franchisees such as training and revenue management. Revenue for these services is recognized at the time the services are performed. Included in franchise and other fee-based revenues are management fees of approximately $0.1 million for the three months ended June 30, 2014 and approximately $0.7 million for the six months ended June 30, 2014, which represent fees earned from the Previously Managed Hotels, prior to their acquisition on April 14, 2014. Management fees from hotels include a base fee, which is generally a percentage of hotel revenues. ( See Note 9 Other hotel revenues include revenues generated by the incidental support of hotel operations for owned hotels and other rental income. We record rental income from operating leases associated with leasing space for restaurants, billboards, and cell towers. Rental income is recognized on a straight-line basis over the life of the respective lease agreement. Brand marketing fund revenues from franchise and managed properties represent fees collected from franchised and managed hotels related to maintaining our Brand Marketing Fund (“BMF”). We maintain the BMF on behalf of all La Quinta branded hotel properties, including our owned hotels, from which national marketing and advertising campaign expenses are paid. Each La Quinta branded hotel is charged a percentage of its room revenue from which the expenses of the fund are covered. The corresponding expenditures of the BMF fees collected from franchised and managed hotels are presented as brand marketing fund expenses from franchised and managed hotels in our condensed consolidated statements of operations, resulting in no net impact to operating income or net loss. Lodging operations are particularly sensitive to adverse economic and competitive conditions and trends, which could adversely affect the Company’s business, financial condition, and results of operations.
Derivative Instruments	Derivative Instruments We record all derivatives at fair value. On the date the derivative contract is entered, we designate the derivative as one of the following: a hedge of a forecasted transaction or the variability of cash flows to be paid (“cash flow hedge”), a hedge of the fair value of a recognized asset or liability (“fair value hedge”), or an undesignated hedge instrument. Changes in the fair value of a derivative that is qualified, designated and highly effective as a cash flow hedge or net investment hedge are recorded in the condensed consolidated statements of comprehensive income (loss) until they are reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Changes in the fair value of a derivative that is qualified, designated and highly effective as a fair value hedge, along with the gain or loss on the hedged asset or liability that is attributable to the hedged risk, are recorded in current period earnings. Changes in the fair value of undesignated derivative instruments and the ineffective portion of designated derivative instruments are reported in current period earnings. Cash flows from designated derivative financial instruments are classified within the same category as the item being hedged in the condensed consolidated statements of cash flows. If we determine that we qualify for and will designate a derivative as a hedging instrument at the designation date, we formally document all relationships between hedging activities, including the risk management objective and strategy for undertaking various hedge transactions. This process includes matching all derivatives that are designated as cash flow hedges to specific forecasted transactions, linking all derivatives designated as fair value hedges to specific assets and liabilities in our condensed consolidated balance sheets, and determining the foreign currency exposure of net investment of the foreign operation for a net investment hedge. On a quarterly basis, we assess the effectiveness of our designated hedges in offsetting the variability in the cash flows or fair values of the hedged assets or obligations via use of a statistical regression approach. Additionally, we measure ineffectiveness using the hypothetical derivative method. This method compares the cumulative change in fair value of each hedging instrument to the cumulative change in fair value of a hypothetical hedging instrument, which has terms that identically match the critical terms of the respective hedged transactions. Thus, the hypothetical hedging instrument is presumed to perfectly offset the hedged cash flows. Ineffectiveness results when the cumulative change in the fair value of the hedging instrument exceeds the cumulative change in the fair value of the hypothetical hedging instrument. We discontinue hedge accounting prospectively when the derivative is not highly effective as a hedge, the underlying hedged transaction is no longer probable, or the hedging instrument expires, is sold, terminated or exercised.
Equity-Based Compensation	Equity Based Compensation The measurement objective for these equity awards is the estimated fair value at the grant date of the equity instruments that we are obligated to issue when employees have rendered the requisite service and satisfied any other conditions necessary to earn the right to benefit from the instruments. The compensation cost for an award classified as an equity instrument is recognized ratably over the requisite service period, including an estimate of forfeitures. The requisite service period is the period during which an employee is required to provide service for an award to vest. Compensation cost for awards with performance conditions is recognized over the requisite service period if it is probable that the performance condition will be satisfied. If such performance conditions are not considered probable until they occur, no compensation expense for these awards is recognized.
Income Taxes	Income Taxes Prior to the IPO, certain of our subsidiaries had elected to be treated as REITs for federal income tax purposes under the United States Internal Revenue Code. To qualify as REITs, these subsidiaries had to meet all of the required organizational and operational requirements, including a requirement that the REIT distribute at least 90% of its regular taxable income to its shareholders as dividends eligible for the dividends paid deduction. Prior to the IPO, the REIT subsidiaries adhered to these requirements. If the REIT subsidiaries failed to qualify as REITs in any taxable year, they would be subject to federal income taxes at regular corporate rates (including any applicable alternative minimum tax) and might not qualify as REITs for the four subsequent taxable years. For this reason, one of our REITs formed taxable subsidiaries to hold certain assets that could have otherwise adversely affected its REIT status. These taxable subsidiaries are or were subject to federal and state income taxes. On April 14, 2014, the La Quinta Predecessor Entities were contributed to Holdings, a “C” corporation, the shares of capital stock held by third-party shareholders of our REIT entities were redeemed for cash totaling approximately $3.9 million, and our REITs were converted into limited liability companies. As a result of these transactions, we have become subject to additional entity-level taxes and, as of April 14, 2014, we recorded a one-time net deferred tax expense of $321.1 million, which reflects the establishment of the associated net deferred tax liability.
Newly Issued and Adopted Accounting Standards	Newly Issued Accounting Standards In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09. The new guidance on revenue from contracts with customers will supersede most current revenue recognition guidance, including industry-specific guidance. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The guidance provides a five-step analysis of transactions to determine when and how revenue is recognized. Other major provisions include capitalization of certain contract costs, consideration of time value of money in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. The guidance also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. The guidance is effective for the interim and annual periods beginning on or after December 15, 2017; early adoption is permitted for annual reporting periods beginning after December 15, 2016. The guidance permits the use of either a retrospective or cumulative effect transition method. We have not yet selected a transition method and are currently evaluating the impact of the amended guidance on our consolidated financial position, results of operations and related disclosures. In January 2015, the FASB issued ASU No. 2015-01, “Income Statement – Extraordinary and Unusual Items (Subtopic 225-20).” The amendments in this ASU eliminate the requirement of Extraordinary Items to be separately classified on the income statement. This will alleviate uncertainty for preparers, auditors, and regulators because auditors and regulators no longer will need to evaluate whether a preparer treated an unusual and/or infrequent item appropriately. The update is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments prospectively or retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. We do not anticipate that the adoption of this standard will have a material impact on our financial position, results of operations and related disclosures. In February 2015, the FASB issued ASU No. 2015-02, “Consolidation (Topic 810)—Amendments to the Consolidation Analysis.” The update primarily amends the criteria used to evaluate whether certain variable interest entities should be consolidated and modifies the criteria used to determine whether partnerships and similar entities are variable interest entities. The update is effective for interim and annual periods beginning after December 15, 2015 with early adoption permitted, including in the interim periods. We do not anticipate that the adoption of this standard will have a material impact on our financial position, results of operations and related disclosures. In April 2015, the FASB issued ASU No. 2015-03, “Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs.” This ASU requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the debt liability rather than as an asset, which is consistent with the presentation of debt discounts or premiums. The provisions of ASU No. 2015-03 are effective for reporting periods beginning after December 31, 2015 and is required to be adopted retroactively; early adoption is permitted. We do not anticipate that the adoption of this standard will have a significant impact on our financial position, results of operations and related disclosures. Newly Adopted Accounting Standards In April 2014, the FASB issued ASU No. 2014-08. Under the new guidance, only a disposal of a component that represents a major strategic shift of an organization qualifies for discontinued operations reporting. The guidance also requires expanded disclosures about discontinued operations and new disclosures in regards to individually significant disposals that do not qualify for discontinued operations reporting. This guidance is effective for the first interim or annual period beginning on or after December 15, 2014. We adopted this standard as of January 1, 2015. This adoption impacts the comparability of our financial statements as disposals of individual owned hotels will generally no longer qualify as discontinued operations. From time to time, new accounting standards are issued by FASB or other standards setting bodies, which we adopt as of the specified effective date. Unless otherwise discussed, we believe the impact of recently issued standards that are not yet effective will not have a material impact on our consolidated financial statements upon adoption.

Organization and Basis of Pre24

Organization and Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Hotels Owned, Franchised, and Number of Associated Rooms	As of June 30, 2015 and 2014, total owned and franchised hotels, and the approximate number of associated rooms were as follows: June 30, 2015 June 30, 2014 # of hotels # of rooms # of hotels # of rooms Owned 351 44,600 352 44,800 Joint Venture 1 200 1 200 Franchised 526 42,400 495 40,000 Totals 878 87,200 848 85,000

Assets Held for Sale and Disc25

Assets Held for Sale and Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
Summary of Results from Discontinued Operations	The following table summarizes the operating results of the discontinued operations: For the six months 2014 (in thousands) Hotel revenues $ 361 Direct lodging expenses 651 Other lodging and operating expenses 62 Operating income (loss) (352 ) Depreciation and amortization — Impairment loss (151 ) Loss on discontinued operations $ (503 )

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Schedule of Unaudited Proforma Results of Operation	The following unaudited pro forma results of operations reflect our results as if the acquisition of the Previously Managed Hotels had occurred on January 1, 2014. In our opinion, all significant adjustments necessary to reflect the effects of the acquisitions have been made (in thousands, except per share data): For the three months ended June 30, For the six months 2014 2014 Total revenues $ 261,807 $ 489,518 Net loss attributable to La Quinta Holdings’ stockholders (337,999 ) (342,360 ) Basic and diluted earnings per share (2.66 ) (2.75 )

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Summary of Property and Equipment	The following is a summary of property and equipment as of June 30, 2015 and December 31, 2014: June 30, 2015 December 31, 2014 (in thousands) Land $ 822,664 $ 836,514 Buildings and improvements 2,764,944 2,799,967 Furniture, fixtures, equipment and other 413,452 403,271 Total property and equipment 4,001,060 4,039,752 Less accumulated depreciation (1,266,911 ) (1,214,450 ) Property and equipment, net 2,734,149 2,825,302 Construction in progress 7,341 946 Total property and equipment, net of accumulated depreciation $ 2,741,490 $ 2,826,248

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt as of June 30, 2015 and December 31, 2014 was as follows: June 30, December 31, (in thousands) Current: Term Facility (1) $ 17,560 $ 19,001 Non-current: Term Facility (1) 1,724,969 1,866,698 Total debt $ 1,742,529 $ 1,885,699 (1) As of June 30, 2015 and December 31, 2014, the 30 day United States dollar London Interbank Offering Rate (“LIBOR”) was 0.19% and 0.16%, respectively. As of June 30, 2015, the interest rate, maturity date and principal payments on the Term Facility were as follows: • The terms of the Term Facility require us to make certain scheduled principal payments quarterly beginning September 30, 2014. Final maturity is April 2021. During the six months ended June 30, 2015, we made voluntary principal prepayments of $135.0 million and quarterly scheduled principal payments of $9.0 million, • The interest rate for the Term Facility through June 30, 2015 was LIBOR with a floor of 1.0% plus a spread of 3.0%. Included in the Term Facility as of June 30, 2015 and December 31, 2014 is an unamortized original issue discount of $8.9 million and $9.6 million, respectively. As of June 30, 2015 and December 31, 2014, we had $17.1 million and $18.6 million, respectively, in accrued interest included within accrued expenses and other liabilities in the accompanying condensed consolidated balance sheets.
Schedule of Interest Expense, Net	Net interest expense, including the impact of our interest rate swap (see Note 7), consisted of the following for the three and six months ended June 30, 2015 and 2014: For the three months For the six months Description 2015 2014 2015 2014 (in thousands) Term Facility $ 20,951 $ 20,360 $ 42,442 $ 20,360 Mortgage Loan (1) — 7,037 — 23,754 Holdco III Mortgage Loan (2) — 404 — 3,206 Mezzanine Loans (3) Current — 920 — 3,107 Deferred — 5,524 — 18,600 Amortization of long-term debt reduction — (383 ) — (1,532 ) Amortization of original issue discount 349 — 695 — Amortization of deferred financing costs 949 1,953 1,891 5,297 Other interest 2 4 5 8 Interest income (60 ) (14 ) (71 ) (35 ) Total interest expense, net $ 22,191 $ 35,805 $ 44,962 $ 72,765 (1) Refers to our mortgage loan agreement entered into on July 6, 2007 (the “Mortgage Loan”). In December 2007, a portion of the Mortgage Loan was refinanced with a senior mezzanine loan. (2) Refers to Holdco III’s mortgage loan entered into in December 2011 (the “Holdco III Mortgage Loan”). (3) In July 2007, we entered into five unsecured, mezzanine loans. The senior mezzanine loan referred to in footnote (1) and the five unsecured, mezzanine loans are collectively referred to as the “Mezzanine Loans.”

Derivative Instruments and He29

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Effects of Fair Value of Derivative Instruments in Consolidated Balance Sheets	The effects of our derivative instruments on our condensed consolidated balance sheets were as follows: June 30, 2015 December 31, 2014 Balance Sheet Fair Value Balance Sheet Fair Value (in thousands) Cash Flow Hedges: Interest rate swap Other long- $ (8,976 ) Other long- $ (4,811 )
Earnings Effect of Derivative Instruments in Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Comprehensive Income	The effects of our derivative instruments on our condensed consolidated statements of operations and condensed consolidated statements of comprehensive income, net of the effect for income taxes, were as follows: Classification of Gain For the three months For the six months 2015 2014 2015 2014 (in thousands) Cash Flow Hedges: Interest rate swap (1) Other comprehensive $ 1,712 $ (2,536 ) $ (2,707 ) $ (2,536 ) Non-designated Hedges: Interest rate caps Other income (loss) — — — — (1) There were no amounts recognized in earnings related to hedge ineffectiveness or amounts excluded from hedge effectiveness testing during the three and six months ended June 30, 2015. (2) The interest rate caps expired in July 2014.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Carrying Amount and Estimated Fair Values of Financial Assets and Liabilities	The carrying amount and estimated fair values of our financial assets and liabilities, which include related current portions, were as follows: June 30, 2015 December 31, 2014 Carrying Fair Value Carrying Fair Value (in thousands) Cash and cash equivalents (1) $ 56,497 $ 56,497 $ 109,857 $ 109,857 Interest rate swaps (2) (8,976 ) (8,976 ) (4,811 ) (4,811 ) Long-term debt (3) 1,742,529 1,740,822 1,885,699 1,846,181 (1) Classified as Level 1 under the fair value hierarchy. (2) Classified as Level 2 under the fair value hierarchy. (3) Classified as Level 3 under the fair value hierarchy.
Schedule of Fair Value of Assets Measured on Non-recurring Basis and Related Impairment Charges	The following fair value hierarchy table presents information about assets measured at fair value on a nonrecurring basis during the period ended June 30, 2015: June 30, 2015 Level 1 Level 2 Level 3 Total Fair Impairment (in thousands) 24 Owned Hotels $ — $ — $ 71,235 $ 71,235 $ 42,498 The following fair value hierarchy table presents information about assets measured at fair value on a nonrecurring basis during as of December 31, 2014: December 31, 2014 Level 1 Level 2 Level 3 Total Fair Impairment (in thousands) 1 La Quinta Inn $ — $ — $ 249 $ 249 $ 5,157

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2015
Performance Unit Grant [Member]
Assumptions Used in Determining Fair Value of Performance Unit Grant	The grant date fair value of the 2014 Performance Unit Grant was $19.80 per share, which was determined using a Monte Carlo simulation valuation model with the following assumptions: Expected volatility (1) 24.05 % Dividend yield (2) — % Risk-free rate (3) 0.70 % Expected term (in years) (4) 2.6 (1) Due to limited trading history for our common stock, we did not have sufficient information available on which to base a reasonable and supportable estimate of the expected volatility of our share price. As a result, we used an average historical volatility of our peer group over a time period consistent with our expected term assumption. Our peer group was determined based upon companies in our industry with similar business models and is included with those companies used to benchmark our executive compensation. (2) At the time of the 2014 Performance Unit Grant, we had no foreseeable plans to pay dividends during the expected term of these performance shares. (3) Based on the yields of U.S. Department of Treasury instruments with similar expected lives. (4) Midpoint of the 30-calendar day period preceding the end of the performance period.
Performance Unit Grant II [Member]
Assumptions Used in Determining Fair Value of Performance Unit Grant	The grant date fair value of the 2015 Performance Unit Grant was $25.35 per share, which was determined using a Monte Carlo simulation valuation model with the following assumptions: Expected volatility (1) 31.66 % Dividend yield (2) — % Risk-free rate (3) 1.00 % Expected term (in years) (4) 2.87 (1) Expected volatility is calculated as the average of the long-term historical volatility based on the peer companies and our implied volatility. (2) At the time of the 2015 Performance Unit Grant, we had no foreseeable plans to pay dividends during the expected term of these performance shares. (3) Based on the yields of U.S. Department of Treasury instruments with similar expected lives. (4) As of the grant date.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Reconciliation of Numerators and Denominators Used for Computation of Basic and Diluted Earnings Per Share	The calculations of basic and diluted earnings per share are as follows: For the three months For the six months 2015 2014 2015 2014 (in thousands, except per share data) Numerator: Income (loss) from continuing operations, attributable to La Quinta Holdings’ stockholders $ (4,663 ) $ (338,578 ) $ 1,479 $ (345,418 ) Loss from discontinued operations, attributable to La Quinta Holdings’ stockholders — — — (503 ) Net loss attributable to La Quinta Holdings’ stockholders $ (4,663 ) $ (338,578 ) $ 1,479 $ (345,921 ) Denominator: Weighted average number of shares outstanding, basic 129,544 126,832 128,971 124,427 Weighted average number of shares outstanding, diluted 129,544 126,832 130,310 124,427 Income (loss) from continuing operations, attributable to La Quinta Holdings’ stockholders per common share, basic and diluted $ (0.04 ) $ (2.67 ) $ 0.01 $ (2.78 ) Loss from discontinued operations attributable to La Quinta Holdings’ stockholders per common share, basic and diluted — — — — Basic and diluted earnings per share $ (0.04 ) $ (2.67 ) $ 0.01 $ (2.78 )

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Summarized Consolidated Financial Information by Segment	The table below shows summarized consolidated financial information by segment for the three and six months ended June 30, 2015 and 2014: For the three months For the six months 2015 2014 2015 2014 (in thousands) Revenues Owned hotels $ 242,443 $ 231,596 $ 465,893 $ 426,298 Franchise and management (1) 30,144 26,658 55,897 39,923 Segment revenues 272,587 258,254 521,790 466,221 Other fee-based revenues from franchise and managed properties 6,234 5,668 11,292 10,353 Corporate and other (2) 33,696 31,201 63,105 54,028 Intersegment elimination (3) (38,629 ) (34,834 ) (74,193 ) (53,004 ) Total revenues $ 273,888 $ 260,289 $ 521,994 $ 477,598 Adjusted EBITDA Owned hotels $ 90,636 $ 85,815 $ 166,824 $ 161,275 Franchise and management 30,144 26,658 55,897 39,923 Segment Adjusted EBITDA 120,780 112,473 222,721 201,198 Corporate and other (8,944 ) (6,962 ) (20,881 ) (20,236 ) Adjusted EBITDA $ 111,836 $ 105,511 $ 201,840 $ 180,962 (1) This segment includes intercompany fees which are charged to our owned hotels to reflect that certain functions, such as licensing and management, are included in the franchise and management segment. Prior to the IPO, we charged aggregate fees of 2.0% (0.33% license fees for trademark rights and 1.67% management fee for management services) to our owned hotels. In connection with the IPO, we entered into a new franchise agreement with our owned hotels, which covers certain services as well as trademark rights, and a new management agreement and terminated the existing agreements with our owned hotels. The new agreements, which commenced April 14, 2014, provide for a franchise fee of 4.5% of gross room revenues and a management fee of 2.5% of gross operating revenue for our owned hotels. Our consolidated financial information by segment for periods prior to April 14, 2014 presented herein reflects the historical aggregate fees of 2.0%. (2) Includes revenues related to our brand management programs and other cost reimbursements. The portions of these fees that are charged to our owned hotels totaled $20.0 million and $18.4 million for the three month periods ended June 30, 2015 and 2014, respectively, and $38.3 million and $30.9 million for the six month periods ended June 30, 2015 and 2014, respectively. The franchise agreement we entered into with our owned hotels upon effectiveness of the IPO also includes a reservation fee of 2.0% of gross room revenues, which is reflected in corporate and other. These fees are charged to owned hotels and are eliminated in the accompanying condensed consolidated financial statements. (3) Includes management, license, franchise, BMF, Returns, reservation fees and other cost reimbursements totaling $38.6 million and $34.8 million for the three month periods ended June 30, 2015 and 2014, respectively and $74.2 million and $53.0 million for each of the six month periods ended June 30, 2015 and 2014, respectively. These fees are charged to owned hotels and are eliminated in the accompanying condensed consolidated financial statements.
Reconciliation of Adjusted EBITDA to EBITDA and EBITDA to Net Income (Loss) Attributable to Company	The table below provides a reconciliation of Adjusted EBITDA to EBITDA and EBITDA to net income (loss) attributable to La Quinta Holdings’ stockholders for the three and six months ended June 30, 2015 and 2014: For the three months For the six months 2015 2014 2015 2014 (in thousands) Adjusted EBITDA $ 111,836 $ 105,511 $ 201,840 $ 180,962 Loss from discontinued operations — — — (377 ) Impairment loss (42,498 ) (5,157 ) (42,498 ) (5,308 ) Loss on sale (4,003 ) — (4,003 ) — Loss on retirement of assets — — (161 ) — Gain (loss) related to casualty disasters 134 845 (671 ) 998 Loss on extinguishment of debt, net — (2,030 ) — (2,030 ) Equity based compensation (4,175 ) (31,103 ) (13,144 ) (31,103 ) Other gains (losses), net (1) (1,501 ) (1,347 ) (4,273 ) (388 ) EBITDA 59,793 66,719 137,090 142,754 Interest expense (22,251 ) (35,818 ) (45,033 ) (72,800 ) Income tax provision 2,380 (4,950 ) (1,960 ) (5,698 ) Recognition of net deferred tax liabilities upon C-corporation conversion — (321,054 ) — (321,054 ) Depreciation and amortization (44,489 ) (43,532 ) (88,350 ) (85,359 ) Noncontrolling interests (96 ) 57 (268 ) (3,764 ) Net income (loss) attributable to La Quinta Holdings’ stockholders $ (4,663 ) $ (338,578 ) $ 1,479 $ (345,921 ) (1) Other gains (losses), net primarily consist of net income (loss) attributable to the BMF (which, over time, runs at a break-even level, but may reflect a profit or loss from period to period), secondary offering costs, IRS legal defense costs and litigation reserve adjustments.
Reconciliation of Assets for Reportable Segments to Consolidated Amounts	The following table presents assets for our reportable segments, reconciled to consolidated amounts as of June 30, 2015 and December 31, 2014: June 30, December 31, (in thousands) Total Assets Owned hotels $ 2,812,859 $ 2,928,180 Franchise and management 194,273 191,410 Total segments assets 3,007,132 3,119,590 Corporate and other 105,865 146,117 Total $ 3,112,997 $ 3,265,707
Reconciliation of Capital Expenditures for Reportable Segments to Consolidated Amounts	The following table presents capital expenditures for our reportable segments, reconciled to our consolidated amounts for the six month periods ended June 30, 2015 and 2014: For the six months 2015 2014 Capital Expenditures Owned hotels $ 38,116 $ 37,093 Franchise and management — — Total segment capital expenditures 38,116 37,093 Corporate and other 11,140 11,690 Total $ 49,256 $ 48,783

Organization and Basis of Pre34

Organization and Basis of Presentation - Additional Information (Detail) $ in Thousands	Apr. 14, 2014USD ($)Hotelshares	Feb. 06, 2014Hotel	Apr. 30, 2015shares	Nov. 30, 2014shares	Jun. 30, 2015USD ($)Hotelshares	Dec. 31, 2013Hotel	Sep. 30, 2013Hotel	Jun. 30, 2015USD ($)shares	Jun. 30, 2014USD ($)	Dec. 31, 2014shares
Business Acquisition [Line Items]
Number of hotels acquired | Hotel	14
Aggregate of common stock of Holdings					130,957,053			130,957,053		130,778,365
Number of hotels sold | Hotel		4			1	40	40
Proceeds from sale of hotel | $					$ 3,000			$ 3,092	$ 7,053
Loss on sale of hotel | $					$ 4,003			$ 4,003
Business acquisition ownership interest percentage	100.00%
Business acquisition cash paid | $	$ 800
IPO [Member]
Business Acquisition [Line Items]
Initial public offering, issued and sold	44,000,000
Parent Company [Member]
Business Acquisition [Line Items]
Aggregate of common stock of Holdings					81,060,000			81,060,000
Blackstone [Member]
Business Acquisition [Line Items]
Percentage of common shares outstanding					26.90%			26.90%
Blackstone [Member] | Secondary Offering [Member]
Business Acquisition [Line Items]
Initial public offering, issued and sold			23,900,000	23,000,000

Organization and Basis of Pre35

Organization and Basis of Presentation - Summary of Hotels Owned, Franchised, and Number of Associated Rooms (Detail)	Jun. 30, 2015RoomHotel	Jun. 30, 2014RoomHotel
Investment Holdings [Line Items]
Number of hotels	878	848
Number of rooms | Room	87,200	85,000
Owned [Member]
Investment Holdings [Line Items]
Number of hotels	351	352
Number of rooms | Room	44,600	44,800
Joint Venture [Member]
Investment Holdings [Line Items]
Number of hotels	1	1
Number of rooms | Room	200	200
Franchised [Member]
Investment Holdings [Line Items]
Number of hotels	526	495
Number of rooms | Room	42,400	40,000

Significant Accounting Polici36

Significant Accounting Policies and Recently Issued Accounting Standards - Additional Information (Detail) - USD ($)	Apr. 14, 2014	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Summary Of Significant Accounting Policies [Line Items]
Management fees		$ 100,000		$ 700,000
Percentage of dividend paid deduction			90.00%
Number of subsequent taxable years			4 years
Redeemed for cash totaling	$ 3,900,000
Net deferred tax expense	$ 321,100,000	$ 321,054,000		$ 321,054,000
Pre Opening Inspections [Member]
Summary Of Significant Accounting Policies [Line Items]
Pre-opening inspections			$ 2,500
Pre Opening Training Marketing [Member]
Summary Of Significant Accounting Policies [Line Items]
Pre-opening inspections			$ 5,000
Franchise Agreements Prior to April 1, 2013 [Member]
Summary Of Significant Accounting Policies [Line Items]
Royalty fee			4.00%
Royalty fee			4.50%
Increase in royalty fee			0.50%
Franchise Agreements on or after April 1, 2013 [Member]
Summary Of Significant Accounting Policies [Line Items]
Royalty fee			4.50%
Royalty fee			5.00%
Increase in royalty fee			0.50%
Royalty fee from new franchisees outside of the US			4.50%

Assets Held for Sale and Disc37

Assets Held for Sale and Discontinued Operations - Additional Information (Detail) - Hotel	Feb. 06, 2014	Jun. 30, 2015	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013
Asset Retirement Obligation Disclosure [Abstract]
Number of hotels held for sale					44
Number of hotels sold	4	1	40	40

Assets Held for Sale and Disc38

Assets Held for Sale and Discontinued Operations - Summary of Results from Discontinued Operations (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2014USD ($)
Asset Retirement Obligation Disclosure [Abstract]
Hotel revenues	$ 361
Direct lodging expenses	651
Other lodging and operating expenses	62
Operating income (loss)	(352)
Depreciation and amortization	0
Impairment loss	(151)
Loss on discontinued operations	$ (503)

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - Apr. 14, 2014 - USD ($) $ in Millions	Total
Business Acquisition [Line Items]
Business acquisition ownership interest percentage	100.00%
Business acquisition cash paid	$ 0.8
Previously Managed Hotels [Member]
Business Acquisition [Line Items]
Total purchase price	161.7
Total net consideration paid	150.8
Purchase price owed by the parent company	10.9
Net consideration paid in the form cash	76.9
Net consideration paid in the form equity consideration	73.9
Significant assets acquired consist of property and equipment	166.5
Significant assets acquired consist of intangible assets	1.4
Significant long term liabilities acquired included unfavorable leasehold interests	$ 5.3
Previously Managed Hotels [Member] | LQ Management L.L.C. (LQM) [Member]
Business Acquisition [Line Items]
Business acquisition ownership interest percentage	100.00%
Business acquisition cash paid	$ 0.8

Acquisitions - Schedule of Unau

Acquisitions - Schedule of Unaudited Proforma Results of Operation (Detail) - Jun. 30, 2014 - USD ($) $ / shares in Units, $ in Thousands	Total	Total
Acquisition Pro Forma Results [Abstract]
Total revenues	$ 261,807	$ 489,518
Net loss attributable to La Quinta Holdings' stockholders	$ (337,999)	$ (342,360)
Basic and diluted earnings per share	$ (2.66)	$ (2.75)

Property and Equipment - Summar

Property and Equipment - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Property and Equipment, at cost	$ 4,001,060	$ 4,039,752
Less accumulated depreciation	(1,266,911)	(1,214,450)
Property and equipment, net	2,734,149	2,825,302
Construction in progress	7,341	946
Total property and equipment, net of accumulated depreciation	2,741,490	2,826,248
Land [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, at cost	822,664	836,514
Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, at cost	2,764,944	2,799,967
Furniture, Fixtures, Equipment and Other [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, at cost	$ 413,452	$ 403,271

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 42.1	$ 41.3	$ 83.8	$ 80.9

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Long-term debt, current	$ 17,560	$ 19,001
Term Facility, non-current	1,724,969	1,866,698
Total debt	1,742,529	1,885,699
Senior Secured Term Loan Facility [Member]
Debt Instrument [Line Items]
Long-term debt, current	17,560	19,001
Term Facility, non-current	$ 1,724,969	$ 1,866,698

Long-Term Debt - Schedule of 44

Long-Term Debt - Schedule of Long-Term Debt (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Jun. 30, 2015	Dec. 31, 2014
LIBOR [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate		0.19%	0.16%
Term Facility [Member]
Debt Instrument [Line Items]
Principal pre-payment on Term Facility		$ 135
Quarterly principal payments	$ 9
Debt instrument, interest rate		1.00%
Debt instrument, basis spread on variable rate		3.00%
Unamortized long-term debt reduction	$ 8.9	$ 8.9	$ 9.6
Accrued interest		$ 17.1	$ 18.6

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail)	Mar. 02, 2015	Sep. 30, 2014	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Debt Instrument [Line Items]
Debt issuance cost				$ 28,700,000
Debt issuance cost net				$ 24,300,000
Senior Secured Term Loan Facility [Member]
Debt Instrument [Line Items]
Senior secured credit facility			$ 2,100,000,000
Line of credit facility maturity year			2,021
Debt, interest rate terms				A rate equal to a margin over either (a) a base rate determined by reference to the highest of (1) the JPM prime lending rate, (2) the Federal Funds Effective Rate plus 1/2 of 1.00% and (3) the adjusted LIBOR rate for a one-month interest period plus 1.00% or (b) a LIBOR rate determined by reference to the Reuters LIBOR rate for the interest period relevant to such borrowing.
Federal funds effective rate description				Federal Funds Effective Rate plus 1/2 of 1.00%
Adjusted LIBOR rate			1.00%
Step-down rate			0.25%
First lien net leverage ratio, description				First lien net leverage ratio of less than or equal to 4.50 to 1.00
First lien net leverage ratio			4.50
Quarterly installments on term loan percentage		0.25%
Senior Secured Term Loan Facility [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Revolving facility margin rate			2.00%
Senior Secured Term Loan Facility [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Revolving facility margin rate			3.00%
Senior Secured Term Loan Facility [Member] | Maximum [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, floor interest rate			2.00%
Senior Secured Term Loan Facility [Member] | Minimum [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Debt instrument, floor interest rate			1.00%
Senior Secured Revolving Facility [Member]
Debt Instrument [Line Items]
Senior secured credit facility			$ 250,000,000
Line of credit facility maturity year			2,019
First lien net leverage ratio, description	First lien net leverage ratio less than or equal to 5.00 to 1.00
First lien net leverage ratio	5
Commitment fee rate	0.50%
Step-down commitment fee rate	0.375%
Letter of Credit [Member]
Debt Instrument [Line Items]
Senior secured credit facility			$ 50,000,000
Revolving Facility [Member]
Debt Instrument [Line Items]
Debt, interest rate terms				A rate equal to a margin over either (a) a base rate determined by reference to the highest of (1) the JPM prime lending rate, (2) the Federal Funds Effective Rate plus 1/2 of 1.00% and (3) the adjusted LIBOR rate for a one-month interest period plus 1.00% or (b) a LIBOR rate determined by reference to the Reuters LIBOR rate for the interest period relevant to such borrowing.
Federal funds effective rate description				Federal Funds Effective Rate plus 1/2 of 1.00%
Adjusted LIBOR rate			1.00%
Step-down rate	0.25%		0.25%
First lien net leverage ratio, description			First lien net leverage ratio of less than or equal to 5.00 to 1.00, 4.50 to 1.00 and 4.00 to 1.00	First lien net leverage ratio of less than 5.00 to 1.00
First lien net leverage ratio	5
Proceeds from letters of credit				$ 10,600,000	$ 10,600,000
Percentage of fee on letter of credit				2.63%
Step-down margin	2.38%
Revolving Facility [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Revolving facility margin rate			1.50%
Revolving Facility [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Revolving facility margin rate			2.50%
Revolving Facility [Member] | Step-down One [Member]
Debt Instrument [Line Items]
First lien net leverage ratio			5
Step-down margin	0.25%
Revolving Facility [Member] | Step-down Two [Member]
Debt Instrument [Line Items]
First lien net leverage ratio			4.50
Revolving Facility [Member] | Step-down Three [Member]
Debt Instrument [Line Items]
First lien net leverage ratio			4
Revolving Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
First lien net leverage ratio	5

Long-Term Debt - Schedule of In

Long-Term Debt - Schedule of Interest Expense, Net (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Interest Expense [Line Items]
Mortgage Loan		$ 7,037		$ 23,754
Deferred				18,601
Amortization of long-term debt reduction		(383)		(1,532)
Amortization of original issue discount	$ 349		$ 695
Amortization of deferred financing costs	949	1,953	1,891	5,297
Other interest	2	4	5	8
Interest income	(60)	(14)	(71)	(35)
Total interest expense, net	22,191	35,805	44,962	72,765
Term Facility [Member]
Interest Expense [Line Items]
Mortgage Loan	$ 20,951	20,360	$ 42,442	20,360
Holdco III Mortgage Loan [Member]
Interest Expense [Line Items]
Mortgage Loan		404		3,206
Mezzanine Loans [Member]
Interest Expense [Line Items]
Current		920		3,107
Deferred		$ 5,524		$ 18,600

Long-Term Debt - Schedule of 47

Long-Term Debt - Schedule of Interest Expense, Net (Parenthetical) (Detail)	Jul. 31, 2007Loans
Debt Disclosure [Abstract]
Number of mezzanine loans	5

Derivative Instruments and He48

Derivative Instruments and Hedging Activities - Additional Information (Detail) - Apr. 14, 2014 - Term Facility Interest Rate Swap [Member] - USD ($)	Total
Derivative [Line Items]
Aggregate notional amount	$ 850,000,000
Loan fixed-rate under new credit agreement	2.0311%
LIBOR floor percentage	1.00%
Interest rate swap agreement expiration date	Apr. 14, 2019

Derivative Instruments and He49

Derivative Instruments and Hedging Activities - Effects of Fair Value of Derivative Instruments in Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Interest Rate Swap [Member] | Other Long-Term Liabilities [Member]
Derivatives, Fair Value [Line Items]
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	$ (8,976)	$ (4,811)

Derivative Instruments and He50

Derivative Instruments and Hedging Activities - Earnings Effect of Derivative Instruments in Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Classification of Gain (Loss) Recognized	$ 1,712	$ (2,536)	$ (2,707)	$ (2,536)
Cash Flow Hedges [Member] | Interest Rate Swap [Member] | Other Comprehensive Income (Loss) [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Classification of Gain (Loss) Recognized	$ 1,712	$ (2,536)	$ (2,707)	$ (2,536)

Derivative Instruments and He51

Derivative Instruments and Hedging Activities - Earnings Effect of Derivative Instruments in Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Comprehensive Income (Parenthetical) (Detail) - Jun. 30, 2015 - USD ($)	Total	Total
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Amounts recognized in earnings related to hedge ineffectiveness	$ 0	$ 0

Fair Value Measurements - Carry

Fair Value Measurements - Carrying Amount and Estimated Fair Values of Financial Assets and Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Fair Value Disclosures [Abstract]
Cash and cash equivalents, carrying amount	$ 56,497	$ 109,857	$ 102,968	$ 33,412
Interest rate swaps, carrying amount	(8,976)	(4,811)
Long-term debt, carrying amount	1,742,529	1,885,699
Cash and cash equivalents, fair value	56,497	109,857
Interest rate swaps, fair value	(8,976)	(4,811)
Long-term debt, fair value	$ 1,740,822	$ 1,846,181

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015USD ($)Hotel	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)Hotel	Jun. 30, 2014USD ($)	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of hotels not considered for sale | Hotel	24		24
Impairment charges	$ 42,498,000	$ 5,157,000	$ 42,498,000	$ 5,157,000
Minimum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated selling prices	70,000,000
Maximum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated selling prices	$ 75,000,000
Long-term Debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Discount rate			4.00%		4.40%

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value of Assets Measured on Non-recurring Basis and Related Impairment Charges (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charge on assets held for use	$ 42,498	$ 5,157	$ 42,498	$ 5,157
1 La Quinta Inns [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets held for use					$ 249
Impairment charge on assets held for use					5,157
24 Owned Hotels [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets held for use	71,235		71,235
Impairment charge on assets held for use			42,498
Level 3 [Member] | 1 La Quinta Inns [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets held for use					$ 249
Level 3 [Member] | 24 Owned Hotels [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets held for use	$ 71,235		$ 71,235

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Millions	Apr. 14, 2014	Apr. 30, 2015	Jun. 30, 2015	Jun. 30, 2014	Apr. 14, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Related Party Transaction [Line Items]
Management fee					1.67%
LQM management agreements expiration date					Jul. 31, 2027
Management fees earned by LQM	$ 0.1				$ 0.2
Service reimbursement	0.1				0.2
Brand marketing fund fee percentage						2.50%
Return fee percentage						5.00%
Revenues related to Managed Hotels	0.1				0.3
Royalty fee percentage						0.33%
Royalty fees	$ 0.1				$ 0.1
Date of acquisition					Apr. 14, 2014
Purchase products and services from affiliates			$ 0.7	$ 0.8		$ 1.5	$ 1.5
Blackstone [Member]
Related Party Transaction [Line Items]
Fee paid to provide financial consulting services		$ 0.4
Senior Secured Term Loan Facility [Member] | Affiliates of Black Stone [Member]
Related Party Transaction [Line Items]
Senior secured credit facility			$ 31.2			$ 31.2		$ 43.9

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Jul. 07, 2014	Jun. 30, 2015
Commitments And Contingencies [Line Items]
Purchase commitments		$ 29,000,000
Outstanding commitments owed to various franchisees		$ 5,000,000
Internal Revenue Service (IRS) [Member]
Commitments And Contingencies [Line Items]
Notice of taxable adjustment from IRS	$ 158,000,000
Operating Loss Carryforwards	$ 89,000,000
Tax rate impose on REIT, federal and state tax authorities	100.00%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	Apr. 14, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Redeemed for cash totaling	$ 3,900
Net deferred tax expense	$ 321,100		$ 321,054		$ 321,054
Federal and State income Tax Rate			38.10%
Total Deferred Tax Liabilities			$ 462,300		462,300
Deferred tax assets			14,000		14,000
Tax benefit		$ (2,380)	4,950	$ 1,960	5,698
Provision for federal, state and foreign income tax expense (benefit)		$ (2,400)	$ 5,000	$ 2,000	$ 5,700

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	$ 0.6	$ 0.5	$ 1.2	$ 1
Employee Earnings First 3% [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of employer matching contribution			100.00%
Percentage of employee's eligible earnings			3.00%
Employee Earnings Next 2% [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of employer matching contribution			50.00%
Percentage of employee's eligible earnings			2.00%

Equity-Based Compensation - Add

Equity-Based Compensation - Additional Information (Detail) - USD ($)

Jun. 11, 2015

Feb. 28, 2015

Jan. 31, 2015

Jan. 20, 2015

Nov. 25, 2014

Jun. 11, 2014

Jun. 30, 2015

Jun. 30, 2014

Jun. 30, 2015

Jun. 30, 2014

Feb. 19, 2015

Dec. 31, 2014

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Total compensation expense

$ 4,175,000

$ 31,103,000

$ 13,144,000

$ 31,103,000

Common Stock, shares issued

130,957,053

130,957,053

130,778,365

Blackstone [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Holding percentage

26.90%

26.90%

Promote Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Expense accrued or recognized for Units granted

$ 0

Issuance of vested and unvested restricted shares

3,100,000

Initial public offering price

$ 17

$ 17

Total compensation expense

$ 500,000

26,200,000

$ 5,600,000

26,200,000

Forfeited shares for stock based compensation

9,658

Promote Plan [Member] | Common Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Holding percentage

50.00%

50.00%

Promote Plan [Member] | Common Stock [Member] | Vested [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage of common shares vested

40.00%

Promote Plan [Member] | Restricted Stock [Member] | Unvested [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage of common shares vested

40.00%

Promote Plan [Member] | Restricted Stock [Member] | Blackstone [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Holding percentage

50.00%

Promote Plan [Member] | Restricted Stock [Member] | Blackstone [Member] | Unvested [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage of common shares vested

20.00%

2014 Omnibus Incentive Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Issuance of vested and unvested restricted shares

350,000

Initial public offering price

$ 16.65

$ 16.65

Total compensation expense

$ 3,500,000

$ 4,700,000

$ 7,400,000

$ 4,700,000

Forfeited shares for stock based compensation

1,836

Grant-date fair value

$ 19.80

Unrecognized compensation expense

$ 27,400,000

Common stock shares available for future issuance

11,700,000

11,700,000

2014 Omnibus Incentive Plan [Member] | Common Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Holding percentage

50.00%

50.00%

2014 Omnibus Incentive Plan [Member] | Common Stock [Member] | Vested [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage of common shares vested

50.00%

Common stock vested, date

Apr. 14, 2015

2014 Omnibus Incentive Plan [Member] | Omnibus Incentive Plan Grant II [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Common Stock, shares issued

1,010,000

Grant price

$ 18.70

Performance unit grant, remaining life

1 year 4 months 24 days

2014 Omnibus Incentive Plan [Member] | 2015 Grant I [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Common Stock, shares issued

200,000

200,000

Performance unit grant, remaining life

1 year 6 months

Grant date weighted average price of awards

$ 21.88

$ 21.88

2014 Omnibus Incentive Plan [Member] | Restricted Stock [Member] | Unvested [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage of common shares vested

40.00%

2014 Omnibus Incentive Plan [Member] | Restricted Stock [Member] | Blackstone [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Holding percentage

50.00%

2014 Omnibus Incentive Plan [Member] | Restricted Stock [Member] | Blackstone [Member] | Unvested [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage of common shares vested

10.00%

2014 Omnibus Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Shares granted during the period

38,701

Grant-date fair value

$ 24.30

$ 20.57

$ 21.48

$ 18.70

2014 Omnibus Incentive Plan [Member] | Performance-based RSUs [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Common Stock, shares issued

500,000

Performance unit grant, remaining life

1 year 6 months

Restricted stock units issued

109

Description of value of units granted under the plan

The calculation of the value of the units granted under the 2014 Performance Unit Grant is weighted as follows 70% based on our total shareholder return ("TSR") relative to the total shareholder returns of a defined set of peer companies ("Relative Shareholder Return"); and 30% based on our absolute TSR compound annual growth rate ("TSR CAGR").

2014 Omnibus Incentive Plan [Member] | Performance-based RSUs [Member] | Minimum [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Payout range

33.00%

2014 Omnibus Incentive Plan [Member] | Performance-based RSUs [Member] | Maximum [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Payout range

167.00%

2014 Omnibus Incentive Plan Performance UG II [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Grant-date fair value

$ 25.35

2014 Omnibus Incentive Plan Performance UG II [Member] | Performance-based RSUs [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Common Stock, shares issued

300,000

Performance unit grant, remaining life

2 years 6 months

Description of value of units granted under the plan

The calculation of the value of the units granted under the 2015 Performance Unit Grant is based solely on our TSR relative to the Relative Shareholder Return.

2014 Omnibus Incentive Plan Performance UG II [Member] | Performance-based RSUs [Member] | Minimum [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Payout range

33.00%

2014 Omnibus Incentive Plan Performance UG II [Member] | Performance-based RSUs [Member] | Maximum [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Payout range

200.00%

Equity-Based Compensation - Ass

Equity-Based Compensation - Assumptions Used in Determining Fair Value of Performance Unit Grant (Detail) - 6 months ended Jun. 30, 2015	Total
Performance Unit Grant [Member]
Schedule Of Share Based Compensation Valuation Assumptions [Line Items]
Expected volatility	24.05%
Dividend yield
Risk-free rate	0.70%
Expected term (in years)	2 years 7 months 6 days
Performance Unit Grant II [Member]
Schedule Of Share Based Compensation Valuation Assumptions [Line Items]
Expected volatility	31.66%
Dividend yield
Risk-free rate	1.00%
Expected term (in years)	2 years 10 months 13 days

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation of Numerators and Denominators Used for Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Numerator:
Income (loss) from continuing operations, attributable to La Quinta Holdings' stockholders	$ (4,663)	$ (338,578)	$ 1,479	$ (345,418)
Loss from discontinued operations, attributable to La Quinta Holdings' stockholders				(503)
Net loss attributable to La Quinta Holdings' stockholders	$ (4,663)	$ (338,578)	$ 1,479	$ (345,921)
Denominator:
Weighted average number of shares outstanding, basic	129,544	126,832	128,971	124,427
Weighted average number of shares outstanding, diluted	129,544	126,832	130,310	124,427
Income (loss) from continuing operations, attributable to La Quinta Holdings' stockholders per common share, basic and diluted	$ (0.04)	$ (2.67)	$ 0.01	$ (2.78)
Loss from discontinued operations attributable to La Quinta Holdings' stockholders per common share, basic and diluted	0	0	0	0
Basic and diluted earnings per share	$ (0.04)	$ (2.67)	$ 0.01	$ (2.78)

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Anti-dilutive securities excluded from computation of diluted shares	1.1	1.2	0	0.5

Segments - Summarized Consolida

Segments - Summarized Consolidated Financial Information by Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting Information [Line Items]
Revenues	$ 273,888	$ 260,289	$ 521,994	$ 477,598
Adjusted EBITDA	111,836	105,511	201,840	180,962
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	272,587	258,254	521,790	466,221
Adjusted EBITDA	120,780	112,473	222,721	201,198
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Revenues	33,696	31,201	63,105	54,028
Adjusted EBITDA	(8,944)	(6,962)	(20,881)	(20,236)
Intersegment Elimination [Member]
Segment Reporting Information [Line Items]
Revenues	(38,629)	(34,834)	(74,193)	(53,004)
Owned Hotels [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	242,443	231,596	465,893	426,298
Adjusted EBITDA	90,636	85,815	166,824	161,275
Franchise and Management [Member]
Segment Reporting Information [Line Items]
Revenues	6,234	5,668	11,292	10,353
Franchise and Management [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	30,144	26,658	55,897	39,923
Adjusted EBITDA	$ 30,144	$ 26,658	$ 55,897	$ 39,923

Segments - Summarized Consoli64

Segments - Summarized Consolidated Financial Information by Segment (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting Information [Line Items]
Revenue from owned hotels	$ 20	$ 18.4	$ 38.3	$ 30.9
Reservation fee percentage			2.00%
Fee charged to owned hotels	$ 38.6	$ 34.8	$ 74.2	$ 53
Owned Hotels [Member]
Segment Reporting Information [Line Items]
Franchise fee percentage			4.50%
Management fee percentage			2.50%
Owned Hotels [Member] | Scenario, Previously Reported [Member]
Segment Reporting Information [Line Items]
Franchise and management fee percentage prior to IPO				2.00%
Management fee prior to IPO				1.67%
Owned Hotels [Member] | Historical Aggregate Fees [Member]
Segment Reporting Information [Line Items]
Franchise and management fee percentage prior to IPO				2.00%
Trademark Rights [Member] | Owned Hotels [Member]
Segment Reporting Information [Line Items]
License fee percentage				0.33%

Segments - Reconciliation of Ad

Segments - Reconciliation of Adjusted EBITDA to EBITDA and EBITDA to Net Income (Loss) Attributable to Company (Detail) - USD ($) $ in Thousands	Apr. 14, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting [Abstract]
Adjusted EBITDA		$ 111,836	$ 105,511	$ 201,840	$ 180,962
Loss from discontinued operations					(377)
Impairment loss		(42,498)	(5,157)	(42,498)	(5,308)
Loss on sale		(4,003)		(4,003)
Loss on retirement of assets				(4,164)
Gain (loss) related to casualty disasters		134	845	(671)	998
Loss on extinguishment of debt, net			(2,030)		(2,030)
Equity based compensation		(4,175)	(31,103)	(13,144)	(31,103)
Other gains (losses), net		(1,501)	(1,347)	(4,273)	(388)
EBITDA		59,793	66,719	137,090	142,754
Interest expense		(22,251)	(35,818)	(45,033)	(72,800)
Income tax provision		2,380	(4,950)	(1,960)	(5,698)
Recognition of net deferred tax liabilities upon C-corporation conversion	$ (321,100)		(321,054)		(321,054)
Depreciation and amortization		(44,489)	(43,532)	(88,350)	(85,359)
Noncontrolling interests		(96)	57	(268)	(3,764)
Net income (loss) attributable to La Quinta Holdings' stockholders		$ (4,663)	$ (338,578)	$ 1,479	$ (345,921)

Segments - Reconciliation of As

Segments - Reconciliation of Assets for Reportable Segments to Consolidated Amounts (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 3,112,997	$ 3,265,707
Operating Segments [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	3,007,132	3,119,590
Operating Segments [Member] | Owned Hotels [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	2,812,859	2,928,180
Operating Segments [Member] | Franchise and Management [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	194,273	191,410
Corporate and Other [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 105,865	$ 146,117

Segments - Reconciliation of Ca

Segments - Reconciliation of Capital Expenditures for Reportable Segments to Consolidated Amounts (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures	$ 49,256	$ 48,783
Operating Segments [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures	38,116	37,093
Operating Segments [Member] | Owned Hotels [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures	$ 38,116	$ 37,093
Operating Segments [Member] | Franchise and Management [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures
Corporate and Other [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures	$ 11,140	$ 11,690