La Quinta 10-Q 29 Oct 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 23, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
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		129,638,534

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$ 117,569	$ 109,857
Accounts receivable, net of allowance for doubtful accounts of $5,207 and $4,567	43,910	39,938
Assets held for sale	70,453
Deferred tax assets	28,947	59,746
Other current assets	13,267	11,581
Total Current Assets	274,146	221,122
Property and equipment, net of accumulated depreciation	2,645,993	2,826,248
Intangible assets, net of accumulated amortization	178,413	179,406
Deferred costs, net of accumulated amortization	25,211	28,295
Other non-current assets	11,161	10,636
Total Non-Current Assets	2,860,778	3,044,585
Total Assets	3,134,924	3,265,707
Current Liabilities:
Current portion of long-term debt	17,514	19,001
Accounts payable	27,943	21,447
Accrued expenses and other liabilities	74,868	71,117
Accrued payroll and employee benefits	40,794	35,196
Accrued real estate taxes	25,713	20,570
Total Current Liabilities	186,832	167,331
Long-term debt	1,720,988	1,866,698
Other long-term liabilities	35,249	23,727
Deferred tax liabilities	373,699	399,496
Total Liabilities	$ 2,316,768	$ 2,457,252
Commitments and Contingencies
Equity:
Preferred Stock, $0.01 par value; 100,000,000 shares authorized and none outstanding as of September 30, 2015 and December 31, 2014	$ 0	$ 0
Common Stock, $0.01 par value; 2,000,000,000 shares authorized at September 30, 2015, 130,983,804 shares issued and 129,638,534 shares outstanding as of September 30, 2015 and 130,778,365 shares issued and 130,695,274 shares outstanding as of December 31, 2014	1,310	1,307
Additional paid-in-capital	1,149,957	1,129,815
Accumulated deficit	(302,546)	(321,083)
Treasury stock at cost, 1,345,270 shares at September 30, 2015 and 83,091 shares at December 31, 2014	(23,004)	(1,532)
Accumulated other comprehensive loss	(10,420)	(3,127)
Noncontrolling interests	2,859	3,075
Total Equity	818,156	808,455
Total Liabilities and Equity	$ 3,134,924	$ 3,265,707

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts	$ 5,207	$ 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	130,983,804	130,778,365
Common Stock, shares outstanding	129,638,534	130,695,274
Treasury stock, shares	1,345,270	83,091

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
REVENUES:
Room revenues	$ 238,758	$ 234,658	$ 692,893	$ 649,181
Franchise and other fee-based revenues	28,504	25,224	75,558	68,215
Other hotel revenues	5,173	5,078	14,686	14,809
Revenue from leased and owned hotels	272,435	264,960	783,137	732,205
Brand marketing fund revenues from franchise and managed properties	6,668	6,158	17,960	16,511
Total Revenues	279,103	271,118	801,097	748,716
OPERATING EXPENSES:
Direct lodging expenses	105,268	101,076	302,775	285,430
Depreciation and amortization	44,363	45,086	132,293	129,948
General and administrative expenses	31,761	32,251	92,674	100,863
Other lodging and operating expenses	17,165	15,589	49,122	46,124
Marketing, promotional and other advertising expenses	19,230	16,639	57,034	50,170
Impairment loss	1,823		44,321	5,157
Loss on sale	85		4,088
Operating expenses	219,695	210,641	682,307	617,692
Brand marketing fund expenses from franchise and managed properties	6,668	6,158	17,960	16,511
Total Operating Expenses	226,363	216,799	700,267	634,203
Operating Income	52,740	54,319	100,830	114,513
OTHER INCOME (EXPENSES):
Interest expense, net	(20,970)	(24,495)	(65,932)	(97,260)
Loss on extinguishment of debt, net				(2,030)
Other income (loss)	719	(795)	1,298	(1,096)
Total Other Income (Expenses)	(20,251)	(25,290)	(64,634)	(100,386)
Income (Loss) from Continuing Operations Before Income Taxes	32,489	29,029	36,196	14,127
Income tax provision	(15,406)	(16,162)	(17,366)	(21,860)
Recognition of net deferred tax liabilities upon C-corporation conversion				(321,054)
Net Income (Loss) from Continuing Operations, net of tax	17,083	12,867	18,830	(328,787)
Loss on Discontinued Operations, net of tax				(503)
NET INCOME (LOSS)	17,083	12,867	18,830	(329,290)
Income from noncontrolling interests in continuing operations	(25)	(50)	(293)	(3,814)
Income from noncontrolling interests in discontinued operations	0	0	0	0
Net income attributable to noncontrolling interests	(25)	(50)	(293)	(3,814)
Amounts attributable to La Quinta Holdings’ stockholders
Income (loss) from continuing operations	17,058	12,817	18,537	(332,601)
Loss from discontinued operations				(503)
Net Income (Loss) attributable to La Quinta Holdings’ stockholders	$ 17,058	$ 12,817	$ 18,537	$ (333,104)
Earnings (loss) per share:
Basic and diluted	$ 0.13	$ 0.10	$ 0.14	$ (2.65)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement Of Income And Comprehensive Income [Abstract]
NET INCOME (LOSS)	$ 17,083	$ 12,867	$ 18,830	$ (329,290)
Cash flow hedge adjustment, net of tax	(4,586)	3,118	(7,293)	582
COMPREHENSIVE NET INCOME (LOSS)	12,497	15,985	11,537	(328,708)
Comprehensive net income attributable to noncontrolling interests	(25)	(50)	(293)	(3,814)
Comprehensive net income (loss) attributable to La Quinta Holdings’ stockholders	$ 12,472	$ 15,935	$ 11,244	$ (332,522)

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 Income (Loss) [Member]	Noncontrolling Interests [Member]	Member's Equity [Member]
Beginning Balance at Dec. 31, 2013	$ 305,253						$ (13,843)	$ 319,096
Net income (loss)	(329,290)				$ (316,890)		3,814	(16,214)
Capital contributions	21,516							21,516
Distributions	(4,504)						(4,398)	(106)
Issuance of common stock	693,221	$ 440		$ 692,781
Issuance of common stock, shares		43,987,500
Equity based compensation	39,578	$ 44		39,534
Equity based compensation, shares		4,434,867
Repurchase of common stock	(944)	$ (1)	$ (943)
Repurchase of common stock, shares		(56,102)
Acquisitions	73,106	$ 44		73,062
Acquisitions, shares		4,348,284
Cash flow hedge adjustment, net of tax	582					$ 582
La Quinta Predecessor Entities reorganization		$ 780		306,033			17,479	$ (324,292)
La Quinta Predecessor Entities reorganization, shares		78,008,014
Ending Balance at Sep. 30, 2014	798,518	$ 1,307	(943)	1,111,410	(316,890)	582	3,052
Ending Balance, shares at Sep. 30, 2014		130,722,563
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)	18,830				18,537		293
Distributions	(509)						(509)
Equity based compensation	19,212	$ 3		19,209
Equity based compensation, shares		204,549
Tax benefit related to equity based compensation	933			933
Repurchase of common stock	(21,472)		(21,472)
Repurchase of common stock, shares		(1,261,289)
Cash flow hedge adjustment, net of tax	(7,293)					(7,293)
Ending Balance at Sep. 30, 2015	$ 818,156	$ 1,310	$ (23,004)	$ 1,149,957	$ (302,546)	$ (10,420)	$ 2,859
Ending Balance, shares at Sep. 30, 2015		129,638,534

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
NET INCOME (LOSS)	$ 18,830	$ (329,290)
Adjustment to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	132,100	129,568
Amortization of other non-current assets	304	736
Amortization of intangible assets	713	807
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)
(Gain) loss related to casualty disasters	1,064	(1,125)
Write off of deferred incentive costs	4
Amortization of leasehold interests	(520)	(427)
Amortization of deferred costs	4,157	6,807
Loss on sale or retirement of assets	4,249
Impairment loss	44,321	5,308
Equity based compensation	19,212	39,578
Deferred income taxes	9,862	18,257
Recognition of net deferred tax liabilities upon C-corporation conversion		321,054
Excess tax benefits from equity based compensation	(933)
Provision for doubtful accounts	1,863	1,556
Changes in assets and liabilities:
Accounts receivable	(7,833)	(5,675)
Other current assets	(219)	3,066
Receivables from / payable to affiliates		1,298
Other non-current assets	(1,829)	(285)
Accounts payable	386	(8,391)
Accrued payroll and employee benefits	5,598	5,623
Accrued real estate taxes	5,143	4,005
Accrued expenses and other liabilities	3,681	15,241
Other long-term liabilities	1,102	868
Net cash provided by operating activities	241,255	227,678
Cash flows from investing activities:
Acquisitions, net of cash acquired		(77,667)
Capital expenditures	(74,383)	(65,832)
Decrease in restricted cash		103,026
Decrease in other non-current assets	1,000	382
Insurance proceeds on casualty disasters	5,370	997
Payment of franchise incentives	(30)	(400)
Proceeds from sale of assets	3,792	7,053
Net cash used in investing activities	(64,251)	(32,441)
Cash flows from financing activities:
Proceeds from long-term debt		2,100,000
Repayment of long-term debt	(148,244)	(2,896,452)
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	933
Purchase of treasury stock	(21,472)	(944)
Distributions		(106)
Distributions to noncontrolling interests	(509)	(4,398)
Capital contributions		21,516
Net cash used in financing activities	(169,292)	(120,161)
Increase in cash and cash equivalents	7,712	75,076
Cash and cash equivalents at the beginning of the period	109,857	33,412
Cash and cash equivalents at the end of the period	117,569	108,488
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid during the period	64,220	78,838
Income taxes paid during the period, net of refunds	12,002	3,733
SUPPLEMENTAL NON-CASH DISCLOSURE:
Capital expenditures included in accounts payable	4,604	2,166
Deferred costs included in proceeds from issuance of common stock		4,757
Cash flow hedge adjustment, net of tax	(7,293)	582
Receivable for capital assets damaged by casualty disasters	$ 3,302	$ 1,574

Organization and Basis of Prese

Organization and Basis of Presentation	9 Months Ended
	Sep. 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 September 30, 2015, Blackstone beneficially owned 27.1% 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 September 30, 2015 and 2014, total owned and franchised hotels, and the approximate number of associated rooms were as follows: September 30, 2015 September 30, 2014 # of hotels # of rooms # of hotels # of rooms Owned (1) 351 44,600 352 44,800 Joint Venture 1 200 1 200 Franchised 532 42,800 501 40,500 Totals 884 87,600 854 85,500 (1) 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	9 Months Ended
	Sep. 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 — Revenues primarily consist of room rentals, franchise fees and other hotel revenues. We defer a portion of our revenue from franchisees at the time the franchise agreement is signed and recognize the remainder upon hotel opening. 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 September 30, 2014 and approximately $0.7 million for the nine months ended September 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. Assets held for sale— Long-lived assets are classified as held for sale when all of the following criteria are met: • Management, having the authority to approve the action, commits to a plan to sell the asset and does not expect significant changes to the plan or that the plan will be withdrawn • The asset is available for immediate sale in its present condition • The asset is being actively marketed • The sale of the asset is probable within one year When we identify a long-lived asset as held for sale, depreciation of the asset is discontinued and the carrying value is reduced, if necessary, to the estimated sales price less costs to sell by recording a charge to current earnings. All assets held for sale are monitored through the date of sale for potential adjustments based on offers we are willing to take under serious consideration and continued review of facts and circumstances. Losses on sales are recorded to the extent that the amounts ultimately received for the sale of assets differ from the adjusted book values of the assets. Gains on sales are recognized at the time the assets are sold, provided there is reasonable assurance the sales price will be collected and any future activities to be performed by the Company relating to the assets sold are expected to be insignificant. Derivative Instruments — We use derivative instruments as part of our overall strategy to manage our exposure to market risks associated with fluctuations in interest rates. We regularly monitor the financial stability and credit standing of the counterparties to our derivative instruments. We do not enter into derivative financial instruments for trading or speculative purposes. 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 — We recognize the cost of services received in an equity based payment transaction with an employee as services are received and record either a corresponding increase in equity or a liability, depending on whether the instruments granted satisfy the equity or liability classification criteria. 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 — The accompanying condensed consolidated financial statements include taxable entities, limited liability companies, and, through April 14, 2014, REIT entities. Limited liability companies and REITs generally are not subject to federal income taxes at the entity level. For our taxable subsidiaries, we account for income taxes using the asset and liability approach for financial accounting and reporting purposes. For financial reporting purposes, income tax expense or benefit is based on reported financial accounting income or loss before non-controlling interests and income taxes related to our taxable subsidiaries. Deferred tax assets and liabilities reflect the temporary differences between assets and liabilities recognized for financial reporting and the analogous amounts recognized for tax purposes using the statutory tax rates expected to be in effect for the year in which the differences are expected to reverse, within the taxable subsidiaries. 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, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” 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	9 Months Ended
	Sep. 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 third quarter of 2015, 24 of our hotels and one additional restaurant parcel were classified as assets held for sale. The sale of these assets does not represent a major strategic shift and does not qualify for discontinued operations reporting. As of September 30, 2015, the carrying amounts of the major classes of assets for assets held for sale were as follows: As of September 30, 2015 (in thousands) Current assets $ 403 Property and equipment, net 69,485 Other non-current assets 565 Total assets held for sale $ 70,453 During the second quarter of 2013, 44 of our hotels were classified as assets held for sale, and the results of their operations, in accordance with accounting rules in place at that time, have 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 nine months ended September 30, 2014 (in thousands) Hotel revenues $ 361 Direct lodging expenses 651 Other lodging and operating expenses 62 Operating income (loss) (352 ) Impairment loss (151 ) Loss on discontinued operations $ (503 )

Acquisitions

Acquisitions	9 Months Ended
	Sep. 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 September 30, For the nine months ended September 30, 2014 2014 (in thousands) Total revenues $ 271,118 $ 760,636 Net income (loss) attributable to La Quinta Holdings’ stockholders 12,836 (329,525 ) Basic and diluted earnings per share 0.10 (2.62 )

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 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 September 30, 2015 and December 31, 2014: September 30, 2015 December 31, 2014 (in thousands) Land $ 794,051 $ 836,514 Buildings and improvements 2,700,415 2,799,967 Furniture, fixtures, equipment and other 409,683 403,271 Total property and equipment 3,904,149 4,039,752 Less accumulated depreciation (1,264,058 ) (1,214,450 ) Property and equipment, net 2,640,091 2,825,302 Construction in progress 5,902 946 Total property and equipment, net of accumulated depreciation $ 2,645,993 $ 2,826,248 Depreciation and amortization expense related to property and equipment was $42.2 million and $43.1 million for the three months ended September 30, 2015 and 2014, respectively. Depreciation and amortization expense related to property and equipment was $126.0 million and $124.1 million for the nine months ended September 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	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Long-Term Debt	NOTE 6. LONG-TERM DEBT Long-term debt as of September 30, 2015 and December 31, 2014 was as follows: September 30, 2015 December 31, 2014 (in thousands) Current: Term Facility (1) $ 17,514 $ 19,001 Long term: Term Facility (1) 1,720,988 1,866,698 Total debt $ 1,738,502 $ 1,885,699 (1) As of September 30, 2015 and December 31, 2014, the 30 day United States dollar London Interbank Offering Rate (“LIBOR”) was 0.20% and 0.16%, respectively. As of September 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 nine months ended September 30, 2015, we made voluntary principal prepayments totaling $135.0 million and quarterly scheduled principal payments totaling $13.3 million. · The interest rate for the Term Facility through July 31, 2015 was LIBOR with a floor of 1.0% plus a spread of 3.0%. As of July 31, 2015, we achieved a consolidated first lien net leverage ratio of less than 4.50 to 1:00, and as a result the rate decrease to LIBOR with a floor of 1.0% plus a spread of 2.75% for the period from August 1, 2015 to September 30, 2015. Included in the Term Facility as of September 30, 2015 and December 31, 2014 is an unamortized original issue discount of $8.5 million and $9.6 million, respectively. As of September 30, 2015 and December 31, 2014, we had $16.5 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 September 30, 2015, the net balance of these debt issuance costs included in our condensed consolidated balance sheet was $23.3 million. Interest Rate and Fees —Borrowings under the Term 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 Term Facility is 2.00%, in the case of base rate loans, and 3.00%, in the case of LIBOR rate loans, subject to one step-down of 0.25% upon the achievement of a consolidated first lien net leverage ratio (as defined in the Agreement) of less than or equal to 4.50 to 1.00, subject to a base rate floor of 2.00% and a LIBOR floor of 1.00%. As of July 31, 2015, we achieved a consolidated first lien net leverage ratio of less than 4.50 to 1.00, and, as a result we realized the step-down of 0.25% after that date. 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 —Beginning September 2014, the Borrower was required to repay installments on the Term Facility in quarterly installments equal to 0.25% of the original principal amount less any voluntary prepayments on the Term Facility, with the remaining amount payable on the applicable maturity date with respect to the Term Facility. 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 September 30, 2015, we were in compliance with all applicable covenants under the Senior Facilities. Letters of Credit As of September 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 nine months ended September 30, 2015 and 2014: For the three months ended September 30, For the nine months ended September 30, Description 2015 2014 2015 2014 (in thousands) Term Facility $ 19,678 $ 23,222 $ 62,120 $ 43,583 Mortgage Loan (1) — — — 23,754 Holdco III Mortgage Loan (2) — — — 3,206 Mezzanine Loan (3) Current — — — 3,107 Deferred — — — 18,601 Amortization of long-term debt reduction — — — (1,532 ) Amortization of original issue discount 352 — 1,047 — Amortization of deferred financing costs 955 1,274 2,846 6,571 Other interest 4 4 9 10 Interest income (19 ) (5 ) (90 ) (40 ) Total interest expense, net $ 20,970 $ 24,495 $ 65,932 $ 97,260 (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	9 Months Ended
	Sep. 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 nine months ended September 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 until July 2014 when they expired, 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: September 30, 2015 December 31, 2014 Balance Sheet Classification Fair Value Balance Sheet Classification Fair Value (in thousands) Cash Flow Hedges: Interest rate swap Other long- term liabilities $ (16,031 ) Other long- term liabilities $ (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 ended September 30, For the nine months ended September 30, (Loss) Recognized 2015 2014 2015 2014 (in thousands) Cash Flow Hedges: Interest rate swap (1) Other income (loss) $ (4,586 ) $ 3,118 $ (7,293 ) $ 582 (1) There were no amounts recognized in earnings related to hedge ineffectiveness or amounts excluded from hedge effectiveness testing during the three and nine months ended September 30, 2015.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 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: September 30, 2015 December 31, 2014 Carrying Amount Fair Value Carrying Amount Fair Value (in thousands) Cash and cash equivalents (1) $ 117,569 $ 117,569 $ 109,857 $ 109,857 Interest rate swaps (2) (16,031 ) (16,031 ) (4,811 ) (4,811 ) Long-term debt (3) 1,738,502 1,693,530 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 September 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 4.3% and 4.4%, as of September 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. During the third quarter of 2015, these assets met the criteria for classification as assets held for sale. 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 price, less selling costs. In the third quarter of 2015, we identified a restaurant parcel where it became more likely than not the restaurant would be sold significantly before the end of the previously estimated useful life. We recorded an impairment charge of $1.6 million to adjust the carrying value of this restaurant parcel to its estimated fair value. During the third quarter of 2015, this restaurant parcel met the criteria for classification as assets held for sale. The fair value estimate is considered to be Level 3 within the fair value measurement hierarchy. The inputs used in determining the fair value these assets are based on estimated selling price, less selling costs. The following fair value hierarchy table presents information about assets measured at fair value on a nonrecurring basis during the nine months ended September 30, 2015: September 30, 2015 Level 1 Level 2 Level 3 Total Fair Value Impairment Charge (in thousands) 24 Owned Hotels $ — $ — $ 69,428 $ 69,428 $ 42,685 1 Owned Restaurant Parcel — — 1,025 1,025 1,636 $ — $ — $ 70,453 $ 70,453 $ 44,321 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 nine months ended September 30, 2014. Subsequent to September 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	9 Months Ended
	Sep. 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 — Pursuant to hotel management agreements with affiliates of the Funds in existence prior to the IPO (“LQM Management Agreements”), LQM provided management services to the Previously Managed Hotels until the IPO, including supervision, direction, operation, management and promotion. The LQM Management Agreements would have expired in July 2027, but were terminable by either party at any time and for any reason, and were terminated in connection with the IPO. Under the terms of the LQM Management Agreements, LQM was entitled to recover a management fee of 1.67% of gross operating revenue from the Previously Managed Hotels, as well as reimbursement for certain shared group costs. 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) — We maintain the BMF on behalf of our franchisees and the hotel properties we own and manage, and we charge these hotels a fee of 2.5% of gross room revenue, which is then used by the BMF to fund national advertising promotions and campaigns. BMF fees collected from franchised and managed hotels, and the related expenses, are reflected as brand marketing fund revenues and expenses from franchise and managed hotels in the accompanying condensed consolidated statements of operations. Customer Loyalty Program — We administer a customer loyalty program, La Quinta Returns (“Returns”), and charge participating hotels a fee to administer the program equal to 5% of the Returns members’ eligible room rate per night. Returns fees collected from franchised and managed hotels are reflected within franchise and other fees-based revenues in the accompanying condensed consolidated statements of operations. We recorded revenues related to Returns from the Previously Managed Hotels of approximately $0.1 million and $0.3 million for the periods from April 1, 2014 to April 14, 2014 and from January 1, 2014 to April 14, 2014, respectively. Trademark Licenses — In accordance with our management agreements with the Previously Managed Hotels existing until their acquisition on April 14, 2014, we charged a royalty fee of 0.33% of the Previously Managed Hotels’ gross room revenues. For the periods from April 1, 2014 to April 14, 2014 and from January 1, 2014 to April 14, 2014, royalty fees charged to the Previously Managed Hotels under these agreements were approximately $0.1 million for each of the periods. These royalty fees are reflected within franchise and other fee-based revenues in the accompanying condensed consolidated statements of operations. Other Arrangements As of September 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 $0.6 million and $0.8 million during the three months ended September 30, 2015 and 2014, respectively. The fees paid for these products and services were approximately $2.1 million and $2.3 million during the nine month periods ended September 30, 2015 and 2014, respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 10. COMMITMENTS AND CONTINGENCIES Environmental — We are subject to certain requirements and potential liabilities under various federal, state and local environmental laws, ordinances, and regulations. Such requirements often impose liability without regard to whether the current or previous owner or operator knew of, or was responsible for, the presence of such hazardous or toxic substances. Although we have incurred and expect to incur remediation and other environmental costs during the ordinary course of operations, we anticipate that such costs will not have a material effect on our financial condition, results of operations, or cash flows. Litigation — We are party to a number of pending claims and lawsuits arising in the normal course of business. We maintain general and other liability insurance; however, certain costs of defending lawsuits, such as those below the insurance retention or deductible amount, are not covered by or are only partially covered by insurance policies, or the insurance carriers could refuse to cover certain claims in whole or in part. We regularly evaluate ultimate liability costs with respect to such claims and lawsuits. We accrue costs incurred from defending litigation as they become determinable. We do not consider our ultimate liability with respect to any single claim or lawsuit, or the aggregate of such claims and lawsuits, to be material in relation to our condensed consolidated balance sheets, results of operations, or cash flows taken as a whole. Casualty Losses — We maintain insurance for property and casualty damage, subject to deductibles and policy terms and conditions, attributable to wind, flood, and earthquakes. We also maintain business interruption insurance. Tax Contingencies — We are subject to regular audits by federal and state tax authorities. These audits may result in additional tax liabilities. The Internal Revenue Service (the “IRS”) is currently auditing the tax returns of La Quinta Corporation, one of our former REITs prior to the Pre-IPO Transactions, and BRE/LQ Operating Lessee Inc., one of our former taxable REIT subsidiaries prior to the Pre-IPO Transactions, in each case for the tax years ended December 31, 2010 and 2011. We received a draft notice of proposed adjustment from the IRS on January 9, 2014, and the notice of proposed adjustment was issued to us on June 2, 2014. We submitted a timely response to the notice of proposed adjustment and, on July 7, 2014, we received an IRS 30-Day Letter proposing to impose a 100% tax on the REIT totaling $158 million for the periods under audit in which the IRS has asserted that the rent charged for these periods under the lease of hotel properties from the REIT to the taxable REIT subsidiary exceeded an arm’s length rent. In addition, the IRS proposed to eliminate $89 million of net operating loss carryforwards for the taxable REIT subsidiary for the tax years 2006 through 2009; however, in an IRS rebuttal received on September 26, 2014, the IRS conceded its proposed adjustment on this point was incorrect. We disagree with the IRS’ position with respect to rents charged by the REIT to its taxable REIT subsidiary and have appealed the proposed tax and adjustments to the IRS Appeals Office. In determining amounts payable by our taxable REIT subsidiary under the lease, we engaged a third party to prepare a transfer pricing study contemporaneous with the lease which concluded that the lease terms were consistent with an arm’s length rent as required by relevant provisions of the Internal Revenue Code of 1986 (the “Internal Revenue Code”) and applicable Treasury Regulations. Attorneys and others representing the Company conducted preliminary discussions regarding the appeal with the IRS Appeals Office team on March 31, 2015 and April 1, 2015. In response to a supplemental analysis submitted by the IRS economist to the Appeals Officer and provided to us on August 18, 2015, we submitted responses dated September 3, 2015 and October 1, 2015. No additional response or requests from the Appeals Officer have been received. We believe the IRS transfer pricing methodologies applied in the audits contain flaws and that the IRS proposed tax and adjustments are inconsistent with the U.S. federal tax laws related to REITs. We have concluded that the positions reported on our tax returns under audit by the IRS are, based on their technical merits, more-likely-than-not to be sustained upon examination. Accordingly, as of September 30, 2015, we have not established any reserves related to this proposed adjustment or any other issues reflected on the returns under examination. 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 September 30, 2015, we have not been advised of any proposed adjustments. Purchase Commitments — As of September 30, 2015, we had approximately $20.8 million of purchase commitments primarily related to certain continuing redevelopment and renovation projects and information technology enhancements. Franchise Commitments — Under certain franchise agreements, we are committed to provide certain incentive payments, reimbursements, rebates, and other payments to help defray certain costs. Our obligation to fund these commitments is contingent upon certain conditions set forth in the respective franchise agreement. The franchise agreements generally require that, in the event that the franchise relationship is terminated, the franchisee is required to repay any outstanding balance plus any unamortized portion of any incentive payment. As of September 30, 2015, we had $8.1 million in outstanding commitments owed to various franchisees for such financial assistance.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 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 of approximately $15.4 million and $17.4 million for the three and nine months ended September 30, 2015, respectively. The Company recorded a provision for federal, state and foreign income tax expense of approximately $16.1 million and $21.9 million during the three and nine month periods ended September 30, 2014, respectively. The provisions for the three and nine month periods ended September 30, 2015 and 2014 reflect certain equity compensation charges that are not deductible for income tax purposes.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 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 during both the three month periods ended September 30, 2015 and 2014. We paid employer contributions of approximately $1.8 million and $1.5 million, during the nine month periods ended September 30, 2015 and 2014, respectively.

Equity-Based Compensation

Equity-Based Compensation	9 Months Ended
	Sep. 30, 2015
Disclosure Of Compensation Related Costs Sharebased 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 $5.6 million during the nine months ended September 30, 2015. During the three and nine months ended September 30, 2014, total compensation expense under the Promote Plan was $5.4 million and $31.7 million, respectively. As of September 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 — Effective on the IPO Effective Date, we issued 0.35 million shares of Holdings common stock under our 2014 Omnibus Incentive Plan with a grant date fair value of $16.65 per share to certain of our employees as follows: (1) 50% of the shares granted were vested shares of common stock; (2) 40% of the shares granted 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) 10% of the shares granted 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 through that date. Blackstone and its affiliates ceased to own 50% of Holdings’ common stock, effective November 25, 2014. The 2014 Grant I became fully vested on April 14, 2015. 2014 Grant II — On June 11, 2014, we issued 1.01 million shares of Holdings common stock under our 2014 Omnibus Incentive Plan with a grant date fair value of $18.70 per share to certain of our employees. 2014 Grant II is a time-based vesting award with multiple tranches that vest on various dates with a remaining weighted average life of 1.1 years as of September 30, 2015. The fair value of 2014 Grant II will be recognized on a straight-line basis over the requisite service period of each tranche included in the award. Director Unit Grants — On June 11, 2014, November 25, 2014, January 20, 2015, June 11, 2015, and July 24, 2015 we granted a total of 40,965 restricted stock units (“RSUs”) to our independent directors under our 2014 Omnibus Incentive Plan, as part of our regular annual compensation of our independent directors. The Director Unit Grants vests in three equal installments on the first, second and third anniversaries of the grant dates. The grant date fair value was $18.70 per RSU for the June 11, 2014 grant, $21.48 for the November 25, 2014 grant, $20.57 for the January 20, 2015 grant, $24.30 for the June 11, 2015 grant and $22.09 for the July 24, 2015 grant. The fair value of the RSUs will be recognized on a straight-line basis over the requisite service period for the entire award. Vested RSUs will be settled with shares of our common stock. 2014 Performance Unit Grant — On June 11, 2014, we issued 109 performance-based RSUs (the “PSUs”), which represent 0.5 million shares at target value of common stock to certain of our employees. The performance period for the 2014 Performance Unit Grant ends December 31, 2016, with a remaining life of 1.3 years as of September 30, 2015. 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”). The number of common shares issued in exchange for each PSU at the end of the performance period is determined based on a calculated multiple of defined target amounts for TSR CAGR and Relative Shareholder Return. Possible payout multiples range from 33% of target, which represents the threshold and below which no payout is given, and 167% of target, which represents the maximum payout. The 2014 Performance Unit Grant PSUs will be settled with shares of our common stock. 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 — In January 2015, February 2015 and May 2015, we issued a total of 0.2 million shares of Holdings common stock under our 2014 Omnibus Incentive Plan with a grant date weighted average price of $21.86 per share to certain of our employees. 2015 Grant I is a time-based vesting award with multiple tranches that vest on various dates with a remaining weighted average life of 1.3 years as of September 30, 2015. The fair value of 2015 Grant I will be recognized on a straight-line basis over the requisite service period of each tranche included in the award. 2015 Performance Unit Grant — On February 19, 2015, we issued PSUs, which represents 0.3 million shares of common stock at target value to certain of our employees. The performance period for the 2015 Performance Unit Grant ends December 31, 2017, with a remaining life of 2.3 years as of September 30, 2015. 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. The number of common shares issued in exchange for each PSU at the end of the performance period is determined based on defined target amounts for Relative Shareholder Return. Possible payout multiples range from 33% of target, which represents the threshold and below which no payout is given, and 200% of target, which represents the maximum payout. The 2015 Performance Unit Grant PSUs will be settled with shares of our common stock. 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 nine months ended September 30, 2015, total compensation expense for awards under the 2014 Omnibus Incentive Plan was $6.2 million and $13.6 million, respectively, excluding related taxes. During the three and nine months ended September 30, 2014, total compensation expense for awards under the 2014 Omnibus Incentive Plan was $3.2 million and $7.9 million, respectively, excluding related taxes. Unrecognized compensation expense as of September 30, 2015 was $17.7 million. As of September 30, 2015, 35,773 shares have been forfeited from awards made under the 2014 Omnibus Incentive Plan. As of September 30, 2015, there were approximately 11.8 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. During September 2015, pursuant to a Separation and Release Agreement (the “Separation and Release Agreement”), dated effective as of September 15, 2015, that the Company entered into with its former President and Chief Executive Officer in connection with his departure, the Company accelerated the vesting of 0.3 million shares issued to him under the 2014 Omnibus Incentive Plan and incurred a corresponding non-cash severance charge of $3.0 million. In addition, pursuant to the benefits to which the Company’s former President and Chief Executive Officer was entitled under the Separation and Release Agreement, the Company accrued a cash severance related charge of $7.6 million that was paid subsequent to period end.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 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 ended September 30, For the nine months ended September 30, 2015 2014 2015 2014 (in thousands, except per share data) Numerator: Income (loss) from continuing operations, attributable to La Quinta Holdings’ stockholders $ 17,058 $ 12,817 $ 18,537 $ (332,601 ) Loss from discontinued operations, attributable to La Quinta Holdings’ stockholders — — — (503 ) Net income (loss) attributable to La Quinta Holdings’ stockholders $ 17,058 $ 12,817 $ 18,537 $ (333,104 ) Denominator: Weighted average number of shares outstanding, basic 129,858 127,734 129,264 125,542 Weighted average number of shares outstanding, diluted 130,914 128,494 130,543 125,542 Income (loss) from continuing operations attributable to La Quinta Holdings’ stockholders per common share, basic and diluted $ 0.13 $ 0.10 $ 0.14 $ (2.65 ) Loss from discontinued operations attributable to La Quinta Holdings’ stockholders per common share, basic and diluted — — — — Basic and diluted earnings (loss) per share $ 0.13 $ 0.10 $ 0.14 $ (2.65 ) For the three and nine month period ended September 30, 2015, immaterial amount of shares were anti-dilutive. Approximately 0.3 million shares and 1.2 million shares for the three months and nine months ended September 30, 2014, respectively, were excluded from the computation of diluted shares, as their impact would have been anti-dilutive. During September 2015, Company's board of directors authorized a program to repurchase an aggregate of up to $100 million of the Company’s common stock (the “Repurchase Program”). These repurchases may be made from time to time in the open market, in privately negotiated transactions, or otherwise, including pursuant to a Rule 10b5-1 plan, at prices that the Company deems appropriate and subject to market conditions, applicable law and other factors deemed relevant in the Company's sole discretion. The Repurchase Program does not obligate the Company to repurchase any dollar amount or number of shares of common stock and the program may be suspended or discontinued at any time. Through September 30, 2015, the Company repurchased 999,452 shares of common stock. These shares were repurchased at a weighted-average price of $16.03 per share, for an aggregate purchase price of $16.0 million. Of the $16.0 million aggregate purchase price through September 30, 2015, $10.0 million was settled in cash during the period, with the remainder settled in ordinary course subsequent to September 30, 2015. The shares repurchased through September 30, 2015 represented approximately 1% of the Company's total shares of common stock outstanding as of December 31, 2014. The shares of common stock that were repurchased were placed in treasury stock. As of September 30, 2015, $84 million remained under this share repurchase authorization.

Segments

Segments	9 Months Ended
	Sep. 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 —This segment derives its earnings from the operation of owned hotel properties located in the United States. · Franchise and management —This segment derives its earnings primarily from revenues earned under various franchise and management agreements relating to our owned, franchised, and managed hotels, which provide for us to earn compensation for the licensing of our brand to franchisees, as well as for services rendered, such as hotel management and providing access to certain shared services and marketing programs such as reservations, Returns, and property management systems. 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 nine months ended September 30, 2015 and 2014: For the three months ended September 30, For the nine months ended September 30, 2015 2014 2015 2014 (in thousands) Revenues Owned hotels $ 245,558 $ 241,266 $ 711,451 $ 667,564 Franchise and management (1) 31,460 29,054 87,357 68,977 Segment revenues 277,018 270,320 798,808 736,541 Other fee-based revenues from franchise and managed properties 6,668 6,158 17,960 16,511 Corporate and other (2) 34,757 34,026 97,862 88,054 Intersegment elimination (3) (39,340 ) (39,386 ) (113,533 ) (92,390 ) Total revenues $ 279,103 $ 271,118 $ 801,097 $ 748,716 For the three months ended September 30, For the nine months ended September 30, 2015 2014 2015 2014 (in thousands) Adjusted EBITDA Owned hotels $ 87,098 $ 87,951 $ 253,922 $ 249,226 Franchise and management 31,460 29,054 87,357 68,977 Segment Adjusted EBITDA 118,558 117,005 341,279 318,203 Corporate and other (4,327 ) (7,708 ) (25,208 ) (27,944 ) Adjusted EBITDA $ 114,231 $ 109,297 $ 316,071 $ 290,259 (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 $20.1 million for the three month periods ended September 30, 2015 and 2014, respectively, and $58.3 million and $51.0 million for the nine month periods ended September 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 $39.3 million and $39.4 million for the three month periods ended September 30, 2015 and 2014, respectively and $113.5 million and $92.4 million for each of the nine month periods ended September 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 nine months ended September 30, 2015 and 2014: For the three months ended September 30, For the nine months ended September 30, 2015 2014 2015 2014 (in thousands) Adjusted EBITDA $ 114,231 $ 109,297 $ 316,071 $ 290,259 Income (loss) from discontinued operations — — — (377 ) Impairment loss (1,823 ) — (44,321 ) (5,308 ) Loss on sale (85 ) — (4,088 ) — Loss on retirement of assets — — (161 ) — Gain (loss) related to casualty disasters (393 ) 108 (1,064 ) 1,106 Gain (loss) on extinguishment of debt, net — — — (2,030 ) Equity based compensation (3,320 ) (8,600 ) (16,464 ) (39,703 ) Severance charges (1) (11,021 ) — (11,021 ) — Other gains (losses), net (2) 873 (1,924 ) (3,400 ) (2,312 ) EBITDA 98,462 98,881 235,552 241,635 Interest expense (20,988 ) (24,500 ) (66,021 ) (97,300 ) Income tax provision (15,406 ) (16,162 ) (17,366 ) (21,860 ) Recognition of net deferred tax liabilities upon C-corporation conversion — — — (321,054 ) Depreciation and amortization (44,985 ) (45,352 ) (133,335 ) (130,711 ) Noncontrolling interests (25 ) (50 ) (293 ) (3,814 ) Net income (loss) attributable to La Quinta Holdings’ stockholders $ 17,058 $ 12,817 $ 18,537 $ (333,104 ) (1) Includes cash and non-cash charges relating to the departure of the Company’s former President and Chief Executive Officer. (2) 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 September 30, 2015 and December 31, 2014: September 30, 2015 December 31, 2014 (in thousands) Total Assets Owned hotels $ 2,755,240 $ 2,928,180 Franchise and management 194,965 191,410 Total segments assets 2,950,205 3,119,590 Corporate and other 184,719 146,117 Total $ 3,134,924 $ 3,265,707 The following table presents capital expenditures for our reportable segments, reconciled to our consolidated amounts for the nine month periods ended September 30, 2015 and 2014: For the nine months ended September 30, 2015 2014 Capital Expenditures Owned hotels $ 59,480 $ 52,019 Franchise and management — — Total segment capital expenditures 59,480 52,019 Corporate and other 14,903 13,813 Total $ 74,383 $ 65,832 ************

Significant Accounting Polici23

Significant Accounting Policies and Recently Issued Accounting Standards (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Revenue Recognition	Revenue Recognition — Revenues primarily consist of room rentals, franchise fees and other hotel revenues. We defer a portion of our revenue from franchisees at the time the franchise agreement is signed and recognize the remainder upon hotel opening. 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 September 30, 2014 and approximately $0.7 million for the nine months ended September 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.
Assets held for sale	Assets held for sale— Long-lived assets are classified as held for sale when all of the following criteria are met: • Management, having the authority to approve the action, commits to a plan to sell the asset and does not expect significant changes to the plan or that the plan will be withdrawn • The asset is available for immediate sale in its present condition • The asset is being actively marketed • The sale of the asset is probable within one year When we identify a long-lived asset as held for sale, depreciation of the asset is discontinued and the carrying value is reduced, if necessary, to the estimated sales price less costs to sell by recording a charge to current earnings. All assets held for sale are monitored through the date of sale for potential adjustments based on offers we are willing to take under serious consideration and continued review of facts and circumstances. Losses on sales are recorded to the extent that the amounts ultimately received for the sale of assets differ from the adjusted book values of the assets. Gains on sales are recognized at the time the assets are sold, provided there is reasonable assurance the sales price will be collected and any future activities to be performed by the Company relating to the assets sold are expected to be insignificant.
Derivative Instruments	Derivative Instruments — We use derivative instruments as part of our overall strategy to manage our exposure to market risks associated with fluctuations in interest rates. We regularly monitor the financial stability and credit standing of the counterparties to our derivative instruments. We do not enter into derivative financial instruments for trading or speculative purposes. 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 — We recognize the cost of services received in an equity based payment transaction with an employee as services are received and record either a corresponding increase in equity or a liability, depending on whether the instruments granted satisfy the equity or liability classification criteria. 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 — The accompanying condensed consolidated financial statements include taxable entities, limited liability companies, and, through April 14, 2014, REIT entities. Limited liability companies and REITs generally are not subject to federal income taxes at the entity level. For our taxable subsidiaries, we account for income taxes using the asset and liability approach for financial accounting and reporting purposes. For financial reporting purposes, income tax expense or benefit is based on reported financial accounting income or loss before non-controlling interests and income taxes related to our taxable subsidiaries. Deferred tax assets and liabilities reflect the temporary differences between assets and liabilities recognized for financial reporting and the analogous amounts recognized for tax purposes using the statutory tax rates expected to be in effect for the year in which the differences are expected to reverse, within the taxable subsidiaries. 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, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” 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)	9 Months Ended
	Sep. 30, 2015
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Summary of Hotels Owned, Franchised, and Number of Associated Rooms	As of September 30, 2015 and 2014, total owned and franchised hotels, and the approximate number of associated rooms were as follows: September 30, 2015 September 30, 2014 # of hotels # of rooms # of hotels # of rooms Owned (1) 351 44,600 352 44,800 Joint Venture 1 200 1 200 Franchised 532 42,800 501 40,500 Totals 884 87,600 854 85,500 (1)

Assets Held for Sale and Disc25

Assets Held for Sale and Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2015
Discontinued Operations And Disposal Groups [Abstract]
Major Classes of Assets as Held for Sale	As of September 30, 2015, the carrying amounts of the major classes of assets for assets held for sale were as follows: As of September 30, 2015 (in thousands) Current assets $ 403 Property and equipment, net 69,485 Other non-current assets 565 Total assets held for sale $ 70,453
Summary of Results from Discontinued Operations	The following table summarizes the operating results of the discontinued operations: For the nine months ended September 30, 2014 (in thousands) Hotel revenues $ 361 Direct lodging expenses 651 Other lodging and operating expenses 62 Operating income (loss) (352 ) Impairment loss (151 ) Loss on discontinued operations $ (503 )

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 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 September 30, For the nine months ended September 30, 2014 2014 (in thousands) Total revenues $ 271,118 $ 760,636 Net income (loss) attributable to La Quinta Holdings’ stockholders 12,836 (329,525 ) Basic and diluted earnings per share 0.10 (2.62 )

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2015
Property Plant And Equipment [Abstract]
Summary of Property and Equipment	The following is a summary of property and equipment as of September 30, 2015 and December 31, 2014: September 30, 2015 December 31, 2014 (in thousands) Land $ 794,051 $ 836,514 Buildings and improvements 2,700,415 2,799,967 Furniture, fixtures, equipment and other 409,683 403,271 Total property and equipment 3,904,149 4,039,752 Less accumulated depreciation (1,264,058 ) (1,214,450 ) Property and equipment, net 2,640,091 2,825,302 Construction in progress 5,902 946 Total property and equipment, net of accumulated depreciation $ 2,645,993 $ 2,826,248

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt as of September 30, 2015 and December 31, 2014 was as follows: September 30, 2015 December 31, 2014 (in thousands) Current: Term Facility (1) $ 17,514 $ 19,001 Long term: Term Facility (1) 1,720,988 1,866,698 Total debt $ 1,738,502 $ 1,885,699 (1) As of September 30, 2015 and December 31, 2014, the 30 day United States dollar London Interbank Offering Rate (“LIBOR”) was 0.20% and 0.16%, respectively. As of September 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 nine months ended September 30, 2015, we made voluntary principal prepayments totaling $135.0 million and quarterly scheduled principal payments totaling $13.3 million. · The interest rate for the Term Facility through July 31, 2015 was LIBOR with a floor of 1.0% plus a spread of 3.0%. As of July 31, 2015, we achieved a consolidated first lien net leverage ratio of less than 4.50 to 1:00, and as a result the rate decrease to LIBOR with a floor of 1.0% plus a spread of 2.75% for the period from August 1, 2015 to September 30, 2015. Included in the Term Facility as of September 30, 2015 and December 31, 2014 is an unamortized original issue discount of $8.5 million and $9.6 million, respectively. As of September 30, 2015 and December 31, 2014, we had $16.5 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 nine months ended September 30, 2015 and 2014: For the three months ended September 30, For the nine months ended September 30, Description 2015 2014 2015 2014 (in thousands) Term Facility $ 19,678 $ 23,222 $ 62,120 $ 43,583 Mortgage Loan (1) — — — 23,754 Holdco III Mortgage Loan (2) — — — 3,206 Mezzanine Loan (3) Current — — — 3,107 Deferred — — — 18,601 Amortization of long-term debt reduction — — — (1,532 ) Amortization of original issue discount 352 — 1,047 — Amortization of deferred financing costs 955 1,274 2,846 6,571 Other interest 4 4 9 10 Interest income (19 ) (5 ) (90 ) (40 ) Total interest expense, net $ 20,970 $ 24,495 $ 65,932 $ 97,260 (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)	9 Months Ended
	Sep. 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: September 30, 2015 December 31, 2014 Balance Sheet Classification Fair Value Balance Sheet Classification Fair Value (in thousands) Cash Flow Hedges: Interest rate swap Other long- term liabilities $ (16,031 ) Other long- term liabilities $ (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 ended September 30, For the nine months ended September 30, (Loss) Recognized 2015 2014 2015 2014 (in thousands) Cash Flow Hedges: Interest rate swap (1) Other income (loss) $ (4,586 ) $ 3,118 $ (7,293 ) $ 582 (1) There were no amounts recognized in earnings related to hedge ineffectiveness or amounts excluded from hedge effectiveness testing during the three and nine months ended September 30, 2015.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 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: September 30, 2015 December 31, 2014 Carrying Amount Fair Value Carrying Amount Fair Value (in thousands) Cash and cash equivalents (1) $ 117,569 $ 117,569 $ 109,857 $ 109,857 Interest rate swaps (2) (16,031 ) (16,031 ) (4,811 ) (4,811 ) Long-term debt (3) 1,738,502 1,693,530 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 nine months ended September 30, 2015: September 30, 2015 Level 1 Level 2 Level 3 Total Fair Value Impairment Charge (in thousands) 24 Owned Hotels $ — $ — $ 69,428 $ 69,428 $ 42,685 1 Owned Restaurant Parcel — — 1,025 1,025 1,636 $ — $ — $ 70,453 $ 70,453 $ 44,321 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)	9 Months Ended
	Sep. 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)	9 Months Ended
	Sep. 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 ended September 30, For the nine months ended September 30, 2015 2014 2015 2014 (in thousands, except per share data) Numerator: Income (loss) from continuing operations, attributable to La Quinta Holdings’ stockholders $ 17,058 $ 12,817 $ 18,537 $ (332,601 ) Loss from discontinued operations, attributable to La Quinta Holdings’ stockholders — — — (503 ) Net income (loss) attributable to La Quinta Holdings’ stockholders $ 17,058 $ 12,817 $ 18,537 $ (333,104 ) Denominator: Weighted average number of shares outstanding, basic 129,858 127,734 129,264 125,542 Weighted average number of shares outstanding, diluted 130,914 128,494 130,543 125,542 Income (loss) from continuing operations attributable to La Quinta Holdings’ stockholders per common share, basic and diluted $ 0.13 $ 0.10 $ 0.14 $ (2.65 ) Loss from discontinued operations attributable to La Quinta Holdings’ stockholders per common share, basic and diluted — — — — Basic and diluted earnings (loss) per share $ 0.13 $ 0.10 $ 0.14 $ (2.65 )

Segments (Tables)

Segments (Tables)	9 Months Ended
	Sep. 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 nine months ended September 30, 2015 and 2014: For the three months ended September 30, For the nine months ended September 30, 2015 2014 2015 2014 (in thousands) Revenues Owned hotels $ 245,558 $ 241,266 $ 711,451 $ 667,564 Franchise and management (1) 31,460 29,054 87,357 68,977 Segment revenues 277,018 270,320 798,808 736,541 Other fee-based revenues from franchise and managed properties 6,668 6,158 17,960 16,511 Corporate and other (2) 34,757 34,026 97,862 88,054 Intersegment elimination (3) (39,340 ) (39,386 ) (113,533 ) (92,390 ) Total revenues $ 279,103 $ 271,118 $ 801,097 $ 748,716 For the three months ended September 30, For the nine months ended September 30, 2015 2014 2015 2014 (in thousands) Adjusted EBITDA Owned hotels $ 87,098 $ 87,951 $ 253,922 $ 249,226 Franchise and management 31,460 29,054 87,357 68,977 Segment Adjusted EBITDA 118,558 117,005 341,279 318,203 Corporate and other (4,327 ) (7,708 ) (25,208 ) (27,944 ) Adjusted EBITDA $ 114,231 $ 109,297 $ 316,071 $ 290,259 (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 $20.1 million for the three month periods ended September 30, 2015 and 2014, respectively, and $58.3 million and $51.0 million for the nine month periods ended September 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 $39.3 million and $39.4 million for the three month periods ended September 30, 2015 and 2014, respectively and $113.5 million and $92.4 million for each of the nine month periods ended September 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 nine months ended September 30, 2015 and 2014: For the three months ended September 30, For the nine months ended September 30, 2015 2014 2015 2014 (in thousands) Adjusted EBITDA $ 114,231 $ 109,297 $ 316,071 $ 290,259 Income (loss) from discontinued operations — — — (377 ) Impairment loss (1,823 ) — (44,321 ) (5,308 ) Loss on sale (85 ) — (4,088 ) — Loss on retirement of assets — — (161 ) — Gain (loss) related to casualty disasters (393 ) 108 (1,064 ) 1,106 Gain (loss) on extinguishment of debt, net — — — (2,030 ) Equity based compensation (3,320 ) (8,600 ) (16,464 ) (39,703 ) Severance charges (1) (11,021 ) — (11,021 ) — Other gains (losses), net (2) 873 (1,924 ) (3,400 ) (2,312 ) EBITDA 98,462 98,881 235,552 241,635 Interest expense (20,988 ) (24,500 ) (66,021 ) (97,300 ) Income tax provision (15,406 ) (16,162 ) (17,366 ) (21,860 ) Recognition of net deferred tax liabilities upon C-corporation conversion — — — (321,054 ) Depreciation and amortization (44,985 ) (45,352 ) (133,335 ) (130,711 ) Noncontrolling interests (25 ) (50 ) (293 ) (3,814 ) Net income (loss) attributable to La Quinta Holdings’ stockholders $ 17,058 $ 12,817 $ 18,537 $ (333,104 ) (1) Includes cash and non-cash charges relating to the departure of the Company’s former President and Chief Executive Officer. (2) 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 September 30, 2015 and December 31, 2014: September 30, 2015 December 31, 2014 (in thousands) Total Assets Owned hotels $ 2,755,240 $ 2,928,180 Franchise and management 194,965 191,410 Total segments assets 2,950,205 3,119,590 Corporate and other 184,719 146,117 Total $ 3,134,924 $ 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 nine month periods ended September 30, 2015 and 2014: For the nine months ended September 30, 2015 2014 Capital Expenditures Owned hotels $ 59,480 $ 52,019 Franchise and management — — Total segment capital expenditures 59,480 52,019 Corporate and other 14,903 13,813 Total $ 74,383 $ 65,832

Organization and Basis of Pre34

Organization and Basis of Presentation - Additional Information (Detail) $ in Millions	Apr. 14, 2014USD ($)Hotelshares	Apr. 30, 2015shares	Nov. 30, 2014shares	Sep. 30, 2015shares	Dec. 31, 2014shares
Organization and Basis of Presentation [Lineitems]
Number of hotels acquired | Hotel	14
Aggregate of common stock of Holdings				130,983,804	130,778,365
Business acquisition ownership interest percentage	100.00%
Business acquisition cash paid | $	$ 0.8
Blackstone [Member]
Organization and Basis of Presentation [Lineitems]
Percentage of common shares outstanding				27.10%
Parent Company [Member]
Organization and Basis of Presentation [Lineitems]
Aggregate of common stock of Holdings				81,060,000
IPO [Member]
Organization and Basis of Presentation [Lineitems]
Initial public offering, issued and sold	44,000,000
Secondary Offering [Member] | Blackstone [Member]
Organization and Basis of Presentation [Lineitems]
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)	Sep. 30, 2015HotelRoom	Sep. 30, 2014HotelRoom
Real Estate Properties [Line Items]
Number of hotels | Hotel	884	854
Number of rooms	87,600	85,500
Owned [Member]
Real Estate Properties [Line Items]
Number of hotels | Hotel	351	352
Number of rooms	44,600	44,800
Joint Venture [Member]
Real Estate Properties [Line Items]
Number of hotels | Hotel	1	1
Number of rooms	200	200
Franchise [Member]
Real Estate Properties [Line Items]
Number of hotels | Hotel	532	501
Number of rooms	42,800	40,500

Organization and Basis of Pre36

Organization and Basis of Presentation - Summary of Hotels Owned, Franchised, and Number of Associated Rooms (Parenthetical) (Detail) $ in Thousands	Feb. 06, 2014Hotel	Sep. 30, 2015USD ($)Hotel	Jun. 30, 2015USD ($)Hotel	Jun. 30, 2013Hotel	Dec. 31, 2013Hotel	Sep. 30, 2015USD ($)Hotel	Sep. 30, 2014USD ($)
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of hotels sold | Hotel	4		1		40
Proceeds from sale of hotel			$ 3,000			$ 3,792	$ 7,053
Loss on sale of hotel		$ (85)	$ (4,000)			$ (4,088)
Number of hotels held for sale | Hotel		24		44		24

Significant Accounting Polici37

Significant Accounting Policies and Recently Issued Accounting Standards - Additional Information (Detail) - USD ($)	Apr. 14, 2014	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2015	Sep. 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		$ 321,100,000		$ 321,054,000
Pre Opening Inspections [Member]
Summary Of Significant Accounting Policies [Line Items]
Initial franchise fees				$ 2,500
Pre Opening Training Marketing [Member]
Summary Of Significant Accounting Policies [Line Items]
Initial franchise fees				$ 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%
Royalty fee rebate percentage				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%
Royalty fee rebate percentage				0.50%
Franchise Agreements on or after April 1, 2013 [Member] | Non US [Member]
Summary Of Significant Accounting Policies [Line Items]
Royalty fee from new franchisees outside of the US				4.50%

Assets Held for Sale and Disc38

Assets Held for Sale and Discontinued Operations - Additional Information (Detail)	Feb. 06, 2014Hotel	Sep. 30, 2015HotelRestaurant	Jun. 30, 2015Hotel	Jun. 30, 2013Hotel	Dec. 31, 2013Hotel	Sep. 30, 2015Hotel
Asset Retirement Obligation Disclosure [Abstract]
Number of hotels held for sale		24		44		24
Number of restaurants parcel held for sale | Restaurant		1
Number of hotels sold	4		1		40

Assets Held for Sale and Disc39

Assets Held for Sale and Discontinued Operations - Major Classes of Assets as Held for Sale (Detail) $ in Thousands	Sep. 30, 2015USD ($)
Asset Retirement Obligation Disclosure [Abstract]
Current assets	$ 403
Property and equipment, net	69,485
Other non-current assets	565
Total assets held for sale	$ 70,453

Assets Held for Sale and Disc40

Assets Held for Sale and Discontinued Operations - Summary of Results from Discontinued Operations (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2014USD ($)
Asset Retirement Obligation Disclosure [Abstract]
Hotel revenues	$ 361
Direct lodging expenses	651
Other lodging and operating expenses	62
Operating income (loss)	(352)
Impairment loss	(151)
Loss on discontinued operations	$ (503)

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) $ in Millions	Apr. 14, 2014USD ($)
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) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014
Acquisition Pro Forma Results [Abstract]
Total revenues	$ 271,118	$ 760,636
Net income (loss) attributable to La Quinta Holdings’ stockholders	$ 12,836	$ (329,525)
Basic and diluted earnings per share	$ 0.10	$ (2.62)

Property and Equipment - Summar

Property and Equipment - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 3,904,149	$ 4,039,752
Less accumulated depreciation	(1,264,058)	(1,214,450)
Property and equipment, net	2,640,091	2,825,302
Construction in progress	5,902	946
Total property and equipment, net of accumulated depreciation	2,645,993	2,826,248
Land [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	794,051	836,514
Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	2,700,415	2,799,967
Furniture, Fixtures, Equipment and Other [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 409,683	$ 403,271

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Property Plant And Equipment [Abstract]
Depreciation and amortization expense	$ 42.2	$ 43.1	$ 126	$ 124.1

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Long-term debt, current	$ 17,514	$ 19,001
Term Facility, non-current	1,720,988	1,866,698
Total debt	1,738,502	1,885,699
Senior Secured Term Loan Facility [Member]
Debt Instrument [Line Items]
Long-term debt, current	17,514	19,001
Term Facility, non-current	$ 1,720,988	$ 1,866,698

Long-Term Debt - Schedule of 46

Long-Term Debt - Schedule of Long-Term Debt (Parenthetical) (Detail) $ in Millions	Jul. 31, 2015	Sep. 30, 2015USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Term Facility [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate	1.00%	1.00%
Principal pre-payment on Term Facility				$ 135
Quarterly principal payments			$ 13.3
Debt instrument, basis spread on variable rate	3.00%	2.75%
First lien net leverage ratio		4.50	4.50	4.50
First lien net leverage ratio, description				First lien net leverage ratio of less than 4.50 to 1:00
Unamortized long-term debt reduction		$ 8.5	$ 8.5	$ 8.5	$ 9.6
Accrued interest				$ 16.5	$ 18.6
LIBOR [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate				0.20%	0.16%

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail)	Mar. 02, 2015	Sep. 30, 2014	Jun. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2014USD ($)	Jul. 31, 2015
Debt Instrument [Line Items]
Debt issuance cost				$ 28,700,000
Debt issuance cost net				$ 23,300,000
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%
First lien net leverage ratio, description				First lien net leverage ratio of less than or equal to 4.50 to 1.00
Adjusted LIBOR rate			1.00%
Step-down rate			0.25%			0.25%
First lien net leverage ratio			4.50			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 of less than 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%
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
Adjusted LIBOR rate			1.00%
Step-down rate			0.25%
Step-down margin	2.38%
Proceeds from letters of credit				$ 10,600,000	$ 10,600,000
Percentage of fee on letter of credit				2.63%
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, description				First lien net leverage ratio of less than 5.00 to 1.00
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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Interest Expense [Line Items]
Mortgage Loan				$ 23,754
Deferred				18,601
Amortization of long-term debt reduction				(1,532)
Amortization of original issue discount	$ 352		$ 1,047
Amortization of deferred financing costs	955	$ 1,274	2,846	6,571
Other interest	4	4	9	10
Interest income	(19)	(5)	(90)	(40)
Total interest expense, net	20,970	24,495	65,932	97,260
Term Facility [Member]
Interest Expense [Line Items]
Mortgage Loan	$ 19,678	$ 23,222	$ 62,120	43,583
Holdco III Mortgage Loan [Member]
Interest Expense [Line Items]
Mortgage Loan				3,206
Mezzanine Loans [Member]
Interest Expense [Line Items]
Current				3,107
Deferred				$ 18,601

Long-Term Debt - Schedule of 49

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

Derivative Instruments and He50

Derivative Instruments and Hedging Activities - Additional Information (Detail) - Term Facility Interest Rate Swap [Member]	Apr. 14, 2014USD ($)
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 He51

Derivative Instruments and Hedging Activities - Effects of Fair Value of Derivative Instruments in Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Sep. 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	$ (16,031)	$ (4,811)

Derivative Instruments and He52

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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Classification of Gain (Loss) Recognized	$ (4,586)	$ 3,118	$ (7,293)	$ 582
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	$ (4,586)	$ 3,118	$ (7,293)	$ 582

Derivative Instruments and He53

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) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015
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	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Fair Value Disclosures [Abstract]
Cash and cash equivalents, carrying amount	$ 117,569	$ 109,857	$ 108,488	$ 33,412
Interest rate swaps, carrying amount	(16,031)	(4,811)
Long-term debt, carrying amount	1,738,502	1,885,699
Cash and cash equivalents, fair value	117,569	109,857
Interest rate swaps, fair value	(16,031)	(4,811)
Long-term debt, fair value	$ 1,693,530	$ 1,846,181

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015USD ($)Hotel	Jun. 30, 2015USD ($)Hotel	Sep. 30, 2015USD ($)Hotel	Sep. 30, 2014USD ($)	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of hotels not considered for sale | Hotel	24	24	24
Impairment charges	$ 1,823	$ 42,500	$ 44,321	$ 5,157
1 Owned Restaurant Parcel [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Impairment charges	$ 1,600		$ 1,636
Long-term Debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Discount rate			4.30%		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		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets held for use	$ 70,453		$ 70,453
Impairment charge on assets held for use	1,823	$ 42,500	44,321	$ 5,157
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets held for use	70,453		70,453
24 Owned Hotels [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets held for use	69,428		69,428
Impairment charge on assets held for use			42,685
24 Owned Hotels [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets held for use	69,428		69,428
1 Owned Restaurant Parcel [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets held for use	1,025		1,025
Impairment charge on assets held for use	1,600		1,636
1 Owned Restaurant Parcel [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets held for use	$ 1,025		$ 1,025
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
1 La Quinta Inns [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets held for use					$ 249

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Millions	Apr. 14, 2014	Apr. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Apr. 14, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Previously Managed Hotels [Member]
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			$ 0.6	$ 0.8		$ 2.1	$ 2.3
Affiliates of Black Stone [Member] | Senior Secured Term Loan Facility [Member]
Related Party Transaction [Line Items]
Senior secured credit facility			$ 31.2			$ 31.2		$ 43.9
Blackstone [Member]
Related Party Transaction [Line Items]
Fee paid to provide financial consulting services		$ 0.4

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Jul. 07, 2014	Sep. 30, 2015
Commitments And Contingencies [Line Items]
Purchase commitments		$ 20,800,000
Outstanding commitments owed to various franchisees		$ 8,100,000
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	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Tax Disclosure [Abstract]
Redeemed for cash totaling	$ 3,900
Net deferred tax expense	$ 321,100			$ 321,100		$ 321,054
Federal and State income Tax Rate				38.10%
Total Deferred Tax Liabilities				$ 462,300
Deferred tax assets				14,000
Income tax provision		$ (15,406)	$ (16,162)	$ 127,200	$ (17,366)	(21,860)
Provision for federal, state and foreign income tax expense (benefit)		$ 15,400	$ 16,100		$ 17,400	$ 21,900

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	$ 0.6	$ 0.6	$ 1.8	$ 1.5
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 ($)

Jul. 24, 2015

Jun. 11, 2015

Feb. 28, 2015

Jan. 31, 2015

Jan. 20, 2015

Nov. 25, 2014

Jun. 11, 2014

Sep. 30, 2015

Sep. 30, 2014

Sep. 30, 2015

Sep. 30, 2014

Feb. 19, 2015

Dec. 31, 2014

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

Total compensation expense

$ 3,320,000

$ 8,600,000

$ 16,464,000

$ 39,703,000

Common Stock, shares issued

130,983,804

130,983,804

130,778,365

Cash severance charge

$ 11,021,000

$ 11,021,000

Former President and Chief Executive Officer [Member]

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

Cash severance charge

$ 7,600,000

Blackstone [Member]

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

Holding percentage

27.10%

27.10%

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

5,400,000

$ 5,600,000

31,700,000

Forfeited shares for stock based compensation

9,658

Promote Plan [Member] | Restricted Stock [Member] | Tranche Two [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] | Tranche Three [Member]

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

Percentage of common shares vested

20.00%

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] | Tranche One [Member]

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

Percentage of common shares vested

40.00%

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

$ 6,200,000

$ 3,200,000

$ 13,600,000

$ 7,900,000

Forfeited shares for stock based compensation

35,773

Grant-date fair value

$ 19.80

Unrecognized compensation expense

$ 17,700,000

Common stock shares available for future issuance

11,800,000

11,800,000

2014 Omnibus Incentive Plan [Member] | Former President and Chief Executive Officer [Member]

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

Accelerated of vesting

300,000

Non-cash severance charge

$ 3,000,000

2014 Omnibus Incentive Plan [Member] | Restricted Stock [Member] | Tranche Two [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] | Tranche Three [Member]

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

Percentage of common shares vested

10.00%

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 1 month 6 days

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

40,965

Grant-date fair value

$ 22.09

$ 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 3 months 18 days

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 [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 3 months 18 days

Grant date weighted average price of awards

$ 21.86

$ 21.86

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] | Tranche One [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 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 3 months 18 days

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)	9 Months Ended
	Sep. 30, 2015
Performance Unit Grant [Member]
Schedule Of Share Based Compensation Valuation Assumptions [Line Items]
Expected volatility	24.05%
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%
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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Numerator:
Income (loss) from continuing operations, attributable to La Quinta Holdings’ stockholders	$ 17,058	$ 12,817	$ 18,537	$ (332,601)
Loss from discontinued operations, attributable to La Quinta Holdings’ stockholders				(503)
Net Income (Loss) attributable to La Quinta Holdings’ stockholders	$ 17,058	$ 12,817	$ 18,537	$ (333,104)
Denominator:
Weighted average number of shares outstanding, basic	129,858	127,734	129,264	125,542
Weighted average number of shares outstanding, diluted	130,914	128,494	130,543	125,542
Income (loss) from continuing operations attributable to La Quinta Holdings’ stockholders per common share, basic and diluted	$ 0.13	$ 0.10	$ 0.14	$ (2.65)
Basic and diluted earnings (loss) per share	$ 0.13	$ 0.10	$ 0.14	$ (2.65)

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share [Abstract]
Anti-dilutive securities excluded from computation of diluted shares	300,000		1,200,000
Common stock repurchase, authorized amount		$ 100,000,000
Common stock repurchased during period, shares		999,452
Weighted average repurchase price		$ 16.03
Aggregate stock repurchase price		$ 16,000,000
Cash settled for repurchase of common stock		$ 10,000,000
Percentage of repurchase of common stock		1.00%
Common stock repurchase, remaining authorized repurchase amount		$ 84,000,000

Segments - Summarized Consolida

Segments - Summarized Consolidated Financial Information by Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting Information [Line Items]
Revenues	$ 279,103	$ 271,118	$ 801,097	$ 748,716
Adjusted EBITDA	114,231	109,297	316,071	290,259
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	277,018	270,320	798,808	736,541
Adjusted EBITDA	118,558	117,005	341,279	318,203
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Revenues	34,757	34,026	97,862	88,054
Adjusted EBITDA	(4,327)	(7,708)	(25,208)	(27,944)
Intersegment Elimination [Member]
Segment Reporting Information [Line Items]
Revenues	(39,340)	(39,386)	(113,533)	(92,390)
Owned Hotels [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	245,558	241,266	711,451	667,564
Adjusted EBITDA	87,098	87,951	253,922	249,226
Franchise and Management [Member]
Segment Reporting Information [Line Items]
Revenues	6,668	6,158	17,960	16,511
Franchise and Management [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	31,460	29,054	87,357	68,977
Adjusted EBITDA	$ 31,460	$ 29,054	$ 87,357	$ 68,977

Segments - Summarized Consoli66

Segments - Summarized Consolidated Financial Information by Segment (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting Information [Line Items]
Revenue from owned hotels	$ 20	$ 20.1	$ 58.3	$ 51
Reservation fee percentage			2.00%
Fee charged to owned hotels	$ 39.3	$ 39.4	$ 113.5	$ 92.4
Owned Hotels [Member]
Segment Reporting Information [Line Items]
Franchise fee percentage			4.50%
Management fee percentage			2.50%
Owned Hotels [Member] | Prior to IPO [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] | Prior to IPO [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	Sep. 30, 2015	Jun. 30, 2015	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting [Abstract]
Adjusted EBITDA		$ 114,231		$ 109,297		$ 316,071	$ 290,259
Income (loss) from discontinued operations							(377)
Impairment loss		(1,823)				(44,321)	(5,308)
Loss on sale of hotel		(85)	$ (4,000)			(4,088)
Loss on retirement of assets						(161)
Gain (loss) related to casualty disasters		(393)		108		(1,064)	1,106
Gain (loss) on extinguishment of debt, net							(2,030)
Equity based compensation		(3,320)		(8,600)		(16,464)	(39,703)
Severance charges		(11,021)				(11,021)
Other gains (losses), net		873		(1,924)		(3,400)	(2,312)
EBITDA		98,462		98,881		235,552	241,635
Interest expense		(20,988)		(24,500)		(66,021)	(97,300)
Income tax provision		(15,406)		(16,162)		(17,366)	(21,860)
Recognition of net deferred tax liabilities upon C-corporation conversion	$ (321,100)				$ (321,100)		(321,054)
Depreciation and amortization		(44,985)		(45,352)		(133,335)	(130,711)
Noncontrolling interests		(25)		(50)		(293)	(3,814)
Net Income (Loss) attributable to La Quinta Holdings’ stockholders		$ 17,058		$ 12,817		$ 18,537	$ (333,104)

Segments - Reconciliation of As

Segments - Reconciliation of Assets for Reportable Segments to Consolidated Amounts (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 3,134,924	$ 3,265,707
Operating Segments [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	2,950,205	3,119,590
Operating Segments [Member] | Owned Hotels [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	2,755,240	2,928,180
Operating Segments [Member] | Franchise and Management [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	194,965	191,410
Corporate and Other [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 184,719	$ 146,117

Segments - Reconciliation of Ca

Segments - Reconciliation of Capital Expenditures for Reportable Segments to Consolidated Amounts (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures	$ 74,383	$ 65,832
Operating Segments [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures	59,480	52,019
Operating Segments [Member] | Owned Hotels [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures	59,480	52,019
Corporate and Other [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures	$ 14,903	$ 13,813