La Quinta 10-Q 3 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 29, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	LQ
Entity Registrant Name	LA QUINTA HOLDINGS INC.
Entity Central Index Key	1,594,617
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		116,796,601

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current Assets:
Cash and cash equivalents	$ 64,051	$ 86,709
Accounts receivable, net of allowance for doubtful accounts of $4,354 and $4,773	43,803	37,625
Assets held for sale	37,504	35,523
Other current assets	19,059	12,066
Total Current Assets	164,417	171,923
Property and equipment, net of accumulated depreciation	2,486,549	2,623,472
Intangible assets, net of accumulated amortization	177,525	178,095
Other non-current assets	12,180	12,354
Total Non-Current Assets	2,676,254	2,813,921
Total Assets	2,840,671	2,985,844
Current Liabilities:
Current portion of long-term debt	17,514	17,514
Accounts payable	30,236	27,572
Accrued expenses and other liabilities	64,600	63,120
Accrued payroll and employee benefits	32,760	30,918
Accrued real estate taxes	19,692	21,705
Total Current Liabilities	164,802	160,829
Long-term debt	1,688,491	1,694,585
Other long-term liabilities	39,495	30,330
Deferred tax liabilities	325,540	353,588
Total Liabilities	2,218,328	2,239,332
Commitments and Contingencies
Equity:
Preferred Stock, $0.01 par value; 100,000,000 shares authorized and none outstanding as of June 30, 2016 and December 31, 2015	0	0
Common Stock, $0.01 par value; 2,000,000,000 shares authorized at June 30, 2016 and December 31, 2015, 131,685,795 shares issued and 116,796,649 shares outstanding as of June 30, 2016 and 130,974,073 shares issued and 124,302,318 shares outstanding as of December 31, 2015	1,317	1,310
Additional paid-in-capital	1,158,615	1,152,155
Accumulated deficit	(318,644)	(294,718)
Treasury stock at cost, 14,889,146 shares at June 30, 2016 and 6,671,755 shares at December 31, 2015	(208,542)	(107,699)
Accumulated other comprehensive loss	(13,215)	(7,436)
Noncontrolling interests	2,812	2,900
Total Equity	622,343	746,512
Total Liabilities and Equity	$ 2,840,671	$ 2,985,844

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts	$ 4,354	$ 4,773
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	131,685,795	130,974,073
Common Stock, shares outstanding	116,796,649	124,302,318
Treasury stock, shares	14,889,146	6,671,755

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
REVENUES:
Room revenues	$ 229,868	$ 236,420	$ 439,341	$ 454,135
Franchise and other fee-based revenues	27,978	26,297	50,170	47,054
Other hotel revenues	5,018	4,937	9,849	9,513
Revenue from leased and owned hotels	262,864	267,654	499,360	510,702
Brand marketing fund revenues from franchise properties	6,691	6,234	11,966	11,292
Total Revenues	269,555	273,888	511,326	521,994
OPERATING EXPENSES:
Direct lodging expenses	103,578	100,002	202,490	197,507
Depreciation and amortization	36,628	42,213	74,925	83,976
General and administrative expenses	30,881	29,716	56,879	64,867
Other lodging and operating expenses	15,294	14,950	30,976	31,957
Marketing, promotional and other advertising expenses	20,503	19,095	40,287	37,804
Impairment loss	16,217	42,498	99,560	42,498
(Gain) loss on sales	(722)	4,003	(722)	4,003
Operating expenses	222,379	252,477	504,395	462,612
Brand marketing fund expenses from franchise properties	6,691	6,234	11,966	11,292
Total Operating Expenses	229,070	258,711	516,361	473,904
Operating Income (Loss)	40,485	15,177	(5,035)	48,090
OTHER INCOME (EXPENSES):
Interest expense, net	(20,286)	(22,191)	(40,592)	(44,962)
Other income	117	67	1,100	579
Total Other (Expenses) Income, net	(20,169)	(22,124)	(39,492)	(44,383)
Income (Loss) Before Income Taxes	20,316	(6,947)	(44,527)	3,707
Income tax (expense) benefit	(5,398)	2,380	20,721	(1,960)
NET INCOME (LOSS)	14,918	(4,567)	(23,806)	1,747
Less: net income attributable to noncontrolling interest	69	96	120	268
Net Income (Loss) attributable to La Quinta Holdings’ stockholders	$ 14,849	$ (4,663)	$ (23,926)	$ 1,479
Earnings (loss) per share:
Basic and diluted	$ 0.13	$ (0.04)	$ (0.20)	$ 0.01

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement Of Income And Comprehensive Income [Abstract]
NET INCOME (LOSS)	$ 14,918	$ (4,567)	$ (23,806)	$ 1,747
Cash flow hedge adjustment, net of tax	(855)	1,712	(5,779)	(2,707)
COMPREHENSIVE NET INCOME (LOSS)	14,063	(2,855)	(29,585)	(960)
Comprehensive net income attributable to noncontrolling interests	(69)	(96)	(120)	(268)
Comprehensive net income (loss) attributable to La Quinta Holdings’ Stockholders	$ 13,994	$ (2,951)	$ (29,705)	$ (1,228)

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]
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 (loss) income	1,747	$ 0	0	0	1,479	0	268
Distributions	(370)	0	0	0	0	0	(370)
Equity based compensation	12,973	$ 2	0	12,971	0	0	0
Equity based compensation, shares		178,688
Cash benefit related to equity comp (APIC Pool)	1,005	$ 0	0	1,005	0	0	0
Repurchase of common stock	(3,671)	$ (2)	(3,669)	0	0	0	0
Repurchase of common stock, shares		(152,697)
Cash flow hedge adjustment, net of tax	(2,707)	$ 0	0	0	0	(2,707)	0
Ending Balance at Jun. 30, 2015	817,432	$ 1,307	(5,201)	1,143,791	(319,604)	(5,834)	2,973
Ending Balance, shares at Jun. 30, 2015		130,859,362
Beginning Balance at Dec. 31, 2015	746,512	$ 1,310	(107,699)	1,152,155	(294,718)	(7,436)	2,900
Beginning Balance, shares at Dec. 31, 2015		124,302,318
Net (loss) income	(23,806)	$ 0	0	0	(23,926)	0	120
Distributions	(208)	0	0	0	0	0	(208)
Equity based compensation	7,102	$ 7	0	7,095	0	0	0
Equity based compensation, shares		608,893
Tax deficit related to equity comp (APIC pool)	(635)	$ 0	0	(635)	0	0	0
Repurchase of common stock	(100,843)	$ 0	(100,843)	0	0	0	0
Repurchase of common stock, shares		(2,031,743)
Cash flow hedge adjustment, net of tax	(5,779)	$ 0	0	0	0	(5,779)	0
Ending Balance at Jun. 30, 2016	$ 622,343	$ 1,317	$ (208,542)	$ 1,158,615	$ (318,644)	$ (13,215)	$ 2,812
Ending Balance, shares at Jun. 30, 2016		122,879,468

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net (loss) income	$ (23,806)	$ 1,747
Adjustment to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	74,872	83,847
Amortization of other non-current assets	119	376
Amortization of intangible assets	385	475
Loss related to casualty disasters	21	671
Amortization of leasehold interests	(332)	(346)
Amortization of deferred costs	2,821	2,760
Impairment loss	99,560	42,498
(Gain) loss on sale or retirement of assets	(722)	4,164
Equity based compensation	7,102	12,973
Excess tax benefit from equity based compensation	0	(1,005)
Deferred taxes	(25,572)	(3,622)
Provision for doubtful accounts	338	1,045
Changes in assets and liabilities:
Accounts receivable	(7,583)	(6,585)
Other current assets	(6,993)	(6,885)
Other non-current assets	56	(2,430)
Accounts payable	(884)	4,440
Accrued payroll and employee benefits	1,842	(4,613)
Accrued real estate taxes	(2,013)	(876)
Accrued expenses and other liabilities	1,432	(508)
Other long-term liabilities	792	613
Net cash provided by operating activities	121,435	128,739
Cash flows from investing activities:
Capital expenditures	(58,310)	(42,652)
Insurance proceeds on casualty disasters	2,142	4,392
Proceeds from sale of assets	22,042	3,092
Payment of franchise incentives	(159)	(30)
Net cash used in investing activities	(34,285)	(35,198)
Cash flows from financing activities:
Repayment of long-term debt	(8,757)	(143,865)
Purchase of treasury stock	(100,843)	(3,671)
Excess tax benefit from equity based compensation	0	1,005
Distributions to noncontrolling interests	(208)	(370)
Net cash used in financing activities	(109,808)	(146,901)
Decrease in cash and cash equivalents	(22,658)	(53,360)
Cash and cash equivalents at the beginning of the period	86,709	109,857
Cash and cash equivalents at the end of the period	64,051	56,497
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid during the period	38,485	43,875
Income taxes paid during the period, net of refunds	3,725	8,425
SUPPLEMENTAL NON-CASH DISCLOSURE:
Capital expenditures included in accounts payable	5,397	9,027
Cash flow hedge adjustment, net of tax	(5,779)	(2,707)
Receivable for capital assets damaged by casualty disasters	$ 1,027	$ 2,937

Organization and Basis of Prese

Organization and Basis of Presentation	6 Months Ended
	Jun. 30, 2016
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. Holdings may also be referred to herein as “La Quinta”, “we”, “us”, “our”, or the “Company”. 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 completion of our IPO, managed hotels under the La Quinta brand, with franchised hotels currently operating in the United States (“U.S.”), Canada, Mexico and Honduras. All new franchised hotels are La Quinta Inn & Suites in the U.S. and Canada and LQ Hotel in Mexico and in Central and South America. As of June 30, 2016 and 2015, total owned and franchised hotels, and the approximate number of associated rooms were as follows: June 30, 2016 June 30, 2015 # of hotels # of rooms # of hotels # of rooms Owned (1) 335 42,700 351 44,600 Joint Venture 1 200 1 200 Franchised 553 45,000 526 42,400 Totals 889 87,900 878 87,200 (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, 2015, 2014 and 2013, which are included in our Annual Report on Form 10-K, filed by Holdings with the Securities and Exchange Commission on February 25, 2016. 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.

Significant Accounting Policies

Significant Accounting Policies and Recently Issued Accounting Standards	6 Months Ended
	Jun. 30, 2016
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, transfer 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 or if the agreement is terminated 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 U.S. 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 U.S. 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. 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 properties represent fees collected from third party franchise 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 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 hotels are presented as brand marketing fund expenses from franchised hotels in our condensed consolidated statements of operations, resulting in no net impact to operating income (loss) or net income (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 are less than 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 —We account for income taxes using the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities from a change in tax rates is recognized in earnings during the period in which the new rate is enacted. 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. We evaluate the probability of realizing the future benefits of deferred tax assets and provide a valuation allowance for the portion of any deferred tax assets where the likelihood of realizing an income tax benefit in the future does not meet the more-likely-than-not criteria for recognition. We recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. We accrue interest and, if applicable, penalties for any uncertain tax positions. Our policy is to classify interest and penalties as a component of income tax expense. The Company has open tax years dating back to 2010. Newly Issued Accounting Standards In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which changes the methodology for measuring credit losses on financial instruments and the timing of when such losses are recorded. The guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2019. Early adoption is permitted for fiscal years, and interim periods within those years, beginning after December 15, 2018. We are currently evaluating the impact of this guidance on our consolidated financial position, results of operations and related disclosures. In May 2014, the FASB issued 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 February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which requires lessees to recognize on the balance sheet a right-of-use asset, representing its right to use the underlying asset for the lease term, and a lease liability for all leases with terms greater than 12 months. The guidance also requires qualitative and quantitative disclosures designed to assess the amount, timing, and uncertainty of cash flows arising from leases. The standard requires the use of a modified retrospective transition approach, which includes a number of optional practical expedients that entities may elect to apply. The guidance is effective for the interim and annual periods beginning after December 15, 2018. Early application is permitted. We are currently evaluating the impact of this guidance on our consolidated financial position, results of operations and related disclosures. In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, which is intended to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The guidance is effective for the interim and annual periods beginning after December 15, 2016. Early application is permitted. We are currently evaluating the impact of this guidance on our consolidated financial position, results of operations and related disclosures. Newly Adopted Accounting Standards In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40) - Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern, which requires management to evaluate, at each annual and interim reporting period, whether there are conditions or events that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date the financial statements are issued and provide related disclosures. ASU 2014-15 is effective for annual periods ending after December 15, 2016 and interim periods thereafter. We adopted this standard on January 1, 2016. This adoption did not have an effect on the Company’s results of operations, cash flows or financial position. In April 2015, the FASB issued ASU No. 2015-05: Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Fees Paid in a Cloud Computing Arrangement. The amendments in this update provide guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, the update specifies that the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. The update further specifies that the customer should account for a cloud computing arrangement as a service contract if the arrangement does not include a software license. ASU No. 2015-05 is effective for the Company for interim and annual periods beginning after December 15, 2015. We adopted this update as of January 1, 2016 on a retrospective basis. For the three and six months ended, June 30, 2015, we reclassified $2.1 million and $4.0 million of expense from depreciation and amortization to general and administrative expenses in the consolidated statement of operations. A corresponding reclassification was made in our consolidated statement of cash flows between depreciation and amortization and change in other current assets. Additionally, cash payments in the amount of $1.2 million and $6.6 million for software service agreements associated with cloud computing arrangements, which were classified as capital expenditures for the three and six months ended June 30, 2015, have been reclassified as a change in other current assets in our consolidated statement of cash flows. 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

Assets Held for Sale	6 Months Ended
	Jun. 30, 2016
Discontinued Operations And Disposal Groups [Abstract]
Assets Held for Sale	NOTE 3. ASSETS HELD FOR SALE 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. During the fourth quarter of 2015, 11 of these hotels were sold for $34.1 million, net of transaction costs. During the second quarter of 2016, three of these hotels were sold for $9.1 million, net of transaction costs. The remaining 10 are currently expected to close before the end of the third quarter of 2016. During the first quarter of 2016, one additional hotel was classified as an asset held for sale. The sale of this hotel closed in the second quarter of 2016 for $8.4 million, net of transaction costs. Another hotel was identified and sold during the second quarter of 2016 for $4.6 million, net of transaction costs. These two hotel transactions resulted in a gain on sale of $0.7 million. During the second quarter of 2016, three additional hotels were classified as assets held for sale. The sale of these hotels is expected to close in the third quarter of 2016. As of June 30, 2016 and December 31, 2015, the carrying amounts of the major classes of assets for assets held for sale were as follows: June 30, 2016 December 31, 2015 (in thousands) Current assets $ 140 $ 221 Property and equipment, net 37,048 34,982 Other non-current assets 316 320 Total assets held for sale $ 37,504 $ 35,523

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2016
Property Plant And Equipment [Abstract]
Property and Equipment	NOTE 4. PROPERTY AND EQUIPMENT The following is a summary of property and equipment as of June 30, 2016 and December 31, 2015: June 30, 2016 December 31, 2015 (in thousands) Land $ 742,870 $ 796,790 Buildings and improvements 2,656,211 2,703,293 Furniture, fixtures, equipment and other 416,291 408,190 Total property and equipment 3,815,372 3,908,273 Less accumulated depreciation (1,350,434 ) (1,288,281 ) Property and equipment, net 2,464,938 2,619,992 Construction in progress 21,611 3,480 Total property and equipment, net of accumulated depreciation $ 2,486,549 $ 2,623,472 Depreciation and amortization expense related to property and equipment was $36.6 million and $42.1 million for the three months ended June 30, 2016 and 2015, respectively. Depreciation and amortization expense related to property and equipment was $74.9 million and $83.8 million for the six months ended June 30, 2016 and 2015, respectively. Construction in progress includes capitalized costs for ongoing projects that have not yet been put into service.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Long-Term Debt	NOTE 5. LONG-TERM DEBT Long-term debt as of June 30, 2016 and December 31, 2015 was as follows: June 30, 2016 December 31, 2015 (in thousands) Current portion of term facility $ 17,514 $ 17,514 Long-term portion of term facility 1,688,491 1,694,585 Total long-term debt $ 1,706,005 $ 1,712,099 (1) As of June 30, 2016 and December 31, 2015, the 30 day United States dollar London Interbank Offering Rate (“LIBOR”) was 0.45% and 0.36%, respectively. As of June 30, 2016, the interest rate, maturity date and principal payments on the Term Facility were as follows: · During the six months ended June 30, 2016, we made quarterly scheduled principal payments of $8.8 million. During the six months ended June 30, 2015, we made a voluntary principal prepayment of $135.0 million and quarterly scheduled principal payments of $9.0 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 June 30, 2016. Included in the Term Facility as of June 30, 2016 and December 31, 2015 is an unamortized original issue discount of $7.5 million and $8.2 million, respectively. Included in the Term Facility as of June 30, 2016 and December 31, 2015 is the deduction of debt issuance costs of $20.4 million and $22.4 million, respectively. As of June 30, 2016 and December 31, 2015, we had $16.0 million and $16.5 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. 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%. 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 second step-down of 0.25% after that date. 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 June 30, 2016, we were in compliance with all applicable covenants under the Senior Facilities. Letters of Credit As of June 30, 2016 and December 31, 2015, we have $12.6 million and $14.6 million, respectively, 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%, resulting in a reduction of the per annum fee to 2.38%. Interest Expense, Net Net interest expense, including the impact of our interest rate swap (see Note 6), consisted of the following for the three and six months ended June 30, 2016 and 2015: For the three months ended June 30, For the six months ended June 30, Description 2016 2015 2016 2015 (in thousands) Term Facility $ 18,987 $ 20,951 $ 38,018 $ 42,442 Amortization of deferred financing costs 978 949 1,948 1,891 Amortization of original issue discount 359 349 715 695 Other interest 1 2 8 5 Interest income (39 ) (60 ) (97 ) (71 ) Total interest expense, net $ 20,286 $ 22,191 $ 40,592 $ 44,962

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Jun. 30, 2016
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	NOTE 6. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES During the three and six months ended June 30, 2016 and 2015, 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 1.00% LIBOR floor. Management has elected to designate this interest rate swap as a cash flow hedge for accounting purposes. Fair Value of Derivative Instruments The effects of our derivative instruments on our condensed consolidated balance sheets were as follows: June 30, 2016 December 31, 2015 Balance Sheet Classification Fair Value Balance Sheet Classification Fair Value (in thousands) Cash Flow Hedges: Interest rate swap Other long- term liabilities $ (20,331 ) Other long- term liabilities $ (11,440 ) 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 (loss), net of the effect for income taxes, were as follows: Classification of Gain For the three months ended June 30, For the six months ended June 30, (Loss) Recognized 2016 2015 2016 2015 (in thousands) Cash Flow Hedges: Interest rate swap (1) Other income (loss) $ (855 ) $ 1,712 $ (5,779 ) $ (2,707 ) (1) There were no amounts recognized in earnings related to hedge ineffectiveness or amounts excluded from hedge effectiveness testing during the three and six months ended June 30, 2016 and 2015 June 30, respectively.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	NOTE 7. FAIR VALUE MEASUREMENTS The carrying amount and estimated fair values of our financial assets and liabilities, which include related current portions, were as follows: June 30, 2016 December 31, 2015 Carrying Amount Fair Value Carrying Amount Fair Value (in thousands) Cash and cash equivalents (1) $ 64,051 $ 64,051 $ 86,709 $ 86,709 Interest rate swaps (2) (20,331 ) (20,331 ) (11,440 ) (11,440 ) Long-term debt (3)(4) (1,706,005 ) (1,678,982 ) (1,712,099 ) (1,675,760 ) (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. (4) We believe the carrying amounts of our cash and cash equivalents approximated fair value as of June 30, 2016 and December 31, 2015, 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 June 30, 2016 and December 31, 2015, respectively. Fluctuations in these assumptions will result in different estimates of fair value. We test long-lived assets for impairment if events or changes in circumstances indicate that the asset might be impaired. In the first quarter of 2016, we identified approximately 50 hotels where it became more likely than not that the holding period will be significantly shorter than the previously estimated useful lives. We recorded an impairment charge of $80.3 million in the first quarter of 2016, to adjust the carrying value of these assets to the lesser of their estimated fair value or carrying value. These assets did not meet the criteria for classification as assets held for sale as of the date of impairment. In the second quarter of 2016, one of these hotels sold and three were moved to 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 approximately 50 hotels are based on multiples of room revenues ranging from 3.70 to 1.50 for the identified assets. During the first quarter of 2016, we entered into an agreement to sell one of our Owned Hotels for approximately $8.0 million, net of estimated selling costs. We recorded an impairment charge of $3.0 million to adjust the carrying value of this Owned Hotel to its estimated fair value. During the first quarter of 2016, this Owned Hotel met the criteria for classification as assets held for sale and was sold in the second quarter of 2016. During the second quarter of 2016, we entered into agreements to sell three of our Owned Hotels included in the approximately 50 hotels described above, for approximately $10.4 million, net of estimated selling costs. The carrying value of these properties had been adjusted to the lesser of their estimated fair value or carrying value in the first quarter. We recorded an additional impairment charge of $0.6 million to adjust the carrying value of these Owned Hotels to their estimated fair value including a reduction for selling costs. During the second quarter of 2016, these Owned Hotels 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 assets are based on estimated selling price, less selling costs. In June of 2016, we began negotiations to sell two of our Owned Hotels. As such it became more likely than not that the holding period for these hotels will be significantly shorter than the previously estimated useful lives. During the second quarter of 2016, we recorded an impairment charge of $13.7 million to adjust the carrying value of these Owned Hotels to their estimated fair value. These Owned Hotels did not meet the criteria for classification as assets held for sale as of June 30, 2016. The fair value estimate is considered to be Level 2 within the fair value measurement hierarchy. The inputs used in determining the fair value of these assets are based on negotiated purchase prices from prospective buyers for the identified assets. Subsequent to June 30, 2016, we entered into purchase and sale agreements for these two hotels. Additionally, during the second quarter of 2016, we identified a hotel where it became more likely than not that the carrying amount would not be recoverable due to a change in market and economic conditions. We recorded an impairment charge of $1.0 million to adjust the carrying value of this hotel to its estimated fair value. The fair value estimate is considered to be Level 3 within the fair value measurement hierarchy. The inputs used in determining the fair value are based on a combination of historical and projected cash flows and other available market information, such as recent sales prices for similar assets. The following fair value hierarchy table presents information about assets measured at fair value on a nonrecurring basis during the period ended June 30, 2016: June 30, 2016 Level 1 Level 2 Level 3 Total Fair Value Impairment Charge (in thousands) Owned Hotels identified for possible sale $ — $ 18,500 $ 251,163 $ 269,663 $ 94,088 Assets Held for Sale (1) — — 37,504 37,504 1,527 1 Owned Hotel — — 1,150 1,150 985 $ — $ 18,500 $ 289,817 $ 308,317 $ 96,600 (1) in addition to the 3 Owned Hotels that the Company entered into an agreement to sell during the second quarter of 2016. The impairment charge for Assets Held for Sale is related to updating the fair value to be net of estimated selling cost. 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. The inputs used in determining the fair value in the second quarter for these 24 hotels were based on estimated selling prices ranging from $70.0 million to $75.0 million. During the third quarter of 2015, these assets met the criteria for classification as assets held for sale. During the fourth quarter of 2015, 11 of these hotels were sold for $34.1 million, net of transaction costs. During the second quarter of 2016, three of these hotels were sold for $9.1 million, net of selling costs. The remaining 10 are currently expected to close before the end of the third quarter of 2016. June 30, 2015 Level 1 Level 2 Level 3 Total Fair Value Impairment Charge (in thousands) 24 Owned Hotels Held for Sale (1) $ — $ — $ 71,235 $ 71,235 $ 42,498

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 8. RELATED PARTY TRANSACTIONS Prior to the IPO Effective Date, Holdings and 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”). In connection with the IPO, the Funds and other pre-IPO owners contributed their equity interests in the 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. In November 2014 and in April 2015, Blackstone completed two secondary offerings in which it registered and sold 23.0 million and 23.9 million shares of Holdings common shares, respectively. As of June 30, 2016, Blackstone beneficially owned 30.1% of Holdings’ common shares outstanding. As of June 30, 2016 and December 31, 2015, approximately $70.7 million and $41.6 million, respectively, of the aggregate principal amount of our Term Facility was owned by affiliates of Blackstone. We make periodic interest and principal payments on such debt in accordance with its terms. We engaged Blackstone Advisory Partners L.P. to provide certain financial consulting services in connection with the public offering of our common stock by certain stockholders in April 2015 for a fee of approximately $0.4 million. We also purchase products and services from entities affiliated with or owned by Blackstone. The fees paid for these products and services were approximately $0.7 million during the three months ended June 30, 2016 and 2015. The fees paid for these products and services were approximately $2.2 million and $1.5 million during the six months ended June 30, 2016 and 2015, respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 9. 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 — On April 25, 2016, a purported stockholder class action lawsuit, captioned Beisel v. La Quinta Holdings Inc. et al., was filed in the U.S. District Court for the Southern District of New York on behalf of purchasers of the Company’s common stock pursuant to the Company’s March 24, 2015 secondary public offering (the “March Secondary Offering”) and on behalf of purchasers of the Company’s common stock from February 25, 2015 through September 17, 2015 (the “Class Period”). The complaint names as defendants the Company, certain current and former Company officers, and certain current and former members of the Board of Directors, among others. The complaint alleges, among other things, that, in violation of the federal securities laws, the registration statement and prospectus filed in connection with the March Secondary Offering contained materially false and misleading information and that the Company as well as certain current and former officers made false and misleading statements in earnings releases and to analysts during the Class Period. Plaintiff seeks unspecified compensatory damages and other relief. The Company believes that the putative class action lawsuit is without merit and intends to defend the lawsuit vigorously; however, there can be no assurance regarding the ultimate outcome of this lawsuit. In addition, we are a party to a number of pending claims and lawsuits arising in the normal course of business, including proceedings involving tort and other general liability claims, workers’ compensation and other employee claims and intellectual property claims. We do not consider our ultimate liability with respect to any such claims or lawsuits, or the aggregate of such claims and lawsuits, to be material in relation to our consolidated financial condition, results of operations or our cash flows taken as a whole. We maintain general and other liability insurance; however, certain costs of defending lawsuits, such as those below the retention or insurance deductible amount, are not covered by or are only partially covered by insurance policies, and our insurance carriers could refuse to cover certain claims in whole or in part. We regularly evaluate our ultimate liability costs with respect to such claims and lawsuits. We accrue costs from litigation as they become probable and estimable. 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. Our discussions with the Appeals Officer are ongoing. 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 June 30, 2016, 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 June 30, 2016, we have not been advised of any proposed adjustments. Purchase Commitments — As of June 30, 2016, we had approximately $24.7 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 June 30, 2016, we had $11.2 million in outstanding commitments owed to various franchisees for such financial assistance.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 10. INCOME TAXES The Company recorded a provision for federal, state and foreign income tax expense of approximately $5.4 million and income tax benefit of $20.7 million for the three and six months ended June 30, 2016, respectively. The Company recorded a provision for federal, state and foreign income benefit of approximately $2.4 million and tax expense of approximately $2.0 million for the three and six months ended June 30, 2015, respectively. The provision for the three and six month periods ended June 30, 2016 and 2015, differs from the statutory federal tax rate of 35% primarily due to the impact of state income taxes and, for 2015, the impact of certain equity compensation charges that are not deductible for income tax purposes.

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2016
Compensation And Retirement Disclosure [Abstract]
Employee Benefit Plans	NOTE 11. EMPLOYEE BENEFIT PLANS We maintain a deferred savings plan covering substantially all of our employees that qualified under Section 401(k) of the Internal Revenue Code. Our deferred savings plan has an employer matching contribution of 100% of the first 3% and 50% of the next 2% of an employee’s eligible earnings, which vests immediately. We paid employer contributions of approximately $0.6 million and $1.2 million during both the three and six month periods ended June 30, 2016 and 2015, respectively.

Equity-Based Compensation

Equity-Based Compensation	6 Months Ended
	Jun. 30, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Equity-Based Compensation	NOTE 12. EQUITY-BASED COMPENSATION We issue time-vesting restricted stock awards (“RSAs”), time-vesting restricted stock units (“RSUs), and performance-based restricted stock units (“PSUs”). During the three and six months ended June 30, 2016, we recognized compensation expense of $4.6 million and $7.1 million, respectively, excluding related taxes. During the three and six months ended June 30, 2015, we recognized compensation expense of $4.0 million and $13.0 million, respectively, excluding related taxes. Unrecognized compensation expense as of June 30, 2016 was $21.4 million, which is expected to be recognized over a weighted-average period of 1.6 years. As of June 30, 2016, there were 11.2 million shares of common stock available for future issuance under our Amended and Restated 2014 Omnibus Incentive Plan, including shares issuable pursuant to the units granted under our restricted stock unit awards. RSAs — During the six months ended June 30, 2016, we issued 0.7 million RSAs with a weighted average grant date fair value of $11.65 per share, which generally vest in equal annual installments over three years from the date of grant. RSUs — During the six months ended June 30, 2016, we issued 0.1 million RSUs with a weighted average grant date fair value of $11.48 per unit, which generally vest in equal annual installments over three years from the date of grant. Vested RSUs are settled for our common stock. PSUs — During the six months ended June 30, 2016, we issued PSUs that would result in 0.4 million shares being issued at target value to certain of our employees. The performance period for PSUs is generally three years. The calculation of the value of the units granted during the six months ended June 30, 2016 is based solely on our total shareholder return (“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. Vested PSUs are settled with shares of our common stock. The weighted average grant date fair value of the PSUs granted during the six months ended June 30, 2016 was $12.18 per unit, which was determined using a Monte Carlo simulation valuation model with the following assumptions: Expected volatility (1) 29.03 % Dividend yield (2) — % Risk-free rate (3) 0.99 % Expected term (in years) (4) 2.62 (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 PSU 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

Earnings Per Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 13. 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 (loss) 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. The calculations of basic and diluted (loss) earnings per share are as follows: For the three months ended June 30, For the six months ended June 30, 2016 2015 2016 2015 (in thousands, except per share data) Numerator: Net income (loss) attributable to La Quinta Holdings’ stockholders $ 14,849 $ (4,663 ) $ (23,926 ) $ 1,479 Denominator: Weighted average number of shares outstanding, basic 117,280 129,544 120,448 128,971 Weighted average number of shares outstanding, diluted 117,360 129,544 120,448 130,310 Basic and diluted earnings (loss) per share $ 0.13 $ (0.04 ) $ (0.20 ) $ 0.01 For the three and six month periods ended June 30, 2016, approximately 0.7 million shares and 1.6 million shares, respectively, were excluded from the computation of diluted shares, as their impact would have been anti-dilutive. Approximately 1.1 million shares for the three month period ended June 30, 2015, were excluded from the computation of diluted shares, as their impact would have been anti-dilutive. For the six month period ended June 30, 2015, no shares were anti-dilutive. During March 2016, the 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 were 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. Under the Repurchase Program, through June 30, 2016, the Company repurchased 8.1 million shares of common stock. These shares were repurchased at a weighted-average price of $12.27 per share, for an aggregate purchase price, including commissions, of $100.0 million. The shares repurchased through June 30, 2016 represented approximately 6.6% of the Company's total shares of common stock outstanding as of December 31, 2015. The shares of common stock that were repurchased were placed in treasury stock.

Segments

Segments	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Segments	NOTE 14. 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 and franchise 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 (loss) income (exclusive of non-controlling interests) before interest expense, income tax expense (benefit), and depreciation and amortization, further adjusted to exclude certain items, including, but not limited to: gains, losses, and expenses in connection with: (i) asset dispositions; (ii) debt modifications/retirements; (iii) non-cash impairment charges; (iv) discontinued operations; (v) equity based compensation and (vi) other items. The table below shows summarized consolidated financial information by segment for the three and six months ended June 30, 2016 and 2015: For the three months ended June 30, For the six months ended June 30, 2016 2015 2016 2015 (in thousands) Revenues Owned hotels $ 236,364 $ 242,443 $ 451,919 $ 465,893 Franchise and management (1) 30,900 30,144 57,120 55,897 Segment revenues 267,264 272,587 509,039 521,790 Other fee-based revenues from franchise properties 6,691 6,234 11,966 11,292 Corporate and other (2) 33,008 33,696 62,131 63,105 Intersegment elimination (3) (37,408 ) (38,629 ) (71,810 ) (74,193 ) Total revenues $ 269,555 $ 273,888 $ 511,326 $ 521,994 Adjusted EBITDA Owned hotels 83,239 90,636 151,492 166,824 Franchise and management 30,900 30,144 57,120 55,897 Segment Adjusted EBITDA 114,139 120,780 208,612 222,721 Corporate and other (8,728 ) (8,944 ) (18,904 ) (20,881 ) Adjusted EBITDA $ 105,411 $ 111,836 $ 189,708 $ 201,840 (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. We charge 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. These fees are charged to owned hotels and are eliminated in the accompanying condensed consolidated financial statements. (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 $18.9 million and $20.0 million for the three month periods ended June 30, 2016 and 2015, respectively, and $36.5 million and $38.3 million for the six month periods ended June 30, 2016 and 2015, respectively. This 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 $37.4 million and $38.6 million for the three month periods ended June 30, 2016 and 2015, respectively, and $71.8 million and $74.2 million for the six month periods ended June 30, 2016 and 2015, respectively. These fees are charged to owned hotels and are eliminated in the accompanying condensed consolidated financial statements. The table below provides a reconciliation of Adjusted EBITDA to EBITDA and EBITDA to net income (loss) attributable to La Quinta Holdings’ stockholders for the three and six month periods ended June 30, 2016 and 2015: For the three months ended June 30, For the six months ended June 30, 2016 2015 2016 2015 (in thousands) Adjusted EBITDA $ 105,411 $ 111,836 $ 189,708 $ 201,840 Impairment loss (16,217 ) (42,498 ) (99,560 ) (42,498 ) Gain (loss) on sale 722 (4,003 ) 722 (4,003 ) Loss on retirement of assets — — — (161 ) (Loss) gain related to casualty disasters (690 ) 134 (21 ) (671 ) Equity based compensation (4,620 ) (4,175 ) (7,110 ) (13,144 ) Amortization of software service agreements (1) (2,487 ) (2,061 ) (4,634 ) (3,953 ) Other losses, net (2) (4,607 ) (1,501 ) (7,547 ) (4,273 ) EBITDA 77,512 57,732 71,558 133,137 Interest expense (20,325 ) (22,251 ) (40,689 ) (45,033 ) Income tax (expense) benefit (5,398 ) 2,380 20,721 (1,960 ) Depreciation and amortization (36,871 ) (42,428 ) (75,396 ) (84,397 ) Noncontrolling interests (69 ) (96 ) (120 ) (268 ) Net income (loss) attributable to La Quinta Holdings’ stockholders $ 14,849 $ (4,663 ) $ (23,926 ) $ 1,479 (1) We adopted ASU No. 2015-05 as of January 1, 2016. Accordingly, amortization of software service agreements in the amount of $2.1 million and $4.0 million, which was classified as depreciation and amortization for the three and six months ended June 30, 2015, respectively, has been to reclassified general and administrative in our consolidated statement of operations. See Note 2 for additional information. (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, severance costs and litigation reserve adjustments. The following table presents assets for our reportable segments, reconciled to consolidated amounts as of June 30, 2016 and December 31, 2015: June 30, 2016 December 31, 2015 (in thousands) Total Assets Owned hotels $ 2,549,230 $ 2,682,394 Franchise and management 196,052 192,284 Total segments assets 2,745,282 2,874,678 Corporate and other 95,389 111,166 Total $ 2,840,671 $ 2,985,844 The following table presents capital expenditures for our reportable segments, reconciled to our consolidated amounts for the six month periods ended June 30, 2016 and 2015: For the six months ended June 30, 2016 2015 (1) Capital Expenditures Owned hotels $ 51,337 $ 38,116 Franchise and management — — Total segment capital expenditures 51,337 38,116 Corporate and other 6,973 $ 4,536 Total $ 58,310 $ 42,652 (1) We adopted ASU No. 2015-05 as of January 1, 2016. Accordingly, cash payments of software service agreements in the amount of $6.6 million, which were classified as capital expenditures in corporate and other for the six months ended June 30, 2015, have been reclassified as a change in other current assets in our consolidated statement of cash flows. See Note 2 for additional information. ************

Significant Accounting Polici22

Significant Accounting Policies and Recently Issued Accounting Standards (Policies)	6 Months Ended
	Jun. 30, 2016
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, transfer 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 or if the agreement is terminated 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 U.S. 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 U.S. 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. 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 properties represent fees collected from third party franchise 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 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 hotels are presented as brand marketing fund expenses from franchised hotels in our condensed consolidated statements of operations, resulting in no net impact to operating income (loss) or net income (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 are less than 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 —We account for income taxes using the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities from a change in tax rates is recognized in earnings during the period in which the new rate is enacted. 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. We evaluate the probability of realizing the future benefits of deferred tax assets and provide a valuation allowance for the portion of any deferred tax assets where the likelihood of realizing an income tax benefit in the future does not meet the more-likely-than-not criteria for recognition. We recognize the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more-likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. We accrue interest and, if applicable, penalties for any uncertain tax positions. Our policy is to classify interest and penalties as a component of income tax expense. The Company has open tax years dating back to 2010.
Newly Issued and Adopted Accounting Standards	Newly Issued Accounting Standards In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which changes the methodology for measuring credit losses on financial instruments and the timing of when such losses are recorded. The guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2019. Early adoption is permitted for fiscal years, and interim periods within those years, beginning after December 15, 2018. We are currently evaluating the impact of this guidance on our consolidated financial position, results of operations and related disclosures. In May 2014, the FASB issued 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 February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which requires lessees to recognize on the balance sheet a right-of-use asset, representing its right to use the underlying asset for the lease term, and a lease liability for all leases with terms greater than 12 months. The guidance also requires qualitative and quantitative disclosures designed to assess the amount, timing, and uncertainty of cash flows arising from leases. The standard requires the use of a modified retrospective transition approach, which includes a number of optional practical expedients that entities may elect to apply. The guidance is effective for the interim and annual periods beginning after December 15, 2018. Early application is permitted. We are currently evaluating the impact of this guidance on our consolidated financial position, results of operations and related disclosures. In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, which is intended to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The guidance is effective for the interim and annual periods beginning after December 15, 2016. Early application is permitted. We are currently evaluating the impact of this guidance on our consolidated financial position, results of operations and related disclosures. Newly Adopted Accounting Standards In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40) - Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern, which requires management to evaluate, at each annual and interim reporting period, whether there are conditions or events that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date the financial statements are issued and provide related disclosures. ASU 2014-15 is effective for annual periods ending after December 15, 2016 and interim periods thereafter. We adopted this standard on January 1, 2016. This adoption did not have an effect on the Company’s results of operations, cash flows or financial position. In April 2015, the FASB issued ASU No. 2015-05: Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Fees Paid in a Cloud Computing Arrangement. The amendments in this update provide guidance to customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, the update specifies that the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. The update further specifies that the customer should account for a cloud computing arrangement as a service contract if the arrangement does not include a software license. ASU No. 2015-05 is effective for the Company for interim and annual periods beginning after December 15, 2015. We adopted this update as of January 1, 2016 on a retrospective basis. For the three and six months ended, June 30, 2015, we reclassified $2.1 million and $4.0 million of expense from depreciation and amortization to general and administrative expenses in the consolidated statement of operations. A corresponding reclassification was made in our consolidated statement of cash flows between depreciation and amortization and change in other current assets. Additionally, cash payments in the amount of $1.2 million and $6.6 million for software service agreements associated with cloud computing arrangements, which were classified as capital expenditures for the three and six months ended June 30, 2015, have been reclassified as a change in other current assets in our consolidated statement of cash flows. 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 Pre23

Organization and Basis of Presentation (Tables)	6 Months Ended
	Jun. 30, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Summary of Hotels Owned, Franchised, Managed, and Number of Associated Rooms	As of June 30, 2016 and 2015, total owned and franchised hotels, and the approximate number of associated rooms were as follows: June 30, 2016 June 30, 2015 # of hotels # of rooms # of hotels # of rooms Owned (1) 335 42,700 351 44,600 Joint Venture 1 200 1 200 Franchised 553 45,000 526 42,400 Totals 889 87,900 878 87,200 (1)

Assets Held for Sale (Tables)

Assets Held for Sale (Tables)	6 Months Ended
	Jun. 30, 2016
Discontinued Operations And Disposal Groups [Abstract]
Major Classes of Assets as Held for Sale	As of June 30, 2016 and December 31, 2015, the carrying amounts of the major classes of assets for assets held for sale were as follows: June 30, 2016 December 31, 2015 (in thousands) Current assets $ 140 $ 221 Property and equipment, net 37,048 34,982 Other non-current assets 316 320 Total assets held for sale $ 37,504 $ 35,523

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2016
Property Plant And Equipment [Abstract]
Summary of Property and Equipment	The following is a summary of property and equipment as of June 30, 2016 and December 31, 2015: June 30, 2016 December 31, 2015 (in thousands) Land $ 742,870 $ 796,790 Buildings and improvements 2,656,211 2,703,293 Furniture, fixtures, equipment and other 416,291 408,190 Total property and equipment 3,815,372 3,908,273 Less accumulated depreciation (1,350,434 ) (1,288,281 ) Property and equipment, net 2,464,938 2,619,992 Construction in progress 21,611 3,480 Total property and equipment, net of accumulated depreciation $ 2,486,549 $ 2,623,472

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt as of June 30, 2016 and December 31, 2015 was as follows: June 30, 2016 December 31, 2015 (in thousands) Current portion of term facility $ 17,514 $ 17,514 Long-term portion of term facility 1,688,491 1,694,585 Total long-term debt $ 1,706,005 $ 1,712,099 (1) As of June 30, 2016 and December 31, 2015, the 30 day United States dollar London Interbank Offering Rate (“LIBOR”) was 0.45% and 0.36%, respectively. As of June 30, 2016, the interest rate, maturity date and principal payments on the Term Facility were as follows: · During the six months ended June 30, 2016, we made quarterly scheduled principal payments of $8.8 million. During the six months ended June 30, 2015, we made a voluntary principal prepayment of $135.0 million and quarterly scheduled principal payments of $9.0 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 June 30, 2016. Included in the Term Facility as of June 30, 2016 and December 31, 2015 is an unamortized original issue discount of $7.5 million and $8.2 million, respectively. Included in the Term Facility as of June 30, 2016 and December 31, 2015 is the deduction of debt issuance costs of $20.4 million and $22.4 million, respectively. As of June 30, 2016 and December 31, 2015, we had $16.0 million and $16.5 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 6), consisted of the following for the three and six months ended June 30, 2016 and 2015: For the three months ended June 30, For the six months ended June 30, Description 2016 2015 2016 2015 (in thousands) Term Facility $ 18,987 $ 20,951 $ 38,018 $ 42,442 Amortization of deferred financing costs 978 949 1,948 1,891 Amortization of original issue discount 359 349 715 695 Other interest 1 2 8 5 Interest income (39 ) (60 ) (97 ) (71 ) Total interest expense, net $ 20,286 $ 22,191 $ 40,592 $ 44,962

Derivative Instruments and He27

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2016
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Effects of Fair Value of Derivative Instruments in Condensed Consolidated Balance Sheets	The effects of our derivative instruments on our condensed consolidated balance sheets were as follows: June 30, 2016 December 31, 2015 Balance Sheet Classification Fair Value Balance Sheet Classification Fair Value (in thousands) Cash Flow Hedges: Interest rate swap Other long- term liabilities $ (20,331 ) Other long- term liabilities $ (11,440 )
Earnings Effect of Derivative Instruments in Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Comprehensive Income (Loss)	The effects of our derivative instruments on our condensed consolidated statements of operations and condensed consolidated statements of comprehensive income (loss), net of the effect for income taxes, were as follows: Classification of Gain For the three months ended June 30, For the six months ended June 30, (Loss) Recognized 2016 2015 2016 2015 (in thousands) Cash Flow Hedges: Interest rate swap (1) Other income (loss) $ (855 ) $ 1,712 $ (5,779 ) $ (2,707 ) (1) There were no amounts recognized in earnings related to hedge ineffectiveness or amounts excluded from hedge effectiveness testing during the three and six months ended June 30, 2016 and 2015 June 30, respectively.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Carrying Amount and Estimated Fair Values of Financial Assets and Liabilities	The carrying amount and estimated fair values of our financial assets and liabilities, which include related current portions, were as follows: June 30, 2016 December 31, 2015 Carrying Amount Fair Value Carrying Amount Fair Value (in thousands) Cash and cash equivalents (1) $ 64,051 $ 64,051 $ 86,709 $ 86,709 Interest rate swaps (2) (20,331 ) (20,331 ) (11,440 ) (11,440 ) Long-term debt (3)(4) (1,706,005 ) (1,678,982 ) (1,712,099 ) (1,675,760 ) (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. (4)
Schedule of Fair Value of Assets Measured on Non-recurring Basis and Related Impairment Charges	The following fair value hierarchy table presents information about assets measured at fair value on a nonrecurring basis during the period ended June 30, 2016: June 30, 2016 Level 1 Level 2 Level 3 Total Fair Value Impairment Charge (in thousands) Owned Hotels identified for possible sale $ — $ 18,500 $ 251,163 $ 269,663 $ 94,088 Assets Held for Sale (1) — — 37,504 37,504 1,527 1 Owned Hotel — — 1,150 1,150 985 $ — $ 18,500 $ 289,817 $ 308,317 $ 96,600 (1) in addition to the 3 Owned Hotels that the Company entered into an agreement to sell during the second quarter of 2016. The impairment charge for Assets Held for Sale is related to updating the fair value to be net of estimated selling cost. June 30, 2015 Level 1 Level 2 Level 3 Total Fair Value Impairment Charge (in thousands) 24 Owned Hotels Held for Sale (1) $ — $ — $ 71,235 $ 71,235 $ 42,498

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2016
Performance Unit Grant II [Member]
Assumptions Used in Determining Fair Value of Performance Unit Grant	The weighted average grant date fair value of the PSUs granted during the six months ended June 30, 2016 was $12.18 per unit, which was determined using a Monte Carlo simulation valuation model with the following assumptions: Expected volatility (1) 29.03 % Dividend yield (2) — % Risk-free rate (3) 0.99 % Expected term (in years) (4) 2.62 (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 PSU grant, we had no foreseeable plans to pay dividends during the expected term of these performance shares. (3) Based on the yields of U.S. Department of Treasury instruments with similar expected lives. (4) As of the grant date.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Reconciliation of Numerators and Denominators Used for Computation of Basic and Diluted (loss) Earnings Per Share	The calculations of basic and diluted (loss) earnings per share are as follows: For the three months ended June 30, For the six months ended June 30, 2016 2015 2016 2015 (in thousands, except per share data) Numerator: Net income (loss) attributable to La Quinta Holdings’ stockholders $ 14,849 $ (4,663 ) $ (23,926 ) $ 1,479 Denominator: Weighted average number of shares outstanding, basic 117,280 129,544 120,448 128,971 Weighted average number of shares outstanding, diluted 117,360 129,544 120,448 130,310 Basic and diluted earnings (loss) per share $ 0.13 $ (0.04 ) $ (0.20 ) $ 0.01

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Summarized Consolidated Financial Information by Segment	The table below shows summarized consolidated financial information by segment for the three and six months ended June 30, 2016 and 2015: For the three months ended June 30, For the six months ended June 30, 2016 2015 2016 2015 (in thousands) Revenues Owned hotels $ 236,364 $ 242,443 $ 451,919 $ 465,893 Franchise and management (1) 30,900 30,144 57,120 55,897 Segment revenues 267,264 272,587 509,039 521,790 Other fee-based revenues from franchise properties 6,691 6,234 11,966 11,292 Corporate and other (2) 33,008 33,696 62,131 63,105 Intersegment elimination (3) (37,408 ) (38,629 ) (71,810 ) (74,193 ) Total revenues $ 269,555 $ 273,888 $ 511,326 $ 521,994 Adjusted EBITDA Owned hotels 83,239 90,636 151,492 166,824 Franchise and management 30,900 30,144 57,120 55,897 Segment Adjusted EBITDA 114,139 120,780 208,612 222,721 Corporate and other (8,728 ) (8,944 ) (18,904 ) (20,881 ) Adjusted EBITDA $ 105,411 $ 111,836 $ 189,708 $ 201,840 (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. We charge 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. These fees are charged to owned hotels and are eliminated in the accompanying condensed consolidated financial statements. (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 $18.9 million and $20.0 million for the three month periods ended June 30, 2016 and 2015, respectively, and $36.5 million and $38.3 million for the six month periods ended June 30, 2016 and 2015, respectively. This 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 $37.4 million and $38.6 million for the three month periods ended June 30, 2016 and 2015, respectively, and $71.8 million and $74.2 million for the six month periods ended June 30, 2016 and 2015, respectively. These fees are charged to owned hotels and are eliminated in the accompanying condensed consolidated financial statements.
Reconciliation of Adjusted EBITDA to EBITDA and EBITDA to Net Income (Loss) Attributable to Company	The table below provides a reconciliation of Adjusted EBITDA to EBITDA and EBITDA to net income (loss) attributable to La Quinta Holdings’ stockholders for the three and six month periods ended June 30, 2016 and 2015: For the three months ended June 30, For the six months ended June 30, 2016 2015 2016 2015 (in thousands) Adjusted EBITDA $ 105,411 $ 111,836 $ 189,708 $ 201,840 Impairment loss (16,217 ) (42,498 ) (99,560 ) (42,498 ) Gain (loss) on sale 722 (4,003 ) 722 (4,003 ) Loss on retirement of assets — — — (161 ) (Loss) gain related to casualty disasters (690 ) 134 (21 ) (671 ) Equity based compensation (4,620 ) (4,175 ) (7,110 ) (13,144 ) Amortization of software service agreements (1) (2,487 ) (2,061 ) (4,634 ) (3,953 ) Other losses, net (2) (4,607 ) (1,501 ) (7,547 ) (4,273 ) EBITDA 77,512 57,732 71,558 133,137 Interest expense (20,325 ) (22,251 ) (40,689 ) (45,033 ) Income tax (expense) benefit (5,398 ) 2,380 20,721 (1,960 ) Depreciation and amortization (36,871 ) (42,428 ) (75,396 ) (84,397 ) Noncontrolling interests (69 ) (96 ) (120 ) (268 ) Net income (loss) attributable to La Quinta Holdings’ stockholders $ 14,849 $ (4,663 ) $ (23,926 ) $ 1,479 (1) We adopted ASU No. 2015-05 as of January 1, 2016. Accordingly, amortization of software service agreements in the amount of $2.1 million and $4.0 million, which was classified as depreciation and amortization for the three and six months ended June 30, 2015, respectively, has been to reclassified general and administrative in our consolidated statement of operations. See Note 2 for additional information. (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, severance costs and litigation reserve adjustments.
Reconciliation of Assets for Reportable Segments to Consolidated Amounts	The following table presents assets for our reportable segments, reconciled to consolidated amounts as of June 30, 2016 and December 31, 2015: June 30, 2016 December 31, 2015 (in thousands) Total Assets Owned hotels $ 2,549,230 $ 2,682,394 Franchise and management 196,052 192,284 Total segments assets 2,745,282 2,874,678 Corporate and other 95,389 111,166 Total $ 2,840,671 $ 2,985,844
Reconciliation of Capital Expenditures for Reportable Segments to Consolidated Amounts	The following table presents capital expenditures for our reportable segments, reconciled to our consolidated amounts for the six month periods ended June 30, 2016 and 2015: For the six months ended June 30, 2016 2015 (1) Capital Expenditures Owned hotels $ 51,337 $ 38,116 Franchise and management — — Total segment capital expenditures 51,337 38,116 Corporate and other 6,973 $ 4,536 Total $ 58,310 $ 42,652 (1) We adopted ASU No. 2015-05 as of January 1, 2016. Accordingly, cash payments of software service agreements in the amount of $6.6 million, which were classified as capital expenditures in corporate and other for the six months ended June 30, 2015, have been reclassified as a change in other current assets in our consolidated statement of cash flows. See Note 2 for additional information.

Organization and Basis of Pre32

Organization and Basis of Presentation - Additional Information (Detail) shares in Millions	Apr. 14, 2014shares
IPO [Member]
Organization And Basis Of Presentation [Line Items]
Initial public offering, issued and sold	44

Organization and Basis of Pre33

Organization and Basis of Presentation - Summary of Hotels Owned, Franchised, Managed, and Number of Associated Rooms (Detail)	Jun. 30, 2016HotelRoom	Jun. 30, 2015HotelRoom
Real Estate Properties [Line Items]
Number of hotels | Hotel	889	878
Number of rooms | Room	87,900	87,200
Owned [Member]
Real Estate Properties [Line Items]
Number of hotels | Hotel	335	351
Number of rooms | Room	42,700	44,600
Joint Venture [Member]
Real Estate Properties [Line Items]
Number of hotels | Hotel	1	1
Number of rooms | Room	200	200
Franchised [Member]
Real Estate Properties [Line Items]
Number of hotels | Hotel	553	526
Number of rooms | Room	45,000	42,400

Organization and Basis of Pre34

Organization and Basis of Presentation - Summary of Hotels Owned, Franchised, Managed, and Number of Associated Rooms (Parenthetical) (Detail) - Hotel	Jun. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Sep. 30, 2015
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of hotels held for sale	13	3	1	24

Significant Accounting Polici35

Significant Accounting Policies and Recently Issued Accounting Standards - Additional Information (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
ASU No. 2015-05 [Member]
Summary Of Significant Accounting Policies [Line Items]
Reclassification of expense from depreciation and amortization to general and administrative expenses	$ 2,100,000		$ 4,000,000
Capital expenditures reclassified as a change in other current assets	$ 1,200,000		$ 6,600,000
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 - Addition

Assets Held for Sale - Additional Information (Detail) $ in Thousands	Jun. 30, 2016Hotel	Sep. 30, 2016Hotel	Jun. 30, 2016USD ($)Hotel	Mar. 31, 2016Hotel	Dec. 31, 2015USD ($)Hotel	Sep. 30, 2015HotelRestaurant	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)
Asset Retirement Obligation Disclosure [Line Items]
Number of hotels held for sale | Hotel	13		3	1		24
Number of restaurants parcel held for sale | Restaurant						1
Number of hotels sold | Hotel			3		11
Proceeds from sale of hotel | $			$ 9,100		$ 34,100		$ 22,042	$ 3,092
1 Owned Hotel [Member]
Asset Retirement Obligation Disclosure [Line Items]
Proceeds from sale of hotel | $			$ 8,400
2 Owned Hotel [Member]
Asset Retirement Obligation Disclosure [Line Items]
Number of hotels sold | Hotel			1
Proceeds from sale of hotel | $			$ 4,600
Owned Hotel One And Two
Asset Retirement Obligation Disclosure [Line Items]
Gain on sale of hotels | $			$ 700
Scenario Forecast [Member]
Asset Retirement Obligation Disclosure [Line Items]
Number of hotels held for sale | Hotel		10

Assets Held for Sale - Major Cl

Assets Held for Sale - Major Classes of Assets as Held for Sale (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Asset Retirement Obligation Disclosure [Abstract]
Current assets	$ 140	$ 221
Property and equipment, net	37,048	34,982
Other non-current assets	316	320
Total assets held for sale	$ 37,504	$ 35,523

Property and Equipment - Summar

Property and Equipment - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 3,815,372	$ 3,908,273
Less accumulated depreciation	(1,350,434)	(1,288,281)
Property and equipment, net	2,464,938	2,619,992
Construction in progress	21,611	3,480
Total property and equipment, net of accumulated depreciation	2,486,549	2,623,472
Land [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	742,870	796,790
Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	2,656,211	2,703,293
Furniture, Fixtures, Equipment and Other [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 416,291	$ 408,190

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Property Plant And Equipment [Abstract]
Depreciation and amortization expense	$ 36.6	$ 42.1	$ 74.9	$ 83.8

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
Current portion of term facility	$ 17,514	$ 17,514
Long-term portion of term facility	1,688,491	1,694,585
Total long-term debt	$ 1,706,005	$ 1,712,099

Long-Term Debt - Schedule of 41

Long-Term Debt - Schedule of Long-Term Debt (Parenthetical) (Detail) - USD ($) $ in Millions	Jul. 31, 2015	Apr. 14, 2014	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Debt Instrument [Line Items]
Debt issuance costs net			$ 20.4		$ 22.4
Senior Secured Term Loan Facility [Member]
Debt Instrument [Line Items]
Debt instrument, floor interest rate		1.00%
First lien net leverage ratio, description			First lien net leverage ratio of less than or equal to 4.50 to 1.00
First lien net leverage ratio	4.50	4.50
Term Facility [Member]
Debt Instrument [Line Items]
Quarterly principal payments			$ 8.8	$ 9
Principal pre-payment on term facility				$ 135
Debt instrument, basis spread on variable rate	3.00%
Unamortized long-term debt reduction			7.5		8.2
Debt issuance costs net			20.4		22.4
Accrued interest			$ 16		$ 16.5
Term Facility [Member] | Senior Secured Term Loan Facility [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.75%
First lien net leverage ratio, description			first lien net leverage ratio of less than 4.50 to 1.00
First lien net leverage ratio	0.0450
LIBOR [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate			0.45%		0.36%
LIBOR [Member] | Senior Secured Term Loan Facility [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		3.00%
LIBOR [Member] | Term Facility [Member]
Debt Instrument [Line Items]
Debt instrument, floor interest rate	1.00%
LIBOR [Member] | Term Facility [Member] | Senior Secured Term Loan Facility [Member]
Debt Instrument [Line Items]
Debt instrument, floor interest rate	1.00%

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail)	Jul. 31, 2015	Mar. 02, 2015	Apr. 14, 2014USD ($)	Sep. 30, 2014	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)
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
Debt instrument, floor interest 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]
Debt instrument, basis spread on variable rate			2.00%
Senior Secured Term Loan Facility [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			3.00%
Senior Secured Term Loan Facility [Member] | Maximum [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, floor interest rate			2.00%
Senior Secured Term Loan Facility [Member] | Minimum [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Debt instrument, floor interest rate			1.00%
Senior Secured Revolving Facility [Member]
Debt Instrument [Line Items]
Senior secured credit facility			$ 250,000,000
Line of credit facility maturity year			2,019
First lien net leverage ratio, description					First lien net leverage ratio less than or equal to 5.00 to 1.00
First lien net leverage ratio		5	5
Commitment fee rate		0.375%	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
Debt instrument, floor interest rate			1.00%
Step-down rate		0.25%	0.25%
First lien net leverage ratio		5
Proceeds from letters of credit					$ 12,600,000	$ 14,600,000
Percentage of fee on letter of credit		2.38%			2.63%
Revolving Facility [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			1.50%
Revolving Facility [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable 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
Step-down rate		0.25%
First lien net leverage ratio		5	5
Revolving Facility [Member] | Step-down Two [Member]
Debt Instrument [Line Items]
First lien net leverage ratio, description					First lien net leverage ratio of less than 4.50 to 1.00
Step-down rate	0.25%
First lien net leverage ratio	4.50		4.50
Revolving Facility [Member] | Step-down Three [Member]
Debt Instrument [Line Items]
First lien net leverage ratio			4

Long-Term Debt - Schedule of In

Long-Term Debt - Schedule of Interest Expense, Net (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Interest Expense [Line Items]
Other interest	$ 1	$ 2	$ 8	$ 5
Interest income	(39)	(60)	(97)	(71)
Total interest expense, net	20,286	22,191	40,592	44,962
Term Facility [Member]
Interest Expense [Line Items]
Interest expense	18,987	20,951	38,018	42,442
Amortization of deferred financing costs	978	949	1,948	1,891
Amortization of original issue discount	$ 359	$ 349	$ 715	$ 695

Derivative Instruments and He44

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 He45

Derivative Instruments and Hedging Activities - Effects of Fair Value of Derivative Instruments in Condensed Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Interest Rate Swap [Member] | Other Non-Current Long-Term Liabilities [Member]
Derivatives, Fair Value [Line Items]
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	$ (20,331)	$ (11,440)

Derivative Instruments and He46

Derivative Instruments and Hedging Activities - Earnings Effect of Derivative Instruments in Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Classification of Gain (Loss) Recognized	$ (855)	$ 1,712	$ (5,779)	$ (2,707)
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	$ (855)	$ 1,712	$ (5,779)	$ (2,707)

Derivative Instruments and He47

Derivative Instruments and Hedging Activities - Earnings Effect of Derivative Instruments in Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Amounts recognized in earnings related to hedge ineffectiveness	$ 0	$ 0	$ 0	$ 0

Fair Value Measurements - Carry

Fair Value Measurements - Carrying Amount and Estimated Fair Values of Financial Assets and Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Cash and cash equivalents, carrying amount	$ 64,051	$ 86,709	$ 56,497	$ 109,857
Interest rate swaps, carrying amount	(20,331)	(11,440)
Long-term debt, carrying amount	(1,706,005)	(1,712,099)
Cash and cash equivalents, fair value	64,051	86,709
Interest rate swaps, fair value	(20,331)	(11,440)
Long-term debt, fair value	$ (1,678,982)	$ (1,675,760)

Fair Value Measurements - Car49

Fair Value Measurements - Carrying Amount and Estimated Fair Values of Financial Assets and Liabilities (Parenthetical) (Detail) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Debt issuance cost net	$ 20.4	$ 22.4

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) $ in Thousands	Jun. 30, 2016Hotel	Sep. 30, 2016Hotel	Jun. 30, 2016USD ($)Hotel	Mar. 31, 2016USD ($)Hotel	Dec. 31, 2015USD ($)Hotel	Sep. 30, 2015Hotel	Jun. 30, 2015USD ($)Hotel	Jun. 30, 2016USD ($)Hotel	Jun. 30, 2015USD ($)Hotel	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of hotel not considered as held for sale | Hotel				50			24		24
Impairment charge			$ 1,000				$ 42,498	$ 96,600
Number of impaired hotel sold | Hotel			1
Number of hotels held for sale | Hotel	13		3	1		24
Number of wholly owned hotels agreed to sell | Hotel			3	1
Estimated selling prices				$ 8,000
Number of hotels sold | Hotel			3		11
Proceeds from sale of assets			$ 9,100		$ 34,100			22,042	$ 3,092
Scenario Forecast [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of hotels held for sale | Hotel		10
50 Hotels
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Impairment charge				80,300
Assets Held For Sale [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Impairment charge								1,527
Number of hotels held for sale | Hotel			3			10
1 Owned Hotel [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Impairment charge				$ 3,000				$ 985
Proceeds from sale of assets			$ 8,400
3 Owned Hotels [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Impairment charge			$ 600
Number of wholly owned hotels agreed to sell | Hotel			3
Estimated selling prices			$ 10,400
2 Owned Hotels [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Impairment charge			$ 13,700
Number of wholly owned hotels agreed to sell | Hotel								2
Maximum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Range of room revenues multiples								3.70
Estimated selling prices							75,000
Minimum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Range of room revenues multiples								1.50
Estimated selling prices							$ 70,000
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			6 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Jun. 30, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets held for use	$ 308,317			$ 308,317
Impairment charge on assets held for use	1,000		$ 42,498	96,600
24 Owned Hotels Held for Sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets held for use	71,235			71,235
Impairment charge on assets held for use				42,498
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets held for use	18,500			18,500
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets held for use	289,817			289,817
Level 3 [Member] | 24 Owned Hotels Held for Sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets held for use	71,235			71,235
Owned Hotels Identified For Possible Sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets held for use	269,663			269,663
Impairment charge on assets held for use				94,088
Owned Hotels Identified For Possible Sale [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets held for use	18,500			18,500
Owned Hotels Identified For Possible Sale [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets held for use	251,163			251,163
Assets Held For Sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets held for use	37,504			37,504
Impairment charge on assets held for use				1,527
Assets Held For Sale [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets held for use	37,504			37,504
1 Owned Hotel [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets held for use	1,150			1,150
Impairment charge on assets held for use		$ 3,000		985
1 Owned Hotel [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets held for use	$ 1,150			$ 1,150

Fair Value Measurements - Sch52

Fair Value Measurements - Schedule of Fair Value of Assets Measured on Non-recurring Basis and Related Impairment Charges (Parenthetical) (Detail)	Jun. 30, 2016Hotel	Jun. 30, 2016Hotel	Mar. 31, 2016Hotel	Sep. 30, 2015HotelRestaurant
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of hotels held for sale	13	3	1	24
Number of restaurants parcel held for sale | Restaurant				1
Number of wholly owned hotels agreed to sell		3	1
Assets Held For Sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of hotels held for sale		3		10

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) shares in Thousands, $ in Millions	1 Months Ended		3 Months Ended		6 Months Ended
	Apr. 30, 2015	Nov. 30, 2014	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Apr. 14, 2014
Related Party Transaction [Line Items]
Exchange of common stock shares								81,060
Previously Managed Hotels [Member]
Related Party Transaction [Line Items]
Purchase products and services from affiliates			$ 0.7	$ 0.7	$ 2.2	$ 1.5
Blackstone [Member]
Related Party Transaction [Line Items]
Fee paid to provide financial consulting services	$ 0.4
Blackstone [Member] | Secondary Offering [Member]
Related Party Transaction [Line Items]
Shares of holdings common shares	23,900	23,000
Percentage of holdings common shares outstanding			30.10%		30.10%
Affiliates of Black Stone [Member] | Senior Secured Term Loan Facility [Member]
Related Party Transaction [Line Items]
Senior secured credit facility			$ 70.7		$ 70.7		$ 41.6

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	Jul. 07, 2014	Jun. 30, 2016
Commitments And Contingencies [Line Items]
Purchase commitments		$ 24.7
Outstanding commitments owed to various franchisees		$ 11.2
Internal Revenue Service (IRS) [Member]
Commitments And Contingencies [Line Items]
Notice of taxable adjustment from IRS	$ 158
Operating Loss Carryforwards	$ 89
Tax rate impose on REIT, federal and state tax authorities	100.00%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Provision for federal, state and foreign income tax expense (benefit)	$ 5.4	$ 2.4	$ 20.7	$ 2
Income tax federal statutory rate	35.00%	35.00%	35.00%	35.00%

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Defined Benefit Plan Disclosure [Line Items]
Employer contributions	$ 0.6	$ 0.6	$ 1.2	$ 1.2
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 ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total compensation expense	$ (4,620)	$ (4,175)	$ (7,110)	$ (13,144)
Unrecognized compensation expense			$ 21,400
Weighted average period of recognition for unrecognized compensation expense			1 year 7 months 6 days
Common Stock, shares issued	131,685,795		131,685,795		130,974,073
Restricted Stock Awards (RSAs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted during the period			700,000
Weighted average grant date fair value			$ 11.65
Vesting period			3 years
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted during the period			100,000
Weighted average grant date fair value			$ 11.48
Vesting period			3 years
Performance-based Restricted Stock Units (PSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average grant date fair value			$ 12.18
Common Stock, shares issued	400,000		400,000
Performance awards performance period			3 years
Description of value of units granted under the plan			The calculation of the value of the units granted during the six months ended June 30, 2016 is based solely on our total shareholder return (“TSR”) relative to the Relative Shareholder Return.
Performance-based Restricted Stock Units (PSUs) [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Payout range			33.00%
Performance-based Restricted Stock Units (PSUs) [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Payout range			200.00%
2014 Omnibus Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share reserved for purchase	11,200,000		11,200,000

Equity-Based Compensation - Ass

Equity-Based Compensation - Assumptions Used in Determining Fair Value of Performance Unit Grant (Detail) - Performance-based Restricted Stock Units (PSUs) [Member]	6 Months Ended
	Jun. 30, 2016
Schedule Of Share Based Compensation Valuation Assumptions [Line Items]
Expected volatility	29.03%
Risk-free rate	0.99%
Expected term (in years)	2 years 7 months 13 days

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation of Numerators and Denominators Used for Computation of Basic and Diluted (loss) Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Numerator:
Net income (loss) attributable to La Quinta Holdings’ stockholders	$ 14,849	$ (4,663)	$ (23,926)	$ 1,479
Denominator:
Weighted average number of shares outstanding, basic	117,280	129,544	120,448	128,971
Weighted average number of shares outstanding, diluted	117,360	129,544	120,448	130,310
Basic and diluted earnings (loss) per share	$ 0.13	$ (0.04)	$ (0.20)	$ 0.01

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Mar. 31, 2016
Earnings Per Share [Abstract]
Anti-dilutive securities excluded from computation of diluted shares	0.7	1.1	1.6	0
Common stock repurchase, authorized amount					$ 100,000,000
Common stock repurchased during period, shares			8.1
Weighted average repurchase price			$ 12.27
Aggregate stock repurchase price	$ 100,000,000		$ 100,000,000
Percentage of repurchase of common stock			6.60%

Segments - Summarized Consolida

Segments - Summarized Consolidated Financial Information by Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting Information [Line Items]
Revenues	$ 269,555	$ 273,888	$ 511,326	$ 521,994
Adjusted EBITDA	105,411	111,836	189,708	201,840
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	267,264	272,587	509,039	521,790
Adjusted EBITDA	114,139	120,780	208,612	222,721
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Revenues	33,008	33,696	62,131	63,105
Adjusted EBITDA	(8,728)	(8,944)	(18,904)	(20,881)
Intersegment Elimination [Member]
Segment Reporting Information [Line Items]
Revenues	(37,408)	(38,629)	(71,810)	(74,193)
Owned Hotels [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	236,364	242,443	451,919	465,893
Adjusted EBITDA	83,239	90,636	151,492	166,824
Franchise and Management [Member]
Segment Reporting Information [Line Items]
Revenues	6,691	6,234	11,966	11,292
Franchise and Management [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	30,900	30,144	57,120	55,897
Adjusted EBITDA	$ 30,900	$ 30,144	$ 57,120	$ 55,897

Segments - Summarized Consoli62

Segments - Summarized Consolidated Financial Information by Segment (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting Information [Line Items]
Reservation fee percentage			2.00%
Owned Hotels [Member]
Segment Reporting Information [Line Items]
Franchise fee percentage			4.50%
Management fee percentage			2.50%
Revenue from owned hotels	$ 18.9	$ 20	$ 36.5	$ 38.3
Fee charged to owned hotels	$ 37.4	$ 38.6	$ 71.8	$ 74.2

Segments - Reconciliation of Ad

Segments - Reconciliation of Adjusted EBITDA to EBITDA and EBITDA to Net Income (Loss) Attributable to Company (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting [Abstract]
Adjusted EBITDA	$ 105,411	$ 111,836	$ 189,708	$ 201,840
Impairment loss	(16,217)	(42,498)	(99,560)	(42,498)
Gain (loss) on sale	722	(4,003)	722	(4,003)
Loss on retirement of assets				(161)
(Loss) gain related to casualty disasters	(690)	134	(21)	(671)
Total compensation expense	(4,620)	(4,175)	(7,110)	(13,144)
Amortization of software service agreements	(2,487)	(2,061)	(4,634)	(3,953)
Other losses, net	(4,607)	(1,501)	(7,547)	(4,273)
EBITDA	77,512	57,732	71,558	133,137
Interest expense	(20,325)	(22,251)	(40,689)	(45,033)
Income tax (expense) benefit	(5,398)	2,380	20,721	(1,960)
Depreciation and amortization	(36,871)	(42,428)	(75,396)	(84,397)
Noncontrolling interests	(69)	(96)	(120)	(268)
Net Income (Loss) attributable to La Quinta Holdings’ stockholders	$ 14,849	$ (4,663)	$ (23,926)	$ 1,479

Segments - Reconciliation of 64

Segments - Reconciliation of Adjusted EBITDA to EBITDA and EBITDA to Net Income (Loss) Attributable to Company (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015
ASU No. 2015-05 [Member]
Segment Reporting Information [Line Items]
Reclassification of expense from depreciation and amortization to general and administrative expenses	$ 2.1	$ 4

Segments - Reconciliation of As

Segments - Reconciliation of Assets for Reportable Segments to Consolidated Amounts (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 2,840,671	$ 2,985,844
Operating Segments [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	2,745,282	2,874,678
Operating Segments [Member] | Owned Hotels [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	2,549,230	2,682,394
Operating Segments [Member] | Franchise and Management [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	196,052	192,284
Corporate and Other [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 95,389	$ 111,166

Segments - Reconciliation of Ca

Segments - Reconciliation of Capital Expenditures for Reportable Segments to Consolidated Amounts (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures	$ 58,310	$ 42,652
Operating Segments [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures	51,337	38,116
Operating Segments [Member] | Owned Hotels [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures	51,337	38,116
Corporate and Other [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures	$ 6,973	$ 4,536

Segments - Reconciliation of 67

Segments - Reconciliation of Capital Expenditures for Reportable Segments to Consolidated Amounts (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015
ASU No. 2015-05 [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital expenditures reclassified as a change in other current assets	$ 1.2	$ 6.6