La Quinta 10-Q 9 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 03, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
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		117,246,097

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current Assets:
Cash and cash equivalents	$ 113,486	$ 140,849
Accounts receivable, net of allowance for doubtful accounts of $4,169 and $4,296	74,368	66,183
Assets held for sale	4,787	8,706
Other current assets	14,198	12,015
Total Current Assets	206,839	227,753
Property and equipment, net of accumulated depreciation	2,511,783	2,506,523
Intangible assets, net of accumulated amortization	175,755	175,982
Other non-current assets	52,902	42,838
Total Non-Current Assets	2,740,440	2,725,343
Total Assets	2,947,279	2,953,096
Current Liabilities:
Current portion of long-term debt	17,514	17,514
Accounts payable	65,895	48,757
Accrued expenses and other liabilities	64,126	59,587
Accrued payroll and employee benefits	42,832	52,113
Accrued real estate taxes	13,543	20,782
Total Current Liabilities	203,910	198,753
Long-term debt	1,667,476	1,670,447
Other long-term liabilities	44,036	21,833
Deferred tax liabilities	227,314	233,765
Total Liabilities	2,142,736	2,124,798
Commitments and Contingencies
Equity:
Preferred Stock, $0.01 par value; 100,000,000 shares authorized and none outstanding as of March 31, 2018 and December 31, 2017	0	0
Common Stock, $0.01 par value; 2,000,000,000 shares authorized at March 31, 2018 and December 31, 2017, 132,475,086 shares issued and 117,342,020 shares outstanding as of March 31, 2018 and 132,478,073 shares issued and 117,345,996 shares outstanding as of December 31, 2017	1,325	1,325
Additional paid-in-capital	1,184,701	1,181,639
Accumulated deficit	(173,886)	(144,041)
Treasury stock at cost, 15,133,066 shares at March 31, 2018 and 15,132,077 shares at December 31, 2017	(212,479)	(212,461)
Accumulated other comprehensive income (loss)	2,308	(760)
Noncontrolling interests	2,574	2,596
Total Equity	804,543	828,298
Total Liabilities and Equity	$ 2,947,279	$ 2,953,096

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Statement Of Financial Position [Abstract]
Allowance for doubtful accounts	$ 4,169	$ 4,296
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	132,475,086	132,478,073
Common Stock, shares outstanding	117,342,020	117,345,996
Treasury stock, shares	15,133,066	15,132,077

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
REVENUES:
Room revenues	$ 191,708	$ 199,744
Franchise and other fee-based revenues	25,896	23,978
Other hotel revenues	4,779	4,796
Revenue from leased and owned hotels	222,383	228,518
Brand marketing fund revenues from franchised properties	6,397	5,754
Total Revenues	228,780	234,272
OPERATING EXPENSES:
Direct lodging expenses	103,875	100,334
Depreciation and amortization	39,702	36,040
General and administrative expenses	41,835	35,438
Other lodging and operating expenses	15,323	14,060
Marketing, promotional and other advertising expenses	17,804	18,536
(Gain) loss on sales	(498)	138
Operating expenses	218,041	204,546
Brand marketing fund expenses from franchised properties	6,397	5,754
Total Operating Expenses	224,438	210,300
Operating Income	4,342	23,972
OTHER INCOME (EXPENSES):
Interest expense, net	(21,456)	(19,980)
Other income (expense)	119	(24)
Total Other Expenses, net	(21,337)	(20,004)
(Loss) Income Before Income Taxes	(16,995)	3,968
Income tax benefit (expense)	1,927	(2,290)
NET (LOSS) INCOME	(15,068)	1,678
Less: net income attributable to noncontrolling interest	(71)	(89)
Net (Loss) Income attributable to La Quinta Holdings’ stockholders	$ (15,139)	$ 1,589
Earnings (loss) per share:
Basic and diluted	$ (0.13)	$ 0.01

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement Of Income And Comprehensive Income [Abstract]
NET (LOSS) INCOME	$ (15,068)	$ 1,678
Cash flow hedge adjustment, net of tax	3,068	1,778
COMPREHENSIVE NET (LOSS) INCOME	(12,000)	3,456
Comprehensive net income attributable to noncontrolling interests	(71)	(89)
Comprehensive net (loss) income attributable to La Quinta Holdings’ Stockholders	$ (12,071)	$ 3,367

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, 2016	$ 657,837	$ 1,318	$ (209,523)	$ 1,165,651	$ (296,006)	$ (6,372)	$ 2,769
Beginning Balance, shares at Dec. 31, 2016		116,790,470
Net (loss) income	1,678				1,589		89
Distributions	(117)						(117)
Equity-based compensation	3,939	$ 7		3,932
Equity-based compensation, shares		705,409
Repurchase of common stock	(16)		(16)
Repurchase of common stock, shares		(7,095)
Cash flow hedge adjustment, net of tax	1,778					1,778
Ending Balance at Mar. 31, 2017	665,099	$ 1,325	(209,539)	1,169,583	(294,417)	(4,594)	2,741
Ending Balance, shares at Mar. 31, 2017		117,488,784
Beginning Balance at Dec. 31, 2017	$ 828,298	$ 1,325	(212,461)	1,181,639	(144,041)	(760)	2,596
Beginning Balance, shares at Dec. 31, 2017	117,345,996	117,345,996
Cumulative-effect adjustment for the adoption of ASU | ASU 2014-09 [Member]	$ (14,869)				(14,869)
Cumulative-effect adjustment for the adoption of ASU | ASU 2018-02 [Member]	163				163
Net (loss) income	(15,068)				(15,139)		71
Distributions	(93)						(93)
Equity-based compensation	3,062			3,062
Equity-based compensation, shares		405
Repurchase of common stock	(18)		(18)
Repurchase of common stock, shares		(4,381)
Cash flow hedge adjustment, net of tax	3,068					3,068
Ending Balance at Mar. 31, 2018	$ 804,543	$ 1,325	$ (212,479)	$ 1,184,701	$ (173,886)	$ 2,308	$ 2,574
Ending Balance, shares at Mar. 31, 2018	117,342,020	117,342,020

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
NET (LOSS) INCOME	$ (15,068)	$ 1,678
Adjustment to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	39,668	36,004
Amortization of other non-current assets	475	76
Amortization of intangible assets	139	167
Gain related to casualty disasters	(928)	(1,928)
Amortization of leasehold interests	(105)	(131)
Amortization of deferred costs	1,488	1,471
(Gain) loss on sale or retirement of assets	(498)	138
Equity-based compensation	3,062	3,939
Deferred taxes	(2,424)	2,651
Provision for doubtful accounts	316	603
Changes in assets and liabilities:
Accounts receivable	(1,555)	214
Other current assets	(2,183)	(3,183)
Other non-current assets	(867)	(562)
Accounts payable	2,318	(6,925)
Accrued payroll and employee benefits	(9,281)	(5,562)
Accrued real estate taxes	(7,239)	(8,423)
Accrued expenses and other liabilities	1,676	3,445
Other long-term liabilities	(144)	1,349
Net cash provided by operating activities	8,850	25,021
Cash flows from investing activities:
Capital expenditures	(40,171)	(46,178)
Insurance proceeds on casualty disasters	4,000	4,557
Proceeds from sale of assets	4,447	22,011
Net cash used in investing activities	(31,724)	(19,610)
Cash flows from financing activities:
Repayment of long-term debt	(4,378)	(4,379)
Purchase of treasury stock	(18)	(16)
Distributions to noncontrolling interests	(93)	(117)
Net cash used in financing activities	(4,489)	(4,512)
(Decrease) increase in cash and cash equivalents	(27,363)	899
Cash and cash equivalents at the beginning of the period	140,849	160,596
Cash and cash equivalents at the end of the period	113,486	161,495
SUPPLEMENTAL CASH FLOW INFORMATION:
Interest paid during the period	19,745	19,713
Income taxes paid during the period, net of refunds	102	261
SUPPLEMENTAL NON-CASH DISCLOSURE:
Capital expenditures included in accounts payable	14,791	11,758
Cash flow hedge adjustment, net of tax	3,068	1,778
Receivable for capital assets damaged by casualty disasters	$ 5,754	$ 2,725

Organization and Basis of Prese

Organization and Basis of Presentation	3 Months Ended
	Mar. 31, 2018
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 its 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 (“U.S.”) under the La Quinta brand. We also franchise hotels under the La Quinta brand, with franchised hotels currently operating in the U.S., Canada, Mexico, Honduras, Colombia and Chile. 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 March 31, 2018 and 2017, total owned and franchised hotels, and the approximate number of associated rooms, were as follows: March 31, 2018 March 31, 2017 # of hotels # of rooms # of hotels # of rooms Owned (1) 315 40,300 318 40,700 Joint Venture 1 200 1 200 Franchised 591 48,300 570 46,500 Totals 907 88,800 889 87,400 (1) Spin of CorePoint Lodging and Merger Agreement with Wyndham Worldwide On January 17, 2018, La Quinta Holdings Inc. and Wyndham Worldwide Corporation, a Delaware corporation (“ , on the terms and subject to the conditions set forth in the Separation Agreement, immediately prior to the Merger with Wyndham Worldwide, we will, among other things, (i) effect a reclassification and combination of our common stock whereby each share of our common stock will be reclassified and combined into one half of a share of our common stock (par value $0.02) (the “Reverse Stock Split”), (ii) convey our owned real estate assets and certain related assets and liabilities to CorePoint Lodging Inc. (“CorePoint Lodging”) and, (iii) thereafter, distribute (the “Spin”) to our common stockholders all of the issued and outstanding shares of common stock of CorePoint Lodging, which will become a separate publicly traded company. Immediately the Spin, in accordance with and subject to the terms of the Merger Agreement, a wholly-owned subsidiary of Wyndham Worldwide will merge with and into Holdings, with Holdings continuing as the surviving company and as a wholly-owned indirect subsidiary of Wyndham Worldwide, and our common stock will be delisted from the New York Stock Exchange. The boards of directors of each of Wyndham Worldwide and La Quinta have approved the Merger Agreement. Our stockholders approved the Merger Agreement at a special meeting of stockholders on April 26, 2018. The Merger is subject to the completion of the Reverse Stock Split and the Spin and certain other customary conditions. Financing in connection with the Spin and Merger In connection with the transactions contemplated by the Merger Agreement and the Separation Agreement, including the Merger and Spin, CorePoint Lodging will make a cash payment to La Quinta of approximately $984 million subject to certain adjustments based on the actual amount of net indebtedness of La Quinta (as of immediately prior to the effective time of the Spin) and certain accrued but unpaid expenses incurred in connection with the Spin and the Merger, immediately prior to and as a condition of the Spin. The consummation of the Merger is subject to the consummation of the Spin. On January 17, 2018, CorePoint Lodging received a binding commitment letter (the “Commitment Letter”) from JPMorgan Chase Bank, N.A. (“JPMorgan Chase Bank”) pursuant to which, and subject to the conditions set forth therein, JPMorgan Chase Bank committed to provide a secured mortgage and, in certain circumstances mezzanine credit facility, in an aggregate principal amount of $1.035 billion and a $50 million secured revolving credit facility. The ultimate funding by JPMorgan Chase Bank under the Commitment Letter is subject to certain customary conditions, including, but not limited to, receipt of financial information, delivery of customary documentation relating to CorePoint Lodging and its subsidiaries and consummation of the Spin and the Merger. 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, 2017, 2016 and 2015, which are included in our Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the “SEC”) on February 28, 2018. 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	3 Months Ended
	Mar. 31, 2018
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 the revenue from franchisees at the time the franchise agreement is signed and recognize the revenue in the period beginning with the hotel opening and through the initial term of the franchise contract. 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. A portion of room revenues related to loyalty program members is deferred upon receipt and recognized when the performance obligation is satisfied. 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 in the period beginning with the hotel opening and through the initial term of the franchise contract. • 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. For U.S. franchise agreements entered into on or after April 1, 2013, the Company collects a monthly royalty fee equal to 4.5% of gross room revenues until the franchisee has operated as a La Quinta for twenty-four consecutive months. . In these cases, the franchisee has the opportunity to earn the additional 0.5% back via rebate by achieving certain defined customer satisfaction results. Royalty fees are recognized on a gross basis in the accompanying condensed consolidated statements of operations. Any rebates of royalty fees are recognized as a reduction of revenue. Pursuant to the franchise agreements with the owned hotels and franchise agreements entered into with franchisees outside of the U.S. on or after April 1, 2013, the Company generally collects a monthly royalty fee equal to 4.5% of gross room revenues throughout the term and does not offer a rebate. • We receive reservation and technology fees 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. • We receive fees from franchisees related to our Returns loyalty program. These fees are deferred until the performance obligation to the Returns member is satisfied. 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 franchised hotels related to maintaining our Brand Marketing Fund (“BMF”). We maintain the BMF on behalf of all La Quinta branded hotel properties, including our owned hotels, from which national marketing and advertising campaign expenses are paid. Each La Quinta branded hotel is charged a percentage of its room revenue from which the expenses of the fund are covered. The corresponding expenditures of the BMF fees collected from franchised and managed hotels are presented as brand marketing fund expenses from franchised hotels in our condensed consolidated statements of operations, resulting in no net impact to operating income or net (loss) income. 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. Customer loyalty program— We administer Returns, which allows members to earn points based on certain dollars spent. Members may redeem points earned for free night certificates, gift cards, airline miles, and a variety of other awards. We account for the economic impact of points earned by accruing an estimate of the performance obligation for unredeemed points as deferred revenue. We estimate the value of the future performance obligation based upon historical experience, including an estimate of “breakage” for points that will never be redeemed. The estimate is based on a calculation that includes assumptions for the redemption rate, redemption type (whether for a free night certificate or other award), rate of redemption at Company-owned hotels versus franchised hotels and the number of points required per stay. The expenses of the Returns program are charged to marketing, promotional and other advertising expenses in the accompanying condensed consolidated statements of operations. As of March 31, 2018 and December 31, 2017, the total liability for Returns points was approximately $29.6 million and $18.9 million, respectively, of which $10.1 million and $6.5 million are included in accrued expenses and other liabilities, representing the estimated points expected to be redeemed in the next year. The remainder is included within other long-term liabilities in the accompanying consolidated balance sheets. Actual financial results of the Returns program may vary from our estimate due primarily to variances from assumptions used in the calculation of the obligation for future redemptions and changes in member behavior. These variances are accounted for as changes in estimates and are recorded as a component of revenue as they become known. 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, and management is actively seeking a buyer; • The asset is being actively marketed, at a price reasonable in relation to the current value; and • 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. The requisite service period is the period during which an employee is required to provide service for an award to vest. We recognize forfeitures as they occur. 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 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. On December 22, 2017, the Tax Cuts and Jobs Act (the “Tax Act”) was enacted into law and the new legislation contains several key tax provisions that affected us, including a reduction of the corporate income tax rate to 21% effective January 1, 2018, among others. We are required to recognize the effect of the tax law changes in the period of enactment, such as re-measuring our U.S. deferred tax assets and liabilities as well as reassessing the net realizability of our deferred tax assets and liabilities. In December 2017, the SEC staff issued Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act Newly Issued Accounting Standards In August 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. The purpose of this update is to better align a company’s risk management activities and financial reporting for hedging relationships, simplify the hedge accounting requirements, and improve the disclosure of hedging arrangements. ASU 2017-12 is effective for annual reporting periods, and interim periods beginning after December 31, 2018. Early adoption is permitted. We are currently evaluating the impact of this guidance on our consolidated financial position, results of operations and related disclosures. In June 2016, the FASB issued ASU 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. Historically, credit losses have not been material to the Company. We are currently evaluating the impact of this guidance on our financial position, results of operations and related disclosures but do not expect the implementation of this guidance to have a material impact on our consolidated financial position and results of operations. In February 2016, the FASB issued ASU 2016-02, Leases Newly Adopted Accounting Standards In March 2018, the FASB issued ASU 2018-05, Income Taxes (Topic 740) - Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118, which provides guidance from the SEC allowing for the recognition of provisional amounts in the financial statements for the year ended December 31, 2017 as a result of the Tax Act that was signed into law in December 2017. The guidance allows for a measurement period of up to one year from the enactment date to finalize the accounting related to the Tax Act. The Company has applied and continues to apply the guidance in this update within its financial statements for the year ended December 31, 2017. In February 2018, the FASB issued ASU 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220). The guidance in ASU 2018-02 allows an entity to elect to reclassify the stranded tax effects related to the Tax Act from accumulated other comprehensive income into retained earnings. The Company early adopted this guidance as of January 1, 2018, and recorded a $0.2 million adjustment to retained earnings for stranded tax effects related to our interest rate hedge. In May 2017, the FASB issued ASU 2017-09, Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting. This update clarifies the changes to terms or conditions of a share-based payment award that require an entity to apply modification accounting. ASU 2017-09 is effective for annual reporting periods, and interim periods therein, beginning after December 15, 2017. Early application is permitted and prospective application is required. We adopted on January 1, 2018 and it did not have a material effect on our financial statements. In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business, which provides guidance for evaluating whether certain transactions are to be accounted for as an acquisition (or disposal) of either a business or an asset. This standard is applied on a prospective basis. Early adoption is permitted for transactions occurring subsequent to the issuance of ASU 2017-01 and not reported in the financial statements. The guidance is effective for the interim and annual periods beginning after December 15, 2017, on a prospective basis, and earlier adoption is permitted for transactions occurring subsequent to the issuance of ASU 2017-01 and not reported in the financial statements. We adopted on January 1, 2018 and it did not have a material effect on our financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). La Quinta implemented ASU 2014-09, Revenue from Contracts with Customers (“ASC 606”) on January 1, 2018 using the modified retrospective method for open contracts. In accordance with this adoption method the prior period results will not be recast to reflect the new standard. We recorded a net reduction to opening retained earnings of approximately $14.9 million, net of tax, as of January 1, 2018 due to the cumulative impact of adopting ASC 606. Our operating results are impacted by ASC 606 in the following areas: 1) Revenue related to our La Quinta Returns loyalty program will be recognized upon point redemption as opposed to when points are issued. Also, as a sponsor of the loyalty program, any points issued for stays at owned hotels will be accounted for as a reduction in revenue from owned hotels as opposed to expense; and the portion of the service obligation expected to be fulfilled at owned hotels will be considered deferred revenue. 2) Application, initial and transfer fees charged when new franchised hotels enter our system or there is a change of ownership will be recognized over the term of the franchise contract, rather than primarily upon execution of the contract; 3) Certain customer acquisition costs in the form of commission expense will be deferred and recognized as part of general and administrative expense over the period of expected benefit; and 4) Certain customer acquisition costs in the form of key money incentives will continue to be recognized as a reduction in revenue. However, the term of amortization will change to the period of expected benefit, as opposed to the specific contractual term. The net impact to revenues for the quarter ended March 31, 2018 as a result of applying ASC 606 was approximately $0.5 million. The impact to expenses for the quarter ended March 31, 2018 was immaterial. Contract balances: With the transition to ASC 606, we recorded an increase to retained earnings of $4.6 million, net of tax, related to net contract acquisition costs related to commission expenses paid to employees. We established an asset of $7.1 million with accumulated amortization of $1.0 million through January 1, 2018. We also recorded a deferred liability tax $1.5 million as a result of this transition. As of March 31, 2018, the asset and accumulated amortization balances were $7.1 million and $1.0 million, respectively, and included within other non-current assets in the accompanying balance sheet. Additionally, we recorded an increase to retained earnings of $0.5 million, net of tax, related to the amortization of customer acquisition costs in the form of key money incentives. The value, net of accumulated amortization, increased from $4.5 million to $5.2 million as of January 1, 2018. As of March 31, 2018, this balance was $5.1 million and was included within other non-current assets in the accompanying balance sheet. Balances related to remaining performance obligations: With the transition to ASC 606, we recorded a decrease to retained earnings of $8.3 million, net of tax, related to our loyalty program. Additionally, we recorded a decrease in retained earnings related to initial and transfer fees of $11.7 million, net of tax. 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	3 Months Ended
	Mar. 31, 2018
Discontinued Operations And Disposal Groups [Abstract]
Assets Held for Sale	NOTE 3. ASSETS HELD FOR SALE As of December 31, 2017, three hotels 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 first quarter of 2018, one of these hotels was sold for $4.4 million, net of transaction costs, resulting in a gain of $0.5 million. The remaining two hotels are expected to be sold before the end of 2018. As of March 31, 2018 and December 31, 2017, the carrying amounts of the major classes of assets held for sale were as follows: March 31, 2018 December 31, 2017 (in thousands) Current assets $ 5 $ 33 Property and equipment, net 4,747 8,611 Other non-current assets 35 62 Total assets held for sale $ 4,787 $ 8,706

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2018
Property Plant And Equipment [Abstract]
Property and Equipment	NOTE 4. PROPERTY AND EQUIPMENT The following is a summary of property and equipment as of March 31, 2018 and December 31, 2017: March 31, 2018 December 31, 2017 (in thousands) Land $ 738,474 $ 738,760 Buildings and improvements 2,744,041 2,713,860 Furniture, fixtures, equipment and other 483,211 474,776 Total property and equipment 3,965,726 3,927,396 Less accumulated depreciation (1,536,360 ) (1,497,718 ) Property and equipment, net 2,429,366 2,429,678 Construction in progress 82,417 76,845 Total property and equipment, net of accumulated depreciation $ 2,511,783 $ 2,506,523 Depreciation and amortization expense related to property and equipment was $39.7 million and $36.0 million for the three months ended March 31, 2018 and 2017, respectively. Construction in progress includes capitalized costs for ongoing projects that have not yet been put into service.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Long-Term Debt	NOTE 5. LONG-TERM DEBT Long-term debt as of March 31, 2018 and December 31, 2017 was as follows: March 31, 2018 December 31, 2017 (in thousands) Current portion of long-term debt $ 17,514 $ 17,514 Long-term debt 1,667,476 1,670,447 Total long-term debt (1) $ 1,684,990 $ 1,687,961 (1) As of March 31, 2018 and December 31, 2017, the 30 day United States dollar London Interbank Offering Rate (“LIBOR”) was 1.88% and 1.56%, respectively. As of March 31, 2018, the interest rate, maturity date and principal payments on the Term Facility (as defined below) were as follows: • During the three months ended March 31, 2018, we made a quarterly scheduled principal payment of $4.4 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 decreased to LIBOR with a floor of 1.0% plus a spread of 2.75% for the period from August 1, 2015 to September 30, 2017. As of March 6, 2018, our first lien net leverage ratio was greater than 4.50 to 1.00, and as a result, the rate increased to LIBOR with a floor of 1.0% plus a spread of 3.0% for the period from March 6, 2018 to March 31, 2018. Included in the Term Facility as of March 31, 2018 and December 31, 2017 is an unamortized original issue discount of $4.9 million and $5.3 million, respectively. Included in the Term Facility, as of March 31, 2018 and December 31, 2017, is the deduction of debt issuance costs of $13.4 million and $14.4 million, respectively. As of March 31, 2018 and December 31, 2017, we had $16.8 million and $16.2 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 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. As of March 6, 2018, our consolidated first lien net leverage ratio was greater than 4.50, and as a result we realized a step-up of 0.25% as of 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. As of March 6, 2018, our consolidated first lien net leverage ratio was greater than 4.50, and as a result we realized a step-up in margin of 0.25% as of 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 is 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 March 31, 2018, we were in compliance with all applicable covenants under the Senior Facilities. Letters of Credit As of both March 31, 2018 and December 31, 2017, we had $14.4 million, in letters of credit obtained through our Revolving Facility. In 2014, 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%. 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, for a margin of 2.13%. As of March 6, 2018, our consolidated first lien net leverage ratio increased to greater than 4.50 to 1.00, and as a result we realized a step-up of 0.25% after that date for a margin of 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 months ended March 31, 2018 and 2017: For the Three Months Ended March 31, Description 2018 2017 (in thousands) Term Facility $ 20,328 $ 18,739 Amortization of deferred financing costs 1,030 999 Amortization of original issue discount 377 367 Other interest 8 3 Interest income (287 ) (128 ) Total interest expense, net $ 21,456 $ 19,980

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	3 Months Ended
	Mar. 31, 2018
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	NOTE 6. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES During the three months ended March 31, 2018 and 2017, 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: March 31, 2018 December 31, 2017 Balance Sheet Classification Fair Value Balance Sheet Classification Fair Value (in thousands) Cash Flow Hedges: Interest rate swap Other non- current assets $ 2,922 Other long- term liabilities $ 1,169 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 March 31, (Loss) Recognized 2018 2017 (in thousands) Cash Flow Hedges: Interest rate swap (1) Other gain $ 3,068 $ 1,778 (1)

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
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: March 31, 2018 December 31, 2017 Carrying Amount Fair Value Carrying Amount Fair Value (in thousands) Cash and cash equivalents (1) $ 113,486 $ 113,486 $ 140,849 $ 140,849 Interest rate swaps (2) 2,922 2,922 1,169 1,169 Long-term debt (3)(4) 1,684,990 1,692,758 1,687,961 1,705,592 (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 March 31, 2018 and December 31, 2017, 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. 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 rates to be approximately 4.9% and 4.2%, as of March 31, 2018 and December 31, 2017, 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. The following fair value hierarchy table presents information about assets measured at fair value on a nonrecurring basis and related impairment charges during the periods ended March 31, 2018 and 2017: March 31, 2018 Level 1 Level 2 Level 3 Total Fair Value (in thousands) Assets held for sale (1) $ — $ — $ 4,787 $ 4,787 $ — $ — $ 4,787 $ 4,787 (1) March 31, 2017 Level 1 Level 2 Level 3 Total Fair Value (in thousands) Assets held for sale (1) $ — $ — $ 9,048 $ 9,048 Owned hotels identified for possible sale (2) — — 227,816 227,816 $ — $ — $ 236,864 $ 236,864 (1) Assets held for sale include three hotels and a restaurant parcel designated as held for sale. During the first quarter of 2017 we added one additional hotel to held for sale. (2) During 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. These assets did not meet the classification as assets held for sale and the fair value estimate is considered to be Level 3 within the fair value measurement hierarchy. As of March 31, 2018, of the approximately 50 hotels identified for possible sale in the first quarter of 2016, we have sold five and one hotel is classified as an asset held for sale. Additional hotel sales In the third quarter of 2017, we entered into an agreement to sell one of our owned hotels, located in Morrisville, North Carolina. We classified this hotel as held for sale during the third quarter of 2017, and it was sold in the first quarter of 2018 for approximately $4.4 million, net of transaction costs, resulting in a gain of $0.5 million.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2018
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 stock, respectively. As of March 31, 2018, Blackstone beneficially owned 30.0% of Holdings’ shares of common stock outstanding. As of March 31, 2018 and December 31, 2017, approximately $81.6 million and $81.8 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 also purchase products and services from entities affiliated with or owned by Blackstone in the ordinary course of operating our business. The fees paid for these products and services were approximately $0.3 million and $0.6 million during the three months ended March 31, 2018 and 2017, respectively.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
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 — Three putative class action lawsuits were filed on March 8, 2018, March 9, 2018 and March 19, 2018, by purported stockholders of the Company in the United States District Court for the Northern District of Texas challenging the Merger. The lawsuits are styled Cunha v. La Quinta Holdings Inc., et al., Rosenblatt v. La Quinta Holdings, Inc., et al. and Bushansky v. La Quinta Holdings, Inc., et al (the “Actions”). All of these complaints allege violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934, as amended and Rule 14a-9 promulgated thereunder in connection with the Merger. The Rosenblatt complaint names the Company and its directors as defendants; the Cunha complaint names the Company and its directors as well as Merger Sub and Wyndham Worldwide; and the Bushansky complaint names the Company and its directors as defendants. The complaints allege that the proxy statement filed by the Company is materially incomplete and misleading. The complaints seek, among other relief, either an order enjoining the Merger or rescission if the Merger is consummated. The Bushansky complaint also seeks to enjoin the stockholder vote on the Merger. On April 16, 2018, the parties to the Actions (the “Settling Parties”) entered into the confidential Memorandum of Understanding providing for the settlement of the Actions. The Company believes that the lawsuits are without merit and that no further disclosure is required to supplement the proxy statement disclosed in the Company’s definitive merger proxy statement filed with the SEC on March 20, 2018 (as amended or supplemented from time to time, the “proxy statement”) under applicable laws; however, to eliminate the burden, expense and uncertainties inherent in such litigation, and without admitting any liability or wrongdoing, the Company has agreed, pursuant to the terms of the confidential Memorandum of Understanding, to make certain supplemental disclosures to the proxy statement. Nothing in these supplemental disclosures shall be deemed an admission of the legal necessity or materiality under applicable laws of any of the disclosures set forth therein. The defendants have vigorously denied, and continue vigorously to deny, that they have committed any violation of law or engaged in any of the wrongful acts that were alleged in the Actions. The confidential Memorandum of Understanding outlines the terms of the Settling Parties’ agreement in principle to settle and release all claims which were or could have been asserted in the Actions. 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 July 21, 2016, the court appointed lead plaintiff (“plaintiff”), and, on December 30, 2016, plaintiff filed the operative complaint on behalf of purchasers of the Company’s common stock from November 19, 2014 through February 24, 2016 (the “Class Period”) and on behalf of a subclass who purchased the Company’s common stock pursuant to the Company’s March 24, 2015 secondary public offering (the “March Secondary Offering”). 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 or omissions 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. On February 10, 2017, defendants filed a motion to dismiss the complaint. On August 24, 2017, the motion to dismiss was granted with prejudice. Subsequently, on September 20, 2017, plaintiff filed an appeal with the U.S. Court of Appeals for the Second Circuit. On December 29, 2017, plaintiff submitted its appellant brief. Appellate briefing is scheduled to be completed in May 2018. 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, as amended (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 IRS Appeals and provided to us on August 18, 2015, we submitted responses dated September 3, 2015 and October 1, 2015. Our most recent meeting with the IRS Appeals Office team occurred on January 25, 2017. In November 2017, IRS Appeals returned the matter to IRS Examination for further factual development. 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 March 31, 2018, we have not established any reserves related to this proposed adjustment or any other issues reflected on the returns under examination. If, however, we are unsuccessful in challenging the IRS, an excise tax would be imposed on the REIT equal to 100% of the excess rent and we could owe additional income taxes, interest and penalties, which could adversely affect our financial condition, results of operations and cash flow and the price of our common stock. Such adjustments could also give rise to additional state income taxes. 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. We have received several draft notices of proposed adjustment proposing a transfer-pricing related assessment of approximately $18 million for 2013 and adjustments to our net operating losses for the years 2006 through 2009. The IRS has since indicated that it will not pursue the transfer-pricing adjustment. On August 8, 2017, the IRS issued a 30-Day Letter, in which it is proposed to disallow net operating loss carryovers originating in tax years 2006-2011 or, in the alternative, tax years 2006-2009, depending upon the outcome of the 2010-2011 examination discussed above. On September 26, 2017, we furnished a timely protest to the IRS exam team. They have since indicated that they intend to furnish a rebuttal to our protest, at which time the matter will be referred to the IRS Appeals Office. Based on our analysis of the NOL notice, we believe the IRS NOL disallowances applied in the 2012-2013 audit contain the same flaws present in the 2010-2011 audit and that the IRS proposed NOL 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 March 31, 2018, we have not established any reserves related to this proposed adjustment or any other issues reflected on the returns under examination. On November 1, 2016, the IRS notified the Company that it intended to audit the tax return of one of its subsidiaries, Lodge Holdco II L.L.C., for the short taxable year ended April 13, 2014. In March 2018, the examination was closed on a “no change” basis. Purchase Commitments — As of March 31, 2018, we had approximately $31.1 million of purchase commitments 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 March 31, 2018, we had $29.6 million in outstanding commitments owed to various franchisees for such financial assistance.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 10. INCOME TAXES The Company recorded a provision for federal, state and foreign income tax benefit of approximately $1.9 million and income tax expense of $2.3 million for the three months ended March 31, 2018 and 2017, respectively. The provision for the three month periods ended March 31, 2018 and 2017, differs from the statutory federal tax rates of 21% and 35%, respectively, primarily due to the impact of state income taxes and the impact of certain costs relating to the pending separation of our franchise and management business from our owned real estate assets that are not deductible for income tax purposes.

Equity-Based Compensation

Equity-Based Compensation	3 Months Ended
	Mar. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Equity-Based Compensation	NOTE 11. 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 months ended March 31, 2018 and 2017, we recognized equity-based compensation expense of $3.1 million and $3.9 million, respectively, excluding related taxes. Unrecognized compensation expense as of March 31, 2018 was $12.4 million, which is expected to be recognized over a weighted-average period of 1.3 years. As of March 31, 2018, there were 10.6 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. No equity awards were issued during the three month period ended March 31, 2018.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Earnings Per Share	NOTE 12. EARNINGS PER SHARE Basic (loss) earnings per share is computed by dividing net (loss) income available to common stockholders by the weighted average number of shares of common stock outstanding. Diluted (loss) earnings per share is computed by dividing net (loss) income available to common stockholders by the weighted average number of shares of the Company’s common stock outstanding plus other potentially dilutive securities. Dilutive securities include equity-based awards issued under long-term incentive plans. The calculations of basic and diluted (loss) earnings per share are as follows: For the Three Months Ended March 31, 2018 2017 (in thousands, except per share data) Numerator: Net (loss) income attributable to La Quinta Holdings’ stockholders $ (15,139 ) $ 1,589 Denominator: Weighted average number of shares outstanding, basic 116,324 115,936 Weighted average number of shares outstanding, diluted 116,324 116,368 Basic and diluted (loss) earnings per share $ (0.13 ) $ 0.01 For the three month periods ended March 31, 2018 and 2017, approximately 0.1 million shares and 0.7 million shares, respectively, were excluded from the computation of diluted shares, as their impact would have been anti-dilutive.

Segments

Segments	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segments	NOTE 13. 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 income (loss) (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 months ended March 31, 2018 and 2017: For the Three Months Ended March 31, 2018 2017 (in thousands) Revenues Owned Hotels $ 197,555 $ 205,635 Franchise and management (1) 27,180 26,714 Segment revenues 224,735 232,349 Other fee-based revenues from franchise properties 6,397 5,754 Corporate and other (2) 28,206 28,783 Intersegment elimination (3) (30,558 ) (32,614 ) Total revenues $ 228,780 $ 234,272 Adjusted EBITDA Owned Hotels $ 49,247 $ 58,721 Franchise and management 27,180 26,714 Segment Adjusted EBITDA 76,427 85,435 Corporate and other (12,415 ) (13,485 ) Adjusted EBITDA $ 64,012 $ 71,950 (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 $15.7 million and $16.7 million for the three month periods ended March 31, 2018 and 2017, 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 $30.6 million and $32.6 million for the three month periods ended March 31, 2018 and 2017, 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 net (loss) income attributable to La Quinta Holdings’ stockholders to EBITDA and EBITDA to Adjusted EBITDA for the three month periods ended March 31, 2018 and 2017. Adjusted EBITDA and EBITDA should not be considered an alternative to net (loss) income or other measures of financial performance or liquidity derived in accordance with GAAP: For the Three Months Ended March 31, 2018 2017 (in thousands) Net (loss) income attributable to La Quinta Holdings’ stockholders $ (15,139 ) $ 1,589 Interest expense 21,744 20,108 Income tax (benefit) expense (1,927 ) 2,290 Depreciation and amortization 39,893 36,257 Noncontrolling interests 71 89 EBITDA 44,642 60,333 (Gain) loss on sales (498 ) 138 Gain related to casualty disasters (928 ) (1,928 ) Equity-based compensation 2,365 3,943 Amortization of software service agreements 2,467 2,359 Retention plan (1) 2,484 2,550 Reorganization costs (1) 9,894 2,143 Other losses, net (2) 3,586 2,412 Adjusted EBITDA $ 64,012 $ 71,950 (1) Included cash and non-cash charges associate with the Spin and Merger. (2) Other losses, net consists of net 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), IRS legal defense costs and litigation reserve adjustments. The following table presents assets for our reportable segments, reconciled to consolidated amounts as of March 31, 2018 and December 31, 2017: March 31, 2018 December 31, 2017 (in thousands) Total Assets Owned Hotels $ 2,556,234 $ 2,550,064 Franchise and management 207,476 201,548 Total segments assets 2,763,710 2,751,612 Corporate and other 183,569 201,484 Total $ 2,947,279 $ 2,953,096 The following table presents capital expenditures for our reportable segments, reconciled to our consolidated amounts for the three months ended March 31, 2018 and 2017: For the Three Months Ended March 31, 2018 2017 Capital Expenditures Owned Hotels $ 37,287 $ 41,432 Franchise and management — — Total segment capital expenditures 37,287 41,432 Corporate and other 2,884 $ 4,746 Total $ 40,171 $ 46,178

Significant Accounting Polici21

Significant Accounting Policies and Recently Issued Accounting Standards (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Revenue Recognition	Revenue Recognition — Revenues primarily consist of room rentals, franchise fees and other hotel revenues. We defer the revenue from franchisees at the time the franchise agreement is signed and recognize the revenue in the period beginning with the hotel opening and through the initial term of the franchise contract. 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. A portion of room revenues related to loyalty program members is deferred upon receipt and recognized when the performance obligation is satisfied. 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 in the period beginning with the hotel opening and through the initial term of the franchise contract. • 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. For U.S. franchise agreements entered into on or after April 1, 2013, the Company collects a monthly royalty fee equal to 4.5% of gross room revenues until the franchisee has operated as a La Quinta for twenty-four consecutive months. . In these cases, the franchisee has the opportunity to earn the additional 0.5% back via rebate by achieving certain defined customer satisfaction results. Royalty fees are recognized on a gross basis in the accompanying condensed consolidated statements of operations. Any rebates of royalty fees are recognized as a reduction of revenue. Pursuant to the franchise agreements with the owned hotels and franchise agreements entered into with franchisees outside of the U.S. on or after April 1, 2013, the Company generally collects a monthly royalty fee equal to 4.5% of gross room revenues throughout the term and does not offer a rebate. • We receive reservation and technology fees 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. • We receive fees from franchisees related to our Returns loyalty program. These fees are deferred until the performance obligation to the Returns member is satisfied. 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 franchised hotels related to maintaining our Brand Marketing Fund (“BMF”). We maintain the BMF on behalf of all La Quinta branded hotel properties, including our owned hotels, from which national marketing and advertising campaign expenses are paid. Each La Quinta branded hotel is charged a percentage of its room revenue from which the expenses of the fund are covered. The corresponding expenditures of the BMF fees collected from franchised and managed hotels are presented as brand marketing fund expenses from franchised hotels in our condensed consolidated statements of operations, resulting in no net impact to operating income or net (loss) income. 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.
Customer loyalty program	Customer loyalty program— We administer Returns, which allows members to earn points based on certain dollars spent. Members may redeem points earned for free night certificates, gift cards, airline miles, and a variety of other awards. We account for the economic impact of points earned by accruing an estimate of the performance obligation for unredeemed points as deferred revenue. We estimate the value of the future performance obligation based upon historical experience, including an estimate of “breakage” for points that will never be redeemed. The estimate is based on a calculation that includes assumptions for the redemption rate, redemption type (whether for a free night certificate or other award), rate of redemption at Company-owned hotels versus franchised hotels and the number of points required per stay. The expenses of the Returns program are charged to marketing, promotional and other advertising expenses in the accompanying condensed consolidated statements of operations. As of March 31, 2018 and December 31, 2017, the total liability for Returns points was approximately $29.6 million and $18.9 million, respectively, of which $10.1 million and $6.5 million are included in accrued expenses and other liabilities, representing the estimated points expected to be redeemed in the next year. The remainder is included within other long-term liabilities in the accompanying consolidated balance sheets. Actual financial results of the Returns program may vary from our estimate due primarily to variances from assumptions used in the calculation of the obligation for future redemptions and changes in member behavior. These variances are accounted for as changes in estimates and are recorded as a component of revenue as they become known.
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, and management is actively seeking a buyer; • The asset is being actively marketed, at a price reasonable in relation to the current value; and • 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. The requisite service period is the period during which an employee is required to provide service for an award to vest. We recognize forfeitures as they occur. 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 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. On December 22, 2017, the Tax Cuts and Jobs Act (the “Tax Act”) was enacted into law and the new legislation contains several key tax provisions that affected us, including a reduction of the corporate income tax rate to 21% effective January 1, 2018, among others. We are required to recognize the effect of the tax law changes in the period of enactment, such as re-measuring our U.S. deferred tax assets and liabilities as well as reassessing the net realizability of our deferred tax assets and liabilities. In December 2017, the SEC staff issued Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act
Newly Issued and Adopted Accounting Standards	Newly Issued Accounting Standards In August 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. The purpose of this update is to better align a company’s risk management activities and financial reporting for hedging relationships, simplify the hedge accounting requirements, and improve the disclosure of hedging arrangements. ASU 2017-12 is effective for annual reporting periods, and interim periods beginning after December 31, 2018. Early adoption is permitted. We are currently evaluating the impact of this guidance on our consolidated financial position, results of operations and related disclosures. In June 2016, the FASB issued ASU 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. Historically, credit losses have not been material to the Company. We are currently evaluating the impact of this guidance on our financial position, results of operations and related disclosures but do not expect the implementation of this guidance to have a material impact on our consolidated financial position and results of operations. In February 2016, the FASB issued ASU 2016-02, Leases Newly Adopted Accounting Standards In March 2018, the FASB issued ASU 2018-05, Income Taxes (Topic 740) - Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118, which provides guidance from the SEC allowing for the recognition of provisional amounts in the financial statements for the year ended December 31, 2017 as a result of the Tax Act that was signed into law in December 2017. The guidance allows for a measurement period of up to one year from the enactment date to finalize the accounting related to the Tax Act. The Company has applied and continues to apply the guidance in this update within its financial statements for the year ended December 31, 2017. In February 2018, the FASB issued ASU 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220). The guidance in ASU 2018-02 allows an entity to elect to reclassify the stranded tax effects related to the Tax Act from accumulated other comprehensive income into retained earnings. The Company early adopted this guidance as of January 1, 2018, and recorded a $0.2 million adjustment to retained earnings for stranded tax effects related to our interest rate hedge. In May 2017, the FASB issued ASU 2017-09, Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting. This update clarifies the changes to terms or conditions of a share-based payment award that require an entity to apply modification accounting. ASU 2017-09 is effective for annual reporting periods, and interim periods therein, beginning after December 15, 2017. Early application is permitted and prospective application is required. We adopted on January 1, 2018 and it did not have a material effect on our financial statements. In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business, which provides guidance for evaluating whether certain transactions are to be accounted for as an acquisition (or disposal) of either a business or an asset. This standard is applied on a prospective basis. Early adoption is permitted for transactions occurring subsequent to the issuance of ASU 2017-01 and not reported in the financial statements. The guidance is effective for the interim and annual periods beginning after December 15, 2017, on a prospective basis, and earlier adoption is permitted for transactions occurring subsequent to the issuance of ASU 2017-01 and not reported in the financial statements. We adopted on January 1, 2018 and it did not have a material effect on our financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). La Quinta implemented ASU 2014-09, Revenue from Contracts with Customers (“ASC 606”) on January 1, 2018 using the modified retrospective method for open contracts. In accordance with this adoption method the prior period results will not be recast to reflect the new standard. We recorded a net reduction to opening retained earnings of approximately $14.9 million, net of tax, as of January 1, 2018 due to the cumulative impact of adopting ASC 606. Our operating results are impacted by ASC 606 in the following areas: 1) Revenue related to our La Quinta Returns loyalty program will be recognized upon point redemption as opposed to when points are issued. Also, as a sponsor of the loyalty program, any points issued for stays at owned hotels will be accounted for as a reduction in revenue from owned hotels as opposed to expense; and the portion of the service obligation expected to be fulfilled at owned hotels will be considered deferred revenue. 2) Application, initial and transfer fees charged when new franchised hotels enter our system or there is a change of ownership will be recognized over the term of the franchise contract, rather than primarily upon execution of the contract; 3) Certain customer acquisition costs in the form of commission expense will be deferred and recognized as part of general and administrative expense over the period of expected benefit; and 4) Certain customer acquisition costs in the form of key money incentives will continue to be recognized as a reduction in revenue. However, the term of amortization will change to the period of expected benefit, as opposed to the specific contractual term. The net impact to revenues for the quarter ended March 31, 2018 as a result of applying ASC 606 was approximately $0.5 million. The impact to expenses for the quarter ended March 31, 2018 was immaterial. Contract balances: With the transition to ASC 606, we recorded an increase to retained earnings of $4.6 million, net of tax, related to net contract acquisition costs related to commission expenses paid to employees. We established an asset of $7.1 million with accumulated amortization of $1.0 million through January 1, 2018. We also recorded a deferred liability tax $1.5 million as a result of this transition. As of March 31, 2018, the asset and accumulated amortization balances were $7.1 million and $1.0 million, respectively, and included within other non-current assets in the accompanying balance sheet. Additionally, we recorded an increase to retained earnings of $0.5 million, net of tax, related to the amortization of customer acquisition costs in the form of key money incentives. The value, net of accumulated amortization, increased from $4.5 million to $5.2 million as of January 1, 2018. As of March 31, 2018, this balance was $5.1 million and was included within other non-current assets in the accompanying balance sheet. Balances related to remaining performance obligations: With the transition to ASC 606, we recorded a decrease to retained earnings of $8.3 million, net of tax, related to our loyalty program. Additionally, we recorded a decrease in retained earnings related to initial and transfer fees of $11.7 million, net of tax. 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 Pre22

Organization and Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Summary of Hotels Owned, Franchised and Number of Associated Rooms	As of March 31, 2018 and 2017, total owned and franchised hotels, and the approximate number of associated rooms, were as follows: March 31, 2018 March 31, 2017 # of hotels # of rooms # of hotels # of rooms Owned (1) 315 40,300 318 40,700 Joint Venture 1 200 1 200 Franchised 591 48,300 570 46,500 Totals 907 88,800 889 87,400 (1)

Assets Held for Sale (Tables)

Assets Held for Sale (Tables)	3 Months Ended
	Mar. 31, 2018
Discontinued Operations And Disposal Groups [Abstract]
Major Classes of Assets as Held for Sale	As of March 31, 2018 and December 31, 2017, the carrying amounts of the major classes of assets held for sale were as follows: March 31, 2018 December 31, 2017 (in thousands) Current assets $ 5 $ 33 Property and equipment, net 4,747 8,611 Other non-current assets 35 62 Total assets held for sale $ 4,787 $ 8,706

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2018
Property Plant And Equipment [Abstract]
Summary of Property and Equipment	The following is a summary of property and equipment as of March 31, 2018 and December 31, 2017: March 31, 2018 December 31, 2017 (in thousands) Land $ 738,474 $ 738,760 Buildings and improvements 2,744,041 2,713,860 Furniture, fixtures, equipment and other 483,211 474,776 Total property and equipment 3,965,726 3,927,396 Less accumulated depreciation (1,536,360 ) (1,497,718 ) Property and equipment, net 2,429,366 2,429,678 Construction in progress 82,417 76,845 Total property and equipment, net of accumulated depreciation $ 2,511,783 $ 2,506,523

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt as of March 31, 2018 and December 31, 2017 was as follows: March 31, 2018 December 31, 2017 (in thousands) Current portion of long-term debt $ 17,514 $ 17,514 Long-term debt 1,667,476 1,670,447 Total long-term debt (1) $ 1,684,990 $ 1,687,961 (1) As of March 31, 2018 and December 31, 2017, the 30 day United States dollar London Interbank Offering Rate (“LIBOR”) was 1.88% and 1.56%, respectively. As of March 31, 2018, the interest rate, maturity date and principal payments on the Term Facility (as defined below) were as follows: • During the three months ended March 31, 2018, we made a quarterly scheduled principal payment of $4.4 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 decreased to LIBOR with a floor of 1.0% plus a spread of 2.75% for the period from August 1, 2015 to September 30, 2017. As of March 6, 2018, our first lien net leverage ratio was greater than 4.50 to 1.00, and as a result, the rate increased to LIBOR with a floor of 1.0% plus a spread of 3.0% for the period from March 6, 2018 to March 31, 2018. Included in the Term Facility as of March 31, 2018 and December 31, 2017 is an unamortized original issue discount of $4.9 million and $5.3 million, respectively. Included in the Term Facility, as of March 31, 2018 and December 31, 2017, is the deduction of debt issuance costs of $13.4 million and $14.4 million, respectively. As of March 31, 2018 and December 31, 2017, we had $16.8 million and $16.2 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 months ended March 31, 2018 and 2017: For the Three Months Ended March 31, Description 2018 2017 (in thousands) Term Facility $ 20,328 $ 18,739 Amortization of deferred financing costs 1,030 999 Amortization of original issue discount 377 367 Other interest 8 3 Interest income (287 ) (128 ) Total interest expense, net $ 21,456 $ 19,980

Derivative Instruments and He26

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2018
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: March 31, 2018 December 31, 2017 Balance Sheet Classification Fair Value Balance Sheet Classification Fair Value (in thousands) Cash Flow Hedges: Interest rate swap Other non- current assets $ 2,922 Other long- term liabilities $ 1,169
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 March 31, (Loss) Recognized 2018 2017 (in thousands) Cash Flow Hedges: Interest rate swap (1) Other gain $ 3,068 $ 1,778 (1)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
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: March 31, 2018 December 31, 2017 Carrying Amount Fair Value Carrying Amount Fair Value (in thousands) Cash and cash equivalents (1) $ 113,486 $ 113,486 $ 140,849 $ 140,849 Interest rate swaps (2) 2,922 2,922 1,169 1,169 Long-term debt (3)(4) 1,684,990 1,692,758 1,687,961 1,705,592 (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 and related impairment charges during the periods ended March 31, 2018 and 2017: March 31, 2018 Level 1 Level 2 Level 3 Total Fair Value (in thousands) Assets held for sale (1) $ — $ — $ 4,787 $ 4,787 $ — $ — $ 4,787 $ 4,787 (1) March 31, 2017 Level 1 Level 2 Level 3 Total Fair Value (in thousands) Assets held for sale (1) $ — $ — $ 9,048 $ 9,048 Owned hotels identified for possible sale (2) — — 227,816 227,816 $ — $ — $ 236,864 $ 236,864 (1) Assets held for sale include three hotels and a restaurant parcel designated as held for sale. During the first quarter of 2017 we added one additional hotel to held for sale. (2) During 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. These assets did not meet the classification as assets held for sale and the fair value estimate is considered to be Level 3 within the fair value measurement hierarchy. As of March 31, 2018, of the approximately 50 hotels identified for possible sale in the first quarter of 2016, we have sold five and one hotel is classified as an asset held for sale.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2018
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 March 31, 2018 2017 (in thousands, except per share data) Numerator: Net (loss) income attributable to La Quinta Holdings’ stockholders $ (15,139 ) $ 1,589 Denominator: Weighted average number of shares outstanding, basic 116,324 115,936 Weighted average number of shares outstanding, diluted 116,324 116,368 Basic and diluted (loss) earnings per share $ (0.13 ) $ 0.01

Segments (Tables)

Segments (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Summarized Consolidated Financial Information by Segment	The table below shows summarized consolidated financial information by segment for the three months ended March 31, 2018 and 2017: For the Three Months Ended March 31, 2018 2017 (in thousands) Revenues Owned Hotels $ 197,555 $ 205,635 Franchise and management (1) 27,180 26,714 Segment revenues 224,735 232,349 Other fee-based revenues from franchise properties 6,397 5,754 Corporate and other (2) 28,206 28,783 Intersegment elimination (3) (30,558 ) (32,614 ) Total revenues $ 228,780 $ 234,272 Adjusted EBITDA Owned Hotels $ 49,247 $ 58,721 Franchise and management 27,180 26,714 Segment Adjusted EBITDA 76,427 85,435 Corporate and other (12,415 ) (13,485 ) Adjusted EBITDA $ 64,012 $ 71,950 (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 $15.7 million and $16.7 million for the three month periods ended March 31, 2018 and 2017, 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 $30.6 million and $32.6 million for the three month periods ended March 31, 2018 and 2017, respectively. These fees are charged to owned hotels and are eliminated in the accompanying condensed consolidated financial statements.
Reconciliation of Net (Loss) Income Attributable to Company to EBITDA and EBITDA to Adjusted EBITDA	The table below provides a reconciliation of net (loss) income attributable to La Quinta Holdings’ stockholders to EBITDA and EBITDA to Adjusted EBITDA for the three month periods ended March 31, 2018 and 2017. Adjusted EBITDA and EBITDA should not be considered an alternative to net (loss) income or other measures of financial performance or liquidity derived in accordance with GAAP: For the Three Months Ended March 31, 2018 2017 (in thousands) Net (loss) income attributable to La Quinta Holdings’ stockholders $ (15,139 ) $ 1,589 Interest expense 21,744 20,108 Income tax (benefit) expense (1,927 ) 2,290 Depreciation and amortization 39,893 36,257 Noncontrolling interests 71 89 EBITDA 44,642 60,333 (Gain) loss on sales (498 ) 138 Gain related to casualty disasters (928 ) (1,928 ) Equity-based compensation 2,365 3,943 Amortization of software service agreements 2,467 2,359 Retention plan (1) 2,484 2,550 Reorganization costs (1) 9,894 2,143 Other losses, net (2) 3,586 2,412 Adjusted EBITDA $ 64,012 $ 71,950 (1) Included cash and non-cash charges associate with the Spin and Merger. (2) Other losses, net consists of net 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), IRS legal defense costs and litigation reserve adjustments.
Reconciliation of Assets for Reportable Segments to Consolidated Amounts	The following table presents assets for our reportable segments, reconciled to consolidated amounts as of March 31, 2018 and December 31, 2017: March 31, 2018 December 31, 2017 (in thousands) Total Assets Owned Hotels $ 2,556,234 $ 2,550,064 Franchise and management 207,476 201,548 Total segments assets 2,763,710 2,751,612 Corporate and other 183,569 201,484 Total $ 2,947,279 $ 2,953,096
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 three months ended March 31, 2018 and 2017: For the Three Months Ended March 31, 2018 2017 Capital Expenditures Owned Hotels $ 37,287 $ 41,432 Franchise and management — — Total segment capital expenditures 37,287 41,432 Corporate and other 2,884 $ 4,746 Total $ 40,171 $ 46,178

Organization and Basis of Pre30

Organization and Basis of Presentation - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	Apr. 14, 2014	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Organization And Basis Of Presentation [Line Items]
Common Stock, par value			$ 0.01	$ 0.01
La Quinta Holdings Inc. and Wyndham Worldwide Merger Agreement [Member] | Scenario Forecast [Member]
Organization And Basis Of Presentation [Line Items]
Disposal group including discontinued operation, cash consideration		$ 1,950
Common Stock, par value		$ 0.02
Disposal group including discontinued operation, sale price per share		$ 16.80
Disposal group including discontinued operation, consideration, repayment of debt		$ 715
Disposal group including discontinued operation, reserve for estimated taxes		240
Merger and separation agreement of cash payment		984
La Quinta Holdings Inc. and Wyndham Worldwide Merger Agreement [Member] | Scenario Forecast [Member] | JPMorgan Chase Bank [Member] | Secured Mortgage [Member]
Organization And Basis Of Presentation [Line Items]
Aggregate principal amount of debt		1,035
La Quinta Holdings Inc. and Wyndham Worldwide Merger Agreement [Member] | Scenario Forecast [Member] | JPMorgan Chase Bank [Member] | Secured Revolving Credit Facility [Member]
Organization And Basis Of Presentation [Line Items]
Aggregate principal amount of debt		$ 50
IPO [Member]
Organization And Basis Of Presentation [Line Items]
Initial public offering, issued and sold	44

Organization and Basis of Pre31

Organization and Basis of Presentation - Summary of Hotels Owned, Franchised and Number of Associated Rooms (Detail)	Mar. 31, 2018HotelRoom	Mar. 31, 2017HotelRoom
Real Estate Properties [Line Items]
Number of hotels | Hotel	907	889
Number of rooms | Room	88,800	87,400
Owned [Member]
Real Estate Properties [Line Items]
Number of hotels | Hotel	315	318
Number of rooms | Room	40,300	40,700
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	591	570
Number of rooms | Room	48,300	46,500

Organization and Basis of Pre32

Organization and Basis of Presentation - Summary of Hotels Owned, Franchised, and Number of Associated Rooms (Parenthetical) (Detail) - Hotel	3 Months Ended			12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of hotels held for sale	2	3	1	3

Significant Accounting Polici33

Significant Accounting Policies and Recently Issued Accounting Standards - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Jan. 01, 2018	Dec. 31, 2017
Summary Of Significant Accounting Policies [Line Items]
Liability for returns points, customer loyalty program	$ 29,600,000			$ 18,900,000
Liability for returns points, customer loyalty program, current	$ 10,100,000			$ 6,500,000
Corporate income tax rate	21.00%	35.00%
Loyalty Programs [Member]
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue	$ 29,600,000
Initial and Transfer Fees [Member]
Summary Of Significant Accounting Policies [Line Items]
Decrease in retained earnings			$ (11,700,000)
Deferred revenue	16,400,000		16,500,000
Deferred tax assets			3,900,000
Deferred revenue transition impact			15,600,000
Other-Noncurrent Assets [Member] | Sales Commission [Member]
Summary Of Significant Accounting Policies [Line Items]
Contract acquisition costs, gross	7,100,000
Contract acquisition costs, accumulated amortization	1,000
Accrued Expenses and Other Liabilities [Member] | Loyalty Programs [Member]
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue	10,100,000
Other Long-Term Liabilities [Member] | Loyalty Programs [Member]
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue	19,500,000
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Other-Noncurrent Assets [Member] | Customer Acquisition Costs
Summary Of Significant Accounting Policies [Line Items]
Customer acquisition costs, net of amortization	5,100,000
Calculated under Revenue Guidance in Effect before Topic 606 | Initial and Transfer Fees [Member]
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue			900,000
ASU 2018-02 [Member]
Summary Of Significant Accounting Policies [Line Items]
Tax cuts and jobs act, reclassification from AOCI to retained earnings, tax effect	200,000
Accounting Standards Update 2014-09 [Member] | Loyalty Programs [Member]
Summary Of Significant Accounting Policies [Line Items]
Decrease in retained earnings			(8,300,000)
Deferred revenue			29,900,000
Deferred tax assets			2,700,000
Deferred revenue transition impact			11,000,000
Accounting Standards Update 2014-09 [Member] | Sales Commission [Member]
Summary Of Significant Accounting Policies [Line Items]
Contract acquisition costs, gross			7,100,000
Increase to retained earnings related to net contract acquisition costs			4,600
Contract acquisition costs, accumulated amortization			1,000
Deferred liability tax			1,500
Accounting Standards Update 2014-09 [Member] | Customer Acquisition Costs
Summary Of Significant Accounting Policies [Line Items]
Increase to retained earnings related to customer acquisition costs			500,000
Customer acquisition costs, net of amortization			5,200,000
Accounting Standards Update 2014-09 [Member] | Accrued Expenses and Other Liabilities [Member] | Loyalty Programs [Member]
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue			10,300,000
Accounting Standards Update 2014-09 [Member] | Other Long-Term Liabilities [Member] | Loyalty Programs [Member]
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue			19,600,000
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
Summary Of Significant Accounting Policies [Line Items]
Decrease in retained earnings			(14,900,000)
Impact to revenues	$ 500,000
Accounting Standards Update 2014-09 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Customer Acquisition Costs
Summary Of Significant Accounting Policies [Line Items]
Customer acquisition costs, net of amortization			4,500,000
Accounting Standards Update 2014-09 [Member] | Calculated under Revenue Guidance in Effect before Topic 606 | Loyalty Programs [Member]
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue			18,900,000
Accounting Standards Update 2014-09 [Member] | Calculated under Revenue Guidance in Effect before Topic 606 | Accrued Expenses and Other Liabilities [Member] | Loyalty Programs [Member]
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue			6,500,000
Accounting Standards Update 2014-09 [Member] | Calculated under Revenue Guidance in Effect before Topic 606 | Other Long-Term Liabilities [Member] | Loyalty Programs [Member]
Summary Of Significant Accounting Policies [Line Items]
Deferred revenue			$ 12,400,000
Franchise Agreements Prior to April 1, 2013 [Member]
Summary Of Significant Accounting Policies [Line Items]
Royalty fee	4.00%
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%
Increase in royalty fee	0.50%
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	3 Months Ended			12 Months Ended
	Mar. 31, 2018USD ($)Hotel	Mar. 31, 2017USD ($)	Mar. 31, 2016Hotel	Dec. 31, 2017Hotel
Asset Retirement Obligation Disclosure [Abstract]
Number of hotels classified as assets held for sale | Hotel				3
Number of hotels sold | Hotel	1		5
Proceeds from sale of hotel | $	$ 4,447	$ 22,011
Gain on sale of hotels | $	$ 500

Assets Held for Sale - Major Cl

Assets Held for Sale - Major Classes of Assets as Held for Sale (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Asset Retirement Obligation Disclosure [Abstract]
Current assets	$ 5	$ 33
Property and equipment, net	4,747	8,611
Other non-current assets	35	62
Total assets held for sale	$ 4,787	$ 8,706

Property and Equipment - Summar

Property and Equipment - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 3,965,726	$ 3,927,396
Less accumulated depreciation	(1,536,360)	(1,497,718)
Property and equipment, net	2,429,366	2,429,678
Construction in progress	82,417	76,845
Total property and equipment, net of accumulated depreciation	2,511,783	2,506,523
Land [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	738,474	738,760
Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	2,744,041	2,713,860
Furniture, Fixtures, Equipment and Other [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 483,211	$ 474,776

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Property Plant And Equipment [Abstract]
Depreciation and amortization expense	$ 39.7	$ 36

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
Current portion of long-term debt	$ 17,514	$ 17,514
Long-term debt	1,667,476	1,670,447
Total long-term debt	$ 1,684,990	$ 1,687,961

Long-Term Debt - Schedule of 39

Long-Term Debt - Schedule of Long-Term Debt (Parenthetical) (Detail) $ in Millions	Mar. 06, 2018	Jul. 31, 2015	Apr. 14, 2014	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)
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	4.50
Term Facility [Member]
Debt Instrument [Line Items]
Quarterly principal payments				$ 4.4
Debt instrument, basis spread on variable rate	3.00%	3.00%
First lien net leverage ratio, description				first lien net leverage ratio was greater than 4.50 to 1.00
First lien net leverage ratio	4.50
Unamortized long-term debt reduction				$ 4.9	$ 5.3
Debt issuance costs net				13.4	14.4
Accrued interest				$ 16.8	$ 16.2
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		4.50
LIBOR [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate				1.88%	1.56%
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%	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 ($)	Sep. 30, 2014	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2014	Mar. 06, 2018
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					4.50
Step-up rate								0.25%
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%	0.25%
First lien net leverage ratio	4.50	5						4.50
Step-up rate								0.25%
Proceeds from letters of credit					$ 14,400,000	$ 14,400,000
Percentage of fee on letter of credit		2.38%					2.63%
Step-down margin	2.13%
Step-up margin								2.38%
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
	Mar. 31, 2018	Mar. 31, 2017
Interest Expense [Line Items]
Other interest	$ 8	$ 3
Interest income	(287)	(128)
Total interest expense, net	21,456	19,980
Term Facility [Member]
Interest Expense [Line Items]
Interest expense	20,328	18,739
Amortization of deferred financing costs	1,030	999
Amortization of original issue discount	$ 377	$ 367

Derivative Instruments and He42

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 He43

Derivative Instruments and Hedging Activities - Effects of Fair Value of Derivative Instruments in Condensed Consolidated Balance Sheets (Detail) - Interest Rate Swap [Member] - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Other-Noncurrent Assets [Member]
Derivatives, Fair Value [Line Items]
Cash Flow Hedge Derivative Instrument at Fair Value	$ 2,922
Other Long-Term Liabilities [Member]
Derivatives, Fair Value [Line Items]
Cash Flow Hedge Derivative Instrument at Fair Value		$ 1,169

Derivative Instruments and He44

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
	Mar. 31, 2018	Mar. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Classification of Gain (Loss) Recognized	$ 3,068	$ 1,778
Cash Flow Hedges [Member] | Interest Rate Swap [Member] | Other Comprehensive Gain [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Classification of Gain (Loss) Recognized	$ 3,068	$ 1,778

Derivative Instruments and He45

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
	Mar. 31, 2018	Mar. 31, 2017
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Amounts recognized in earnings related to hedge ineffectiveness	$ 0	$ 0

Fair Value Measurements - Carry

Fair Value Measurements - Carrying Amount and Estimated Fair Values of Financial Assets and Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Cash and cash equivalents, carrying amount	$ 113,486	$ 140,849	$ 161,495	$ 160,596
Interest rate swaps, carrying amount	2,922	1,169
Long-term debt, carrying amount	1,684,990	1,687,961
Cash and cash equivalents, fair value	113,486	140,849
Interest rate swaps, fair value	2,922	1,169
Long-term debt, fair value	$ 1,692,758	$ 1,705,592

Fair Value Measurements - Car47

Fair Value Measurements - Carrying Amount and Estimated Fair Values of Financial Assets and Liabilities (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Term Facility [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt issuance cost net	$ 13.4	$ 14.4

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) $ in Thousands	3 Months Ended			12 Months Ended
	Mar. 31, 2018USD ($)	Sep. 30, 2017Hotel	Mar. 31, 2017USD ($)	Dec. 31, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Proceeds from sale of assets	$ 4,447		$ 22,011
Gain on sale of assets	498		$ (138)
1 Owned Hotel [Member] | North Carolina [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of wholly owned hotels agreed to sell | Hotel		1
Proceeds from sale of assets	4,400
Gain on sale of assets	$ 500
Long-term Debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Discount rates	4.90%			4.20%

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	Mar. 31, 2018	Mar. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets held for use	$ 4,787	$ 236,864
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	4,787	9,048
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		227,816
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets held for use	4,787	236,864
Level 3 [Member] | 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	$ 4,787	9,048
Level 3 [Member] | 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		$ 227,816

Fair Value Measurements - Sch50

Fair Value Measurements - Schedule of Fair Value of Assets Measured on Non-recurring Basis and Related Impairment Charges (Parenthetical) (Detail)	3 Months Ended			12 Months Ended
	Mar. 31, 2018Hotel	Mar. 31, 2017HotelRestaurant	Mar. 31, 2016Hotel	Dec. 31, 2017Hotel
Fair Value Disclosures [Abstract]
Number of hotels held for sale	2	3	1	3
Number of hotels sold	1		5
Number of restaurants parcel held for sale | Restaurant		1
Number of additional hotels held for sale		1
Number of hotels impaired			50

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) shares in Thousands, $ in Millions	1 Months Ended		3 Months Ended
	Apr. 30, 2015	Nov. 30, 2014	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	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			$ 0.3	$ 0.6
Blackstone [Member]
Related Party Transaction [Line Items]
Percentage of holdings' shares of common stock outstanding			30.00%
Blackstone [Member] | Secondary Offering [Member]
Related Party Transaction [Line Items]
Shares of holdings common shares	23,900	23,000
Affiliates of Black Stone [Member] | Senior Secured Term Loan Facility [Member]
Related Party Transaction [Line Items]
Senior secured credit facility			$ 81.6		$ 81.8

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	Jul. 07, 2014	Mar. 31, 2018
Commitments And Contingencies [Line Items]
Purchase commitments		$ 31.1
Outstanding commitments owed to various franchisees		$ 29.6
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%
Percentage of excise tax would be imposed on real estate investment trust equal to excess rent		100.00%
Internal Revenue Service (IRS) [Member] | Tax Year 2013 [Member]
Commitments And Contingencies [Line Items]
Proposed adjustment to transfer-pricing related assessment		$ 18

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Provision for federal, state and foreign income tax expense (benefit)	$ (1.9)	$ 2.3
Income tax federal statutory rate	21.00%	35.00%

Equity-Based Compensation - Add

Equity-Based Compensation - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Equity-based compensation expense recognized	$ 3.1	$ 3.9
Unrecognized compensation expense	$ 12.4
Weighted average period of recognition for unrecognized compensation expense	1 year 3 months 18 days
Equity awards issued	0
2014 Omnibus Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share reserved for purchase	10,600,000

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
	Mar. 31, 2018	Mar. 31, 2017
Numerator:
Net (loss) income attributable to La Quinta Holdings’ stockholders	$ (15,139)	$ 1,589
Denominator:
Weighted average number of shares outstanding, basic	116,324	115,936
Weighted average number of shares outstanding, diluted	116,324	116,368
Basic and diluted (loss) earnings per share	$ (0.13)	$ 0.01

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Anti-dilutive securities excluded from computation of diluted shares	0.1	0.7

Segments - Summarized Consolida

Segments - Summarized Consolidated Financial Information by Segment (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Information [Line Items]
Revenues	$ 228,780	$ 234,272
Revenues	6,397	5,754
Adjusted EBITDA	64,012	71,950
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	224,735	232,349
Adjusted EBITDA	76,427	85,435
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Revenues	28,206	28,783
Adjusted EBITDA	(12,415)	(13,485)
Intersegment Elimination [Member]
Segment Reporting Information [Line Items]
Revenues	(30,558)	(32,614)
Owned Hotels [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	197,555	205,635
Adjusted EBITDA	49,247	58,721
Franchise and Management [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	27,180	26,714
Revenues	6,397	5,754
Adjusted EBITDA	$ 27,180	$ 26,714

Segments - Summarized Consoli58

Segments - Summarized Consolidated Financial Information by Segment (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
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	$ 15.7	$ 16.7
Fee charged to owned hotels	$ 30.6	$ 32.6

Segments - Reconciliation of Ne

Segments - Reconciliation of Net (Loss) Income Attributable to Company to EBITDA and EBITDA to Adjusted EBITDA (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting [Abstract]
Net (Loss) Income attributable to La Quinta Holdings’ stockholders	$ (15,139)	$ 1,589
Interest expense	21,744	20,108
Income tax (benefit) expense	(1,927)	2,290
Depreciation and amortization	39,893	36,257
Noncontrolling interests	71	89
EBITDA	44,642	60,333
(Gain) loss on sales	(498)	138
Gain related to casualty disasters	(928)	(1,928)
Equity-based compensation	2,365	3,943
Amortization of software service agreements	2,467	2,359
Retention plan	(2,484)	(2,550)
Reorganization costs	(9,894)	(2,143)
Other losses, net	3,586	2,412
Adjusted EBITDA	$ 64,012	$ 71,950

Segments - Reconciliation of As

Segments - Reconciliation of Assets for Reportable Segments to Consolidated Amounts (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 2,947,279	$ 2,953,096
Operating Segments [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	2,763,710	2,751,612
Operating Segments [Member] | Owned Hotels [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	2,556,234	2,550,064
Operating Segments [Member] | Franchise and Management [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	207,476	201,548
Corporate and Other [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 183,569	$ 201,484

Segments - Reconciliation of Ca

Segments - Reconciliation of Capital Expenditures for Reportable Segments to Consolidated Amounts (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures	$ 40,171	$ 46,178
Operating Segments [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures	37,287	41,432
Operating Segments [Member] | Owned Hotels [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures	37,287	41,432
Corporate and Other [Member]
Segment Reporting, Other Significant Reconciling Item [Line Items]
Capital Expenditures	$ 2,884	$ 4,746