EXHIBIT 21 SUBSIDIARIES OF LA QUINTA INNS, INC. ("THE COMPANY") AS OF JANUARY 31, 1997 The Company has eight (8) active wholly-owned corporate subsidiaries which are: 1. La Quinta Financial Corporation, a Texas corporation; 2. La Quinta Realty Corp., a Texas corporation; 3. La Quinta Investments, Inc., a Delaware corporation; 4. LQI Acquisition Corporation, a Delaware corporation; 5. La Quinta Plaza, a Texas corporation; 6. La Quinta Inns de Mexico S.A. de C.V., a Mexico corporation; 7. La Quinta Inns of Lubbock, Inc., a Texas Corporation; and 8. La Quinta Inns, Inc. of Puerto Rico, Inc. a Delaware corporation. The following are wholly-owned partnerships of the Company as of January 31, 1997. La Quinta Development Partners, L.P. LQ-LNL Limited Partnership LQM Operating Partners, L.P. La Quinta Denver-Peoria Street, Ltd. LQ-Big Apple Joint Venture LQ-East Irvine Joint Venture La Quinta Motor Inns, Limited Partnership LQ Investments I LQ Investments II La Quinta - San Antonio South Joint Venture LQ Motor Inn Venture - Austin No. 530 The following are unincorporated partnerships and joint ventures (general and limited partnerships) of the Company as of January 31, 1997. Percentage of Ownership of Entity the Company ------ ------------- La Quinta-Wichita, Kansas No. 532, Ltd. 50% LQ-West Bank Joint Venture 1982 60% The Company is the sole general partner or managing partner of all of the partnerships listed above.