New CFO and SVP of Marketing Appointed to Drive Strategic Initiatives
Company Press Release
June 21, 2000
DALLAS, TX -- La Quinta® Inns, Inc. announced yesterday that David L. Rea, newly appointed chief financial
officer of The Meditrust Companies, will also assume the role of chief financial officer of La Quinta Inns, Inc.
and that Stephen T. Parker has been appointed senior vice president of marketing.
These additions solidify the management team, providing the company additional depth and strategic vision as La
Quinta continues to leverage the power of its brand to reinvigorate market share.
Mr. Rea will use his finance and accounting expertise earned at publicly traded hotel and real estate companies
to coordinate the financial operations of La Quinta Inns with that of parent company Meditrust. Mr. Rea replaces
Bill McCalmont who is leaving the organization to pursue other professional opportunities.
In his new position, Mr. Parker will work closely with Butch Cash, the company's CEO, and the existing sales and
marketing teams to expand La Quinta's market reach, brand awareness and grow RevPAR. Mr. Parker will take responsibility
for the company's sales, marketing, advertising, and Returns Club, La Quinta's loyalty program.
``Our strategy to gain market share and expand the reach of the La Quinta brand requires a management team deep
in strategy and experience,'' said Butch Cash, president and CEO for La Quinta Inns, Inc. ``We are fortunate to
be able to recruit two seasoned executives with the proven ability and energy to help accomplish our aggressive
goals.''
David L. Rea brings to La Quinta more than 14 years of accounting and financial experience. His most recent position
was chief financial officer for SingleSourceIT.com and immediately prior to that position he acted as executive
vice president, chief financial officer and treasurer for Red Roof Inns, Inc. Mr. Rea was also vice president of
finance for DeBartolo Realty Corporation, a publicly traded REIT.
Stephen T. Parker has over 30 years of marketing experience in the hospitality and leisure industries. Most recently,
Mr. Parker acted as senior vice president of marketing at Red Roof Inns, Inc. of Hilliard, Ohio where he directed
the company's sales, marketing and communications operations. Prior to his position at Red Roof Inns, Mr. Parker
was vice president of marketing for Choice Hotels International and chief operating officer of Clarion Hotel Corporation.
About La Quinta Inns, Inc.
Dallas-based La Quinta Inns, Inc. owns and operates 231 Inns and 70 Inn & Suites in 28 states. La Quinta is
the lodging division of The Meditrust Companies (NYSE:MT), a real estate investment trust. For more information
about La Quinta, please visit its Web site at www.laquinta.com. Other news
about The Meditrust Companies is available at www.reit.com.
--------------------------------------------------------------------------------
Contact:
Edelman Public Relations
Kelly Schulz/Glen Orr, 214/520-3555
kelly_schulz@edelman.com
glen_orr@edelman.com