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LA QUINTA MOTOR INNS REPORTS RESULTS FOR 1991

 LA QUINTA MOTOR INNS REPORTS RESULTS FOR 1991
 SAN ANTONIO, Texas, March 18 /PRNewswire/ -- La Quinta Motor Inns,


Inc. (NYSE: LQM) reported results today for the three and 12 month periods ended Dec. 31, 1991. Revenues improved in the fourth quarter of 1991 to $53,559,000 from $51,135,000 in last year's fourth quarter. For the 12 months, revenues improved to $242,506,000 from $227,775,000 in 1990. The revenue improvements resulted primarily from improvements in the average room rate. The average room rate in the fourth quarter of 1991 was $42.77, an increase of 5.4 percent from $40.56 in the fourth quarter of 1990. For the year, the average room rate increased 5.3 percent to $43.11 from $40.93 in 1990. The percentage of occupancy for the three and 12 month periods was slightly below the occupancy achieved in the comparable 1990 periods.
 The company's restructuring efforts impacted results in both the three and 12 month periods. The company reported a restructuring charge of $1,200,000 in the fourth quarter and $7,952,000 for the year compared with $503,000 in both the three and 12 month periods of 1990. Operating income (after restructuring charges) was $6,400,000 in the fourth quarter and $42,244,000 for the year compared with $3,512,000 and $43,488,000 in the comparable three and 12 month periods of 1990.
 Results for the year were impacted by net losses from property and investment transactions of $1,850,000 in the fourth quarter and $1,536,000 in the 12 month period. For the quarter, the company reported a net loss before extraordinary items of $2,035,000 or $.15 per share compared with a net loss before extraordinary items of $2,897,000 or $.22 per share in the fourth quarter of 1990. For the 12 months ended Dec. 31, 1991, net earnings before extraordinary items were $1,398,000 or $.11 per share compared with $2,175,000 or $.17 per share in 1990.
 Extraordinary losses resulting from the refinancing of certain high fixed interest rate debt were $448,000 in the fourth quarter and $1,269,000 for the year. The company reported a net loss of $2,483,000 or $.19 per share in the quarter and net earnings of $129,000 or $.01 per share for the 12 month period.
 LA QUINTA MOTOR INNS, INC.
 Selected Financial Data
 Periods ended: Three months Year
 Dec. 31: 1991 1990 1991 1990
 Revenues (000) $53,559 51,135 242,506 227,775
 Operating income (000) 6,400 3,512 42,244 43,488
 Net earnings (loss) before
 extraordinary items (000) (2,035) (2,897) 1,398 2,175
 Earnings (loss) per share
 before extraordinary items (.15) (.22) .11 .17
 Earnings (loss) after
 extraordinary items (000) (2,483) (2,897) 129 2,175
 Earnings (loss) per share
 after extraordinary items (.19) (.22) .01 .17
 Average room rate 42.77 40.56 43.11 40.93
 Percentage of occupancy
 (as a percent) 56.7 58.8 64.8 66.0
 At Dec. 31, 1991 La Quinta Motor Inns, Inc. owned, operated or licensed 212 limited services inns in 29 states.
 -0- 3/18/92
 /CONTACT: Kim Armstrong, vice president-treasurer of La Quinta Motor Inns, 512-366-6039/
 (LQM) CO: La Quinta Motor Inns, Inc. ST: Texas IN: LEI SU: ERN


TS -- NY029 -- 9166 03/18/92 10:57 EST
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Date:Mar 18, 1992
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