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Shares of hotel operator La Quinta (LQ) were climbing over 10% during the final hour of trading on Monday after Reuters reported that the firm is preparing to explore a sale.

La Quinta is the Irving, TX.-based owner, operator and franchiser of select-service hotels chiefly serving the midscale and upper-midscale sectors under the La Quinta brand.

As of last December, its portfolio consisted of 888 hotels serving approximately 87,200 rooms located primarily across 48 states in the U.S., as well as in Canada, Mexico, Honduras and Colombia, of which 322 hotels were owned and operated, and 566 were franchised.

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