Effective November 25, 2014, Mitesh B. Shah was appointed Chairman of the Board of Directors of La Quinta Holdings Inc. In addition, effective November 25, 2014, Giovanni Cutaia (Senior Managing Director and Chief Operating Officer of Asset Management in the real estate group at The Blackstone Group L.P.) and Brian Kim (Managing Director in the real estate group at The Blackstone Group L.P.) were elected to the Board of Directors of the company to fill the vacancies left by the previously announced resignations of William J. Stein and Jonathan D. Gray. Further, effective November 25, 2014, Messrs. Cutaia and Shah will serve as members, and Mr. Sumers as chair, of the compensation committee of the Board of Directors.