A day after admitting La Quinta wouldn’t hold a national conference in 2010 because it wouldn’t be prudent in these economic times, CEO Wayne Goldberg made sure this year’s version would be one to remember. The opening session Monday at the Hilton Hawaiian Village Beach Resort & Spa in Oahu began with a video production of Goldberg landing a helicopter in the mountains of Hawaii, then climbing out and walking directly on stage through a waterfall-like screen and ended with an attempt at breaking the Guinness World Record for the largest ukulele ensemble ever.

And in between there was plenty of fun mixed with serious, somber with comedy and even a handful of executives wearing wet bathing suits, mostly all to the cheers of nearly 1,000 attendees.

The theme was  “Bigger, Brighter, Faster, Stronger” and Goldberg proudly pointed out how La Quinta became all of the above. From 2003 to 2008, LQ got bigger with 385 locations becoming 708 (and another 244 in the pipeline). New marketing programs—“Wake Up On the Bright Side”—website and capital improvements brightened brand awareness and individual properties. A $12-million investment in IT last year made the brand faster, and the strength came from growth in EBITDA (up 8.5 percent from a year ago), RevPAR index (up 3.9 percent) and in guest satisfaction scores (up 3.2 percent).

Goldberg admitted 2008 was not only the best of times, but also the worst as the global economy and consumer confidence simultaneously melted down. In 2000, 99 percent of La Quinta properties were corporate owned (now 50 percent are) and 59 percent had exterior corridors (at year’s end only 19 percent will). Thirty-three percent of properties then were LQ Inn & Suites, now 81 percent are. La Quinta’s ability to change would propel it through the tough times ahead, Goldberg said.

“We are prepared to weather the storm regardless of how hard the wind might blow,” he told a jubilant crowd. “We have an excellent capital structure, have absolutely no performance-based covenants, no near-term debt maturities that would force us to be reactive. Today we are fully funding all operating costs out of cash flow and based on our revenue model, provided we continue, there is almost no scenario we don’t cover our operating costs, meet all financial obligations, continue to invest capital in our business and still have positive cash flow.”

In addition to the serious, there was plenty of fun. Executive Vice President of Franchising Raj Trivedi stepped onto stage soaking wet and in a bathing suit after a video mockup showing him surfing, as did Angelo Lombardi, COO, after a similar production of him cliff jumping. Chief Marketing Officer Julie Cary did not step through the waterfall after a video of her waterskiing, but she was wearing a wetsuit.

Trivedi talked of franchise growth, the first new prototype to open this year and a multi-franchise deal nearing completion in Panama. Cary introduced edgy new radio and TV spots that began running yesterday (breaking wind and air-sickness bags apparently aren’t taboo for LQ). Lombardi’s focus was on the brand’s reinvestment in its product.

The Blackstone Group, the huge investment firm that bought La Quinta in 2005, was not in attendance due to scheduling conflicts, but Jon Gray, senior managing director, said via video from New York City that his firm was “proud to be associated with La Quinta” and it stood behind the company.

The session closed with local ukulele legend Kelly Delima Ohana leading the crowd in a rendition of “La Quinta,” played to the music of La Bamba, as local TV and newspaper reporters covered the spectacle. Everyone in the audience, armed with their own ukuleles left on their seats by La Quinta, played for 60 seconds and afterward signed forms to attest to their participation, both requirements by Guinness.

The national conference concludes Wednesday morning after several breakout sessions and seminars over the next two days.