La Quinta Reportedly Looks to Raise $100M in IPO
Tuesday February 11th, 2014 - 12:10PM W
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DALLAS—La Quinta Holdings Inc. has reportedly filed plans with the Securities and Exchange Commission to raise as much as $100 million in its IPO.
Private equity owner Blackstone, which took Extended Stay America and Hilton Worldwide public, purchased LQ Management, LLC—which includes the La Quinta Inns and La Quinta Inns & Suites brands—in 2006. Blackstone had reportedly received at least a half-dozen bids for the limited-service brand, according to the Wall Street Journal, before considering the IPO option.
Tags: La Quinta • IPO • Hospitality •
For the past few years, the talk of The Lodging Conference in Phoenix had been focused on the economic recovery, solid industry projections and “cautious optimism.” With the word cautious no longer necessary, the economic outlook took a backseat this year to the seemingly unending parade of new lifestyle brands.