Seeking Alpha

Third Blackstone hotel chain takes another step to IPO

  • La Quinta Holdings has filed to raise up to $100M in an IPO, putting the hotel chain on course to become the third such Blackstone (BX) portfolio company to list its shares.
  • La Quinta, which Blackstone bought for $3B in 2006, initially filed for an IPO under the JOBS Act in December.
  • In its latest filing, La Quinta didn't say how many shares it would sell, nor at what price. The company manages over 830 mid-price, limited-service hotels with about 80,000 rooms in the U.S., Canada and Mexico.
  • La Quinta's flotation would follow those of other Blackstone companies Hilton Worldwide and Extended Stay, both of which enjoyed strong demand. (S-1)
  • ETF: IPO
Comments (1)
  • mostserene1
    , contributor
    Comments (3370) | Send Message
     
    Excellent news. Long BX and buying more. Great dividend yield.
    11 Feb 2014, 10:20 AM Reply Like
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