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The Blackstone Group L.P. Message Board

  • adspatz adspatz Dec 26, 2013 11:42 AM Flag

    La Quinta confidentially registers for IPO

    Search for "SEC Live Filings Digest" to find out more.
    The Blackstone Group LP (BX) is planning an IPO of La Quinta Holdings, in a move that marks Blackstone’s third IPO of a hotel chain in just a couple short months. The registration statement, filed confidentially with the SEC, does not disclose the price range or number shares to be offered. The private equity firm purchased La Quinta for $3.4B in 2005 and is looking to offload its hotel companies amidst a comeback in the hospitality industry and a bullish stock market. The hotel chain operates in over 800 locations in North America and plans to grow another 150 locations as it eyes a total 1000 hotels. La Quinta, and a few other companies that have filed for IPOs in recent months, have utilized the 2012 Jumpstart Our Business Startups Act that allows companies to file IPO registrations confidentially in the beginning stages.

 
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