Blackstone Decides to Extend Stay After La Quinta IPO

La Quinta's initial public offering priced below its plan at $17 and began trading at $16.75, but investors quickly pushed the price higher. Private equity firm Blackstone is holding onto its shares instead of selling, showing its faith in the company. CEO Wayne Goldberg tells TheStreet's Debra Borchardt that the company promotes loyalty to its brand in order to differentiate itself in the crowded hotel field. He feels this helps fight the commoditization of hotel rooms.