Blackstone Decides to Extend Stay After La Quinta IPO

Now watching

Next video starts in : 7 Play

Blackstone Decides to Extend Stay After La Quinta IPO

Blackstone Decides to Extend Stay After La Quinta IPO
Replay video
Up next

June jobs report: There's good news in there

Unlock your personal NFL Now stream by signing in to NFL.com

Blackstone Decides to Extend Stay After La Quinta IPO

by TheStreet.com Videos 3:00 mins

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.

View Comments (0)