Dec 23 La Quinta Holdings Inc, a hotel chain
backed by Blackstone Group LP, said on Monday it had
confidentially filed with U.S. regulators for an initial public
offering of its common stock.
The company has filed with the U.S. Securities and Exchange
Commission under the controversial Jumpstart Our Business
Startups (JOBS) Act, which allows firms to submit registration
documents to the SEC away from public eyes.
Reuters reported earlier that Blackstone was seeking as much
as $4.5 billion for the La Quinta chain in an auction that
attracted interest from hospitality holding companies such as
Choice Hotels International Inc as well as private
With more than 830 hotels, La Quinta is one of the largest
owners and operators of budget hotels in the United States.
Blackstone took La Quinta private in 2006 in a $3.4 billion
The number of shares of common stock to be sold and the
price range for the proposed offering have not yet been
determined, the company said.