La Quinta Holdings announced that certain selling stockholders affiliated with The Blackstone Group have commenced a secondary offering of 17,500,000 shares of La Quinta common stock. According to a news release, the underwriters will have a 30-day option to purchase up to an additional 2,625,000 shares of common stock from the selling stockholders. La Quinta stated it is not offering any shares of common stock in the offering and will not receive any proceeds.
