Blackstone Files for La Quinta IPO

    Following the successful and lucrative initial public offering for Hilton Worldwide, Blackstone has officially filed with the SEC to take La Quinta public.

    According to this article from the Wall Street Journal, La Quinta Holdings has announced plans to raise as much as $100 million with its IPO. The move comes after Blackstone looked into the potential sale of the limited service hotel company back in November of last year.

    Blackstone acquired La Quinta in 2006 for $2.3 billion and invested hundreds of millions of dollars to upgrade the portfolio. The brand has more than 800 hotel properties in the U.S., Canada, and Mexico.

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    The filing did not reveal which stock exchange La Quinta will be listed on, or the number of shares expected to be available.

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