Search
 

Blackstone's La Quinta Eyes $780M IPO

IRVING, TX—Expected to price next month, the public offering will be the Blackstone Group's third in the lodging sector in six months.

By Paul Bubny | Updated on March 27, 2014

IRVING, TX—Select-service hotel operator La Quinta Holdings, taken private in a $3.4-billion acquisition eight years ago, said in an SEC filing Thursday that it expects to raise as much as $780 million from an initial public offering. It will be the Blackstone Group‘s third hotel IPO in six months.

La Quinta plans to sell 37.2 million shares at $18 to $21 per share, with an option for the underwriters to acquire up to 5.58 million additional shares. The company will have an equity valuation of $2.57 billion at the top of the IPO’s expected price range, according to Reuters, which reported that La Quinta is expected to price the offering on April 8.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.