IRVING, TX-La Quinta Holdings Inc.,headquartered here, said it had confidentially submitted a draftregistration statement on Form S-1 to the SEC for an IPO of commonstock. The move follows the successful public debuts of two otherlodging companies under the umbrella of the Blackstone Group,Hilton Worldwide and Extended Stay America.

Bloomberg reported that La Quinta made the filing under theJumpstart Our Business Startups, or JOBS Act, which allowscompanies with less than $1 billion in revenue to keep applicationsconfidential until shortly before the offering is promoted. LaQuinta said the number of shares of common stock to be sold and theprice range for the proposed offering has not yet beendetermined.

La Quinta operates more than 800 midprice, limited-servicehotels with about 80,000 rooms in the US, Canada and Mexico. ItsIPO is expected to commence after the SEC completes its reviewprocess, subject to market and other conditions.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
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.

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.