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La Quinta files to raise $780M in IPO

Mar 27, 2014 - The Deal Pipeline

Hotel operator La Quinta Holdings Inc. filed Thursday to raise up to $780 million in an initial public offering, the third hotel IPO offered by private equity giant Blackstone Group LP in recent months.

Irving, Texas-based La Quinta is an owner, operator and franchisor of hotels, with a portfolio of 834 hotels with 84,000 rooms spread across 46 states as of Dec. 31. The company owns 357 of those hotels, and said it has a pipeline of 187 additional franchised hotels to be located in the U.S...