Blackstone-backed La Quinta files for US IPO

[NEW YORK] La Quinta Holdings Inc, the Blackstone Group LP-backed midpriced hotel chain, has filed to raise US$100 million in an initial public offering in the US.

The figure is a placeholder used to calculate fees and may change. JPMorgan Chase & Co and Morgan Stanley are managing the offering, according to a regulatory filing on Monday with the US Securities and Exchange Commission. La Quinta didn't specify the number of shares being sold or a price range.

Blackstone has taken hotel companies Hilton Worldwide Holdings Inc and Extended Stay America Inc public, both of which have increased since their debuts late last year. La Quinta, based in Irving, Texas, said in December that it had filed a prospectus confidentially under the Jumpstart Our Business Startups Act.