Blackstone affiliate to acquire La Quinta for $34B

DALLAS -- La Quinta Corp. agreed to be acquired by an affiliate of the Blackstone Group in a cash and debt transaction valued at $34 billion.

Subject to stockholder and other approvals, the parties expect to close the deal in the first quarter.

Dallas-based La Quinta has a portfolio of some 600 hotels under the La Quinta, Baymont, Woodfield Suites and Budgetel bands, about 240 of which are franchised.

The deal is the latest in a series of hotel-related transactions for Blackstone, a private investment firm that owns Boca Resorts and Extended Stay America and which recently sold the Wyndham brand to Cendant.

To contact the reporter who wrote this article, send e-mail to [email protected].

Comments

From Our Partners

2020 American Queen Victory Webinar
Selling America’s Waterways for 2021!
Watch Now
Abu Dhabi Specialist Program hero
Abu Dhabi Specialist Program
Read More
2020 FLITR Webinar
Strength in Community: A Future Leaders in Travel Retreat Preview
Register Now

JDS Travel News JDS Viewpoints JDS Africa/MI