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.
stockholder and other approvals, the parties expect to close the
deal in the first quarter.
Quinta has a portfolio of some 600 hotels under the La Quinta,
Baymont, Woodfield Suites and Budgetel bands, about 240 of which
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
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