Exclusive: Blackstone’s La Quinta attracts buyout interest – sources

by Matt Kaludi | Tuesday, Oct 1, 2013 | 1738 views

Exclusive Blackstone La Quinta attracts buyout interest sourcesLa Quinta Inn is a chain of limited service hotels in the United States, Canada and Mexico. LQ Management LLC, the owner, has its headquarters in the Las Colinas area of Irving, Texas, near Dallas.

All properties are owned or franchised by the company’s subsidiary La Quinta Properties, Inc., a real estate investment trust (REIT), which leases the properties back to the parent company. The company owns and operates over 700 properties and franchises approximately 295 under the various brand names.

La Quinta competes in the limited-service, mid-priced hotel segment, along with AmericInn Hotels, Comfort Inn, Baymont Inn & Suites, Fairfield Inn, Country Inns & Suites, and Hampton Inn. This means that there is usually no on-site dining on the premises. Most La Quinta Inns are built with Spanish or Southern architecture, although with the rapid expansion of the brand, this is quickly changing; in particular the conversion of a lot of the former Budgetel Inns to La Quinta has diluted the southern roots of the architecture. A free “Bright Side” deluxe continental breakfast bar is offered at the majority of locations, and swimming pools are available at most of them as well.

La Quinta is Spanish for “the fifth,” but it can also mean “the country place

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