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La Quinta Announces Secondary Offering of 17,500,000 Shares of Common Stock

By: La Quinta by Wyndham |  0 Shares     132 Reads

IRVING, Texas - March 23, 2015 // PRNewswire // - La Quinta Holdings Inc. ("La Quinta" or the "Company") announced today that certain selling stockholders affiliated with The Blackstone Group L.P. have commenced a secondary offering of 17,500,000 shares of La Quinta common stock. The underwriters will have a 30-day option to purchase up to an additional 2,625,000 shares of common stock from the selling stockholders.

La Quinta is not offering any shares of common stock in the offering and will not receive any proceeds from the sale of shares in this offering.

J.P. Morgan and Morgan Stanley are serving as representatives of the underwriters and joint book-running managers for the offering. BofA Merrill Lynch, Citigroup, Credit Suisse, Deutsche Bank Securities, Goldman, Sachs & Co. and Wells Fargo Securities are also acting as joint book-running managers for the offering. EA Markets, Evercore ISI, JMP Securities, Lebenthal Capital Markets, Loop Capital Markets, Mischler Financial Group, Inc., Ramirez & Co., Inc., Raymond James, RBC Capital Markets and Stifel are acting as co-managers for the offering. The offering of these securities is being made only by means of a prospectus. Copies of the preliminary prospectus can be obtained from:

J.P. Morgan Securities LLC	Morgan Stanley
Attention: Broadridge Financial Solutions	Attention: Prospectus Department
1155 Long Island Avenue	180 Varick Street, 2nd Floor
Edgewood, New York 11717	New York, NY 10014
Telephone: 1-866-803-9204

A registration statement relating to the securities has been filed with the SEC, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time that the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About La Quinta

La Quinta Holdings Inc. (NYSE: LQ) is a leading owner, operator and franchisor of select-service hotels primarily serving the upper-midscale and midscale segments. The Company's owned and franchised portfolio consists of more than 860 La Quinta Inn & Suites™ and La Quinta Inn™ branded hotels representing over 86,000 rooms located in 47 states, as well as in Canada and Mexico. La Quinta's team is committed to providing guests with a refreshing and engaging experience.

Forward-Looking Statements

Certain statements made in this press release may constitute "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are based on management's expectations, beliefs, estimates and projections. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual results may differ materially from what is forecast in forward-looking statements due to a variety of factors. Additional information regarding these factors is contained or incorporated by reference in the Company's registration statement on Form S-1 filed with the Securities and Exchange Commission on March 12, 2015, as amended to date. The Company disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release.

SOURCE La Quinta Holdings Inc.

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