Blackstone Group, fresh off the initial public offering bonanza of Hilton Worldwide, is trying its hand again in the IPO of La Quinta Holdings, a more down-market hotel chain the private equity giant appears to believe can continue to close a pricing gap between midscale hotel operators like Best Western and Ramada. La Quinta’s IPO will contrast to the Hilton offering, as Hilton Worldwide was expressed to investors as having transitioned to one of fastest growing hotel operators in the industry under Blackstone’s roof. By contrast, language in La Quinta’s filing indicates the company may be more of a work in progress.
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