La Quinta Holdings To Separate Into Two Stand-Alone Publicly Traded Companies
La Quinta Holdings Inc. (NYSE: LQ) today announced that the Company is pursuing the separation of its businesses into two stand-alone publicly traded companies, which could involve spinning off our owned real estate assets as a separate company.
There is no assurance that the separation of the Company's business will occur. The Company will disclose further developments during the process once it has decided on any specific transaction or has otherwise determined that further disclosure is required or appropriate.
J.P. Morgan is acting as financial advisor to the Company and Simpson Thacher & Bartlett LLP is serving as legal advisor to the Company.
About La Quinta
La Quinta Holdings Inc. (NYSE: LQ) is a leading owner, operator and franchisor of select-service hotels primarily serving the midscale and upper-midscale segments. The Company's owned and franchised portfolio consists of more than 830 La Quinta Inn & Suites™ and La Quinta Inn™ branded hotels representing approximately 84,000 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. For more information, please visit: www.LQ.com