Simpson Thacher is advising La Quinta Holdings Inc. on its previously announced plan to spin off its real estate business into a publicly traded real estate investment trust (REIT), which will be named Corepoint Lodging Inc. Affiliates of Blackstone Group LP own approximately 30% of La Quinta’s common stock.
La Quinta (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 885 hotels, representing approximately 87,500 rooms located in 48 states, as well as in Canada and Mexico, Honduras and Columbia.
The Simpson Thacher team includes Edgar Lewandowski, Lia Toback, Ben Heriaud and Jonathan Zane (Capital Markets); Eric Swedenburg and Elizabeth Romefelt (M&A); Sas Mehrara, Whitney Salinas, Jason Mohr and Brittany Baclawski (Real Estate); John Hart, Michael Badain and Brian Mendick (Tax); Brian Gluck and Lauren Sullivan (Credit); David Rubinsky and Jeannine McSweeney (ECEB); and Amanda Weiss (Public Company Advisory Practice).