NEW YORK (Reuters) - Blackstone Group LP
Blackstone has hired JPMorgan Chase & Co
Blackstone declined to comment while representatives of La Quinta, JPMorgan and Morgan Stanley did not immediately respond to requests for comment.
Since Blackstone took La Quinta private in 2006 in a $3.4 billion deal, it has focused on growing the brand through additional franchise locations as well as the acquisition of more assets.
With more than 550 hotels in 39 states, La Quinta is one of the largest owners and operators of budget service hotels in the United States.
The Wall Street Journal earlier reported on Blackstone hiring banks to explore a sale of La Quinta.
(Reporting by Greg Roumeliotis in New York; Editing by Gerald E. McCormick)