La Quinta Inns & Suites has attracted interest from a number of potential suitors that could value the Blackstone Group LP -owned budget hotel chain at as much as $4.5 billion, three sources with knowledge of the matter said this week.
Firms that are looking at La Quinta include hospitality holding companies Choice Hotels International Inc and Hospitality Properties Trust, as well as private equity firm Apollo Global Management LLC, the sources said.
First-round bids for La Quinta are due next week, two of the sources said.
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