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La Quindy Crush
Oops. Another day, another failed IPO. Private equity group Blackstone's darling La Quinta IPO'd at $17 last night raising $650 million (at a multiple of 47 times last year's earnings). This was already below the low end of the range ($18 to $21) but this morning's open shows it seems the 'public' is not buying the hyper-growth story anymore....
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Sorry, stopped staying their two years ago. Many of their hotels are old and falling apart. I'm a Marriot guy now.
Bearish continental breakfast bars ?
More dogshit IPOs.
Markets are getting desperate.
http://www.liquidmatrix.org/blog/wp-content/uploads/2012/01/davechappell...
Another tribe member who knows timing is everything. La Quinta CEO - wayne b. goldberg.
http://www.lq.com/lq/about/mediakit/bios/
Looks like I'll be supporting some other hotel chain.
They're called "walkers"...
They stiffed me on a reservation once long ago. I will never, ever consider staying there again.
La Quinta? More like Dirty Sanchez.
Comment of the Day
Olé!
What's a "Quandy"?
Isn't that the Australian Airline?
Love that Dirty Sanchez whether tequila or rodka
Motel 6 with a breakfast bar.
who buys this crap? crooked fund managers?
Yep. Their glued to the Wall Street media pumpers.
Lots of "managed" clients who have no idea they now own this POS. I couldn't believe what Wells Fargo was doing to a relative of mine until I put a stop to it and got her money out of there.
I stayed there once about 10 years ago in Dallas. Learned my lesson. I like Hampton.
Who the hell buys a motel at 47x earnings?????
Same folks that buy AMZN.
calpers will buy it
Marriot management will soon make so much money front running their stock rooms will be discounted:
http://pando.com/2014/04/08/revealed-rahm-emanuels-top-donor-bought-stoc...
I wish I could sell my business for 47 times earnings. Granted, that still wouldn't be all that much money, but still!
The single greatest optimism there is in the world is that there is always a greater fool willing to pay more than you.
Around here dingy motels become "emergency" shelters, pre section 8 housing, half way and parole, and for low end working stiffs that can't scrape the 3 grand and credit check for a rental. In other words a great and growing Amerken customer base.
Forward!
Can you pay for hotel rooms with your EBT card? If so, bullish for motel 6.
What decent EBTer has but one card? Please. Yous can't live on one card!
Forward!
You just described Extended Stay America and the $XXX Weekly value place.
Although I heard the $XXX Weekly Value Place is almost like a brothel. As long as you're fine putting on six condoms you can get laid all night long. I'm pretty sure meth flows from the faucets.
I remember La Qunita being a lower end motel chain in the early 1980s. Getting its IPO to trade above 40x more than 30 years later is some Goldman Sachs level magic. Some muppets are losing their eyes today!
Only hotel chain in the south where u can pull up to lobby at 1am exhausted from the drive and not have to worry about whether they will allow your two 100lb dogs to stay in your room. Yah the rooms arent the best but they have a loyal fan base from us dog owners.
I am Super Platinum frequent stayer at the chain and read about the ipo awhile back. Since then they have sent us mailings every week offering stay 2 nights get 1 free OR stay 1 night at select hotels for half off. Smelled like they were trying to cook the books by getting a quick revenue boost before ipo. With all the free nights and discounts they gave away me thinks the next couple quarterly reports could be a dumpster fire.
The La Quintas we've stayed at with our 65lb dog won't allow certain breeds. Our Belgian Malinois is not on the no-no list for some reason.
Seriously? La Quinta is a dog.
And this is why Blackstone is richer than you. IPO shitty companies and convince enough folks to purchase shitty companies. Stock is worth 4 or 5 bucks. HUGE SUCCESS.
This is what the world has become.
Take something that is worthless, spend five dollars marketing it to a value of ten, and then do it again. No one has a clue what the true worth of anything is because deceptive marketing and government intervention has so distorted the marketplace. Simply seeking the greater fool.
It smells like a standard-issue pump and dump, but maybe insiders know that all of the pending foreclosures are about to be streamlined, sending La Quinta occupancy rates soaring.
Only half joking.
Coworker 1: So, where are you staying?
Coworker 2: La Quinta Inn.
Coworker 1: La Quinta? Isn't that Spanish for "Next to Denny's"?
Bazinga!
Translation: next door to that closed Denny's
Silly Hotel chain, you can't IPO with real earnings and physical assets.
If only they just rented air and gave away the space for free, but in plain view of a billboard they could have IPO'd with a 50 billion valuation.
This looks, sounds and feels more like a $5 stock to me ... mainly because their rooms all look dated, their walls are too thin and their beds feel like crap. The rack rate should be $17, not the stock price.
Damn straight the walls are too thin. We stayed at one last fall on a trip, fortunate enough to be roomed next to a pair of 20 somethings that got it on all night. I am talking at least four times, and she was a screamer yelling out every curse word and diety, some I had never heard of. We were extra special since we had that double door between the rooms and they must have left thier half open, I swear I could smell the sex.
Needless to say our two oldest in Jr high were scared to death about sex after that, so that was a plus I suppose. Best sex ed ever right there.
You mean to tell me one sheet of cheap drywall wasn't soundproof?
2 shhets w only air space makes for an amplifier.
Don't forget the smell in the elevator!
La Quinta - sounds like a bad drink...
A "Kosher" one to boot too...
Flee from any motel managed or owned by someone named Patel. La Quinta are dumps.
Aren't the individual motels franchised out? So this "company" is supposed to grow based on franchise fees?
I ate a bowl of spicy chilly - two hours later, I sat down and had a la-quinta!!!!
Oh and that felt good!!!
Mosyt of you are just full of shit and herd animals with comments. I am writing this from a La Quinta now as I travel-nice. The Inns&Suites are very nice and dogs are always welcome. Yes they have a loyal following and the stock is worth maybe $11.00 a share which is where it will settle but hey in this pretend market everything is inflated.