By Karlee Weinmann ( November 25, 2013, 1:36 PM EST) -- New York investment giant Blackstone Group LP is planning an initial public offering for its La Quinta Inns & Suites hotel brand instead of selling the chain outright, sources told Bloomberg on Monday. Blackstone earlier this year launched a dual-track sale process for La Quinta and settled on the listing after initial bids trickled in last month, believing it can unlock heftier returns on the public markets. Blackstone, which leads many of its competitors in real estate and hospitality investments, recently listed its budget hotelier Extended Stay America Inc. unit. So far, Extended Stay has performed well, feeding into the decision to pursue another IPO. La Quinta is valued at roughly $4.5 billion....