Blackstone Group will buy the Motel 6 economy chain from Accor SA for $1.9 billion. The acquisition represents 1,102 Motel 6 and extended-stay Studio 6 properties throughout North America. “Although Motel 6 will be operated on a stand-alone basis, similar to other lodging investments we have made on behalf of our investors, we plan to invest significant capital in the company’s properties and to accelerate the expansion of the franchise base,” says Jonathan Gray, global head of real estate for Blackstone.
Blackstone Acquires Motel 6 for $1.9 Billion
The private equity firm will invest capital into existing properties and accelerate the economy brand's expansion.
Blackstone Acquires Motel 6 for $1.9 Billion
The private equity firm will invest capital into existing properties and accelerate the economy brand's expansion.
