Blackstone clearly sees an opportunity in a no-frills brand that offers consumers a consistent, albeit Spartan, experience.
Motel 6 and Studio 6, the no-frills budget hotel chains that once offered rooms for $6 a night, are being sold by French parent Accor for $1.9 billion.
Their new owner, an affiliate of private equity firm Blackstone Group, already owns Hilton Worldwide. Blackstone’s Real Estate Partners VII fund said it plans to “accelerate the expansion of the franchise base” for Motel 6 and Studio 6.
Have a confidential tip for Skift? Get in touch