Deep-pocketed Blackstone Group LP intends to push its newly acquired Motel 6 and Studio 6 brands to the top of the North America economy segment—and beyond.
On the day the investment company finalized its $1.9-billion acquisition of the brands, Jonathan D. Gray, Blackstone’s global head of real estate, said during a general session Tuesday at the Motel 6 and Studio 6 brand conference that the company foresees potential globalization of the brands.
Gray said there were numerous reasons why Blackstone was attracted to the Motel 6 and Studio 6 brands. First, the economy sector in itself is an appealing segment with a lot of growth opportunities…and Motel 6 languished under its previous owner, Accor.
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