Results 1 to 1 of 1
Thread Information
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)
-
05-22-2012, 07:26 PM #1
Motel 6 being sold to private group for $1.9 BILLION
Motel 6 being sold to private group for $1.9 billion
Updated 6h 32m ago
NEW YORK (AP) – Accor says it has agreed to sell Motel 6 and another North American economy hotel brand to an affiliate of The Blackstone Group for $1.9 billion.
The French company says Motel 6 and Studio 6, an extended-stay economy chain, encompass 1,102 hotels in the U.S. and Canada.
Accor SA says the deal, expected to close in October, will give it the resources it needs to boost growth in the Asia Pacific region, Latin America and Europe.
The company will continue to own and operate luxury and upscale flagship hotels in the U.S. under the Sofitel and Novotel brands.
Blackstone says it plans to invest significantly in Motel 6's properties and speed the expansion of its franchise base. The private equity firm already owns Hilton Worldwide and other hotels.
Motel 6 being sold to private group for $1.9 billionNO AMNESTY
Don't reward the criminal actions of millions of illegal aliens by giving them citizenship.
Sign in and post comments here.
Please support our fight against illegal immigration by joining ALIPAC's email alerts here https://eepurl.com/cktGTn
500,000 Illegals Caught on Arizona Ranch
05-02-2024, 09:08 AM in illegal immigration News Stories & Reports