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| Economy | |
| Blackstone to sell Motel 6 chain, parent company for $525M | |
| 2024-09-22 | |
| [NY Post] "I'm A hotel operator based in India is buying a classic piece of Americana — budget motel chain Motel 6. Oravel Stays, the parent company of global travel technology company Oyo, will pay current owner Blackstone $525 million for franchisor G6 Hospitality and its Motel 6 and Studio 6 extended-stay brands, the New York-based investment firm said. Blackstone purchased G6 in 2012 for $1.9 billion and it has since generated “over $1 billion in profit,” Rob Harper, head of Blackstone Real Estate Asset Management Americas said in a news release.
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| Posted by:Frank G |
| #6 "You gotta know when to fold em." |
| Posted by: Besoeker 2024-09-22 17:04 |
| #5 Trump winning signals the looming end to subsidized "slum-lords-r-us" level housing for immigrants, and the deferred maintenance overhang will be catastrophic, so take the low-ball and dump now! |
| Posted by: NoMoreBS 2024-09-22 15:35 |
| #4 Either way, their "customers" will be illegals and will be paid by US taxpayers. |
| Posted by: Regular+joe 2024-09-22 12:29 |
| #3 We'll turn off the light for ya. |
| Posted by: ed in texas 2024-09-22 11:24 |
| #2 Blackstone pawned all the hotel lobby pictures of Eisenhower and Carter and probably replaced all the copper pipes with plastic…. Time to sell. Price of 525million seems low for a company that made a billion over the last 12 years. |
| Posted by: Airandee 2024-09-22 07:39 |
| #1 Blackstone is a non public company so who know what the numbers really are. For a while they held the LaQuinta chain. I think they still own the Hilton chain. |
| Posted by: Lord Garth 2024-09-22 00:23 |