Motel 6 chain sold for $525 million
CARROLLTON, Tex. (UPI) -- Motel 6, known for its bare-bones motel rooms, low prices, and blue sign emblazoned with a red "6," has been sold for $525 million to India-based hotel operator Oyo, Blackstone Real Estate has announced. Oyo, a global travel company, owns 320 hotels in 20 states, and is now adding G6 Hospitality, Motel 6's parent company, to its portfolio. It has been expanding its footprint in the United States in recent years, and is expected to add an […]
