Article

2024-09-22 Economy

Blackstone to sell Motel 6 chain, parent company for $525M

[NY Post] "I'm ~~Tom Bodett~~ Bob, and your IT specialist as well"
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.

Sounds like Blackstone milked the business.

Posted by Frank G 2024-09-22 00:00|| || Front Page|| [11131 views ] Top

#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|| 2024-09-22 00:23|| Front Page Top

#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|| 2024-09-22 07:39|| Front Page Top

#3 We'll turn off the light for ya.

Posted by ed in texas 2024-09-22 11:24|| 2024-09-22 11:24|| Front Page Top

#4 Either way, their "customers" will be illegals and will be paid by US taxpayers.

Posted by Regular+joe 2024-09-22 12:29|| 2024-09-22 12:29|| Front Page Top

#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|| 2024-09-22 15:35|| Front Page Top

#6 "You gotta know when to fold em."

Posted by Besoeker 2024-09-22 17:04|| 2024-09-22 17:04|| Front Page Top

01:46 Grom the Affective
01:33 Besoeker
01:22 Besoeker
00:59 Besoeker
00:48 Besoeker
00:40 Frank G