The US investment fund Blackstone has put its hotel franchise G6 Hospitality up for sale. According to several media outlets, the deal is expected to be finalised for 1 billion dollars, compared to the 1.9 billion dollars it cost to buy it.
G6 Hospitality operates through its two brands: Motel 6, specialising in budget hotels, and Studio 6, which focuses on long-stay accommodations. It currently has 1,400 resorts between the two brands in 49 states in the US and Canada.
In 2012, Blackstone acquired the franchise from Accor for $1.9 billion. Since taking over the company, the fund has sold ownership of many of the hotels. Out of 1,200 Motel 6 properties, by the end of 2020, 1,050 were already owned by franchisees rather than Blackstone.
This move does not signal an end to Blackstone’s interest in hotels. In 2021, it bought, together with Starwood, Extended Stay and ESH Hospitality.