Accor completes Motel 6 sale to Blackstone
Accor has announced the completion of the sale of its Motel 6/Studio 6 hotels in North America to an affiliate of Blackstone Real Estate Partners.
The deal is worth approximately $1.9 billion and will allow the French hotel giant to reduce its adjusted net debt by €780m.
Following the divestment, Accor operates 17 Sofitel and Novotel hotels in North America, of which nine in the United States and eight in Canada.
Other accommodation assets controlled by Blackstone include Hilton Worldwide and La Quinta Inns & Suites.