Blackstone weighs sale of budget hotel brand Motel 6

Blackstone is working with advisers and in the early stages of soliciting interest from potential suitors in G6 Hospitality LLC, which owns both Motel 6 and Studio 6, some of the people said.

NEW YORK: Blackstone Inc’s real estate arm is exploring the sale of Motel 6 in a deal that could value the budget hotel brand’s holding company at more than US$1bil (RM4.2bil), according to people with knowledge of the matter.

The New York-based firm is working with advisers and in the early stages of soliciting interest from potential suitors in G6 Hospitality LLC, which owns both Motel 6 and Studio 6, some of the people said.