Blackstone Buys Motel 6 As Private Equity Flows To Real EstateVW Staff
The Blackstone Group L.P. (NYSE:BX) has purchased the motel chain, Motel 6, today from a French hotel giant. The deal cost the private equity firm just $1.2 billion. The acquisition adds to the large portfolio of hotel chains already owned by Blackstone.
In October of 2007 the company purchased Hilton Worldwide for $26.9 billion. That deal marked the high point for both the real estate market and the private equity market. Blackstone . . .
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