Accor Will Listen to Expressions of Interest in Motel 6 Brand
Accor SA (AC), Europe’s largest hotel company, said it would consider offers for its Motel 6 economy brand in the U.S.
The hotelier would listen to expressions of interest in the chain, which has about 1,100 Motel 6 and Studio 6 lodgings in North America, Chief Executive Officer Denis Hennequin said today at an investor conference in Paris.
“The brand is strong, there is no fire sale on Motel 6,” the CEO said.
A recovery for economy brands in the U.S. remains slow amid high unemployment, Accor said in July. Its goal “is to have no investment in the mid-term in the U.S.,” Hennequin said.
The Evry, France-based company said today it plans to “sharply accelerate” the transformation of Motel 6’s business model, aiming to “significantly” reduce capital employed over the medium term and improve margins.
Jim Amorosia was promoted to CEO of Motel 6 and Studio 6, replacing Olivier Poirot who is leaving, Accor said today.
To contact the reporter on this story: Armorel Kenna in Milan at akenna@bloomberg.net
To contact the editor responsible for this story: Celeste Perri at cperri@bloomberg.net.
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