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Motel 6 Chain to Be Sold to Blackstone for $1.9 Billion

Blackstone Group LP, the New York-based private-equity firm that manages $48 billion in real estate assets, agreed to buy the Motel 6 lodging chain from Accor SA for $1.9 billion, adding to its hospitality holdings.

The purchase includes 1,102 Motel 6 and Studio 6 extended-stay hotels in North America with more than 107,000 rooms, Paris-based Accor said today in a statement. Accor, Europe’s largest hotel operator, rose the most in six months.