Law360, New York (May 22, 2012, 2:53 PM ET) -- Leading European hotel operator Accor SA unloaded its American budget hotel chains in a $1.9 billion deal that will send the Motel 6 and Studio 6 brands to an affiliate of private equity heavyweight The Blackstone Group LP, according to a Tuesday announcement.
The deal gives a Blackstone Real Estate Partners VII affiliate 1,102 hotels encompassing more than 107,000 rooms in the U.S. and Canada, according to a statement Accor issued Tuesday.
The French hotelier did not say how Blackstone plans to finance the transaction, which...
Accor Checks Out Of Motel 6 With $2B Sale To Blackstone
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