🠈  Motel 6  🠊

Motel 6

Motel 6 is a chain of budget hotels with over 1400 locations world wide. Studio 6 is a chain with rooms designed for extended stay. The chain is popular and it is wise to reserve a room online before hitting the road.

Note Studio 6 will rent rooms for short stays and Motel 6 allows long stays. I book at whatever hotel is most convenient.

The chain was founded in 1962 by William Becker and Paul Greene who wanted to design affordable hotels for budget travelers. The first hotel was in Santa Barbara, Ca. The rooms originally let for $6 per night. Unfortunately, they've raised rates to keep up with inflation.

The concept of a budget motel caught on and other chains began aggressive expansion. To keep up with the competition, Motel 6 allowed itself to be acquired by a conglomerate called City Investing Company.

City created an interesting portfolio with insurance companies, savings and loans, city development firms, Rheems (which manufactures air conditioning systems), Motel 6 and the Red Barn restaurant chain.

In 1984, the share holders at City chose to liquidate the company. My guess is that the company realized that lawsuits directed at any of its subsidiaries could affect the other companies.

KKR acquired Motel 6 and eventually sold Accor which was a French brand of luxury hotels. The Blackstone Group acquired the chain in 2012.

Corporate Ownership

This section lists changes in corporate ownership.

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  1. Funding Universe - Motel 6 (Drawn 5/6/2019)

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