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Motel 6 was founded in Santa Barbara, California, in 1962, by two local building contractors: William Becker and Paul Greene. [3] The partners developed a plan to build motels with rooms at low cost rates. They decided on a $6 room rate per night (equivalent to $60 in 2023 [4]), which would cover building costs, land leases, and janitorial ...
Since 1999 the U.S. budget lodging chain Motel 6, owned by The Blackstone Group (previously Accor), [1] operates Studio 6, a chain of extended stay hotels with weekly rates. The chain provides a kitchen area in its rooms, and allows pets, and operates in 18 U.S. states and Canada.
At the time of the merger, Extended Stay America operated 475 hotels; Blackstone increased that number with the addition of 132 from Homestead Studio Suites. [9] [10] Homestead, which was founded by Security Capital in 1992, had been acquired by Blackstone in November 2001 for US$740 million. All of Blackstone's extended-stay hotels consisting ...
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Realtors group forecasts US 30-year fixed-rate mortgage averaging 6% in 2025. The rate on the popular U.S. 30-year fixed-rate mortgage will average around 6.0% next year and help to boost new ...
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