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The occupancy rate by then was about 85 percent, well above the industry average, and as a result of their success, Motel 6 became an attractive acquisition target. Becker and Greene sold the chain to an investment group in 1968. In the early 1970s, Motel 6 opened its largest location, Motel 6 Tropicana, in Las Vegas, Nevada.
There’s some price relief on hotel rooms now, but it won’t last long. Hotel prices are averaging $185 per night in the U.S, down from $199 per night in mid-June, according to Travel booking ...
Extended stay hotels may offer non-traditional pricing methods such as a weekly rate that caters towards travelers in need of short-term accommodations for an extended period of time. Similar to limited and select service hotels, on-site amenities are normally limited and most extended stay hotels lack an on-site restaurant.
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The low-budget extended stay chain Intown Suites was founded in 1988, with 139 locations in 21 states. 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 ...
Average Daily Rate (commonly referred to as ADR) is a statistical unit that is often used in the lodging industry. The number represents the average rental income per paid occupied room in a given time period. ADR along with the property's occupancy are the foundations for the property's financial performance. [1]
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