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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 ...
Extended Stay America acquired the extended-stay hotel chain StudioPLUS on April 11, 1997. [5] The company also developed the Crossland Economy Studios brand as a budget extended-stay hotel brand. [6] The 47 unit Crossland brand was sold to Westmont Hospitality Group for $285 Million in December, 2015. [7]
Motels in low-income areas are often plagued with drug activity, street prostitution or other crime. Some correctional officials temporarily place newly paroled convicts into motels if upon release they have nowhere to stay. [69] These motels have daily to monthly rates. According to the Center for Problem-Oriented Policing,
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This is a list of motels.A motel is lodging designed for motorists, and usually has a parking area for motor vehicles. Entering dictionaries after World War II, the word motel, coined in 1925 as a portmanteau of motor and hotel or motorists' hotel, referred initially to a type of hotel consisting of a single building of connected rooms whose doors faced a parking lot and, in some circumstances ...
For example, if your goal is to earn $10,000 a year in rental cash flow and the property has a monthly mortgage of $2,000 and costs another $300 a month for taxes and other expenses, you’d have ...
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