Accor has completed the sale of Motel 6 to private equity firm Blackstone Group, the company said Tuesday.
In May, Accor agreed to sell the budget hotel chain to Blackstone for $1.9 billion.
With the sale, Paris-based Accor cut its debt by about $1 billion. Accor still has a presence in North America with 17 hotels in the Sofitel and Novotel portfolios.
Motel 6, founded in 1962, has about 1,100 hotels throughout North America. About 600 of the hotels are company-owned.
Blackstone’s hotel assets also include Hilton Worldwide and La Quinta Inns & Suites. Follow Danny King on Twitter @dktravelweekly.