PARIS: French hotel giant Accor said yesterday it had completed the sale of its US budget hotel division including Motel 6 to the Blackstone investment fund for $ 1.9 billion (1.5 billion euros).
"This transaction allows Accor to reduce its adjusted net debt by about 780 million euros," Accor said in a statement.
At the end of August, Accor's net debt totaled roughly 804 million euros.
When the sale was announced in May Accor said it would also use the funds to tap into growth in Asia.
The sale of 1,102 hotels with 107,347 rooms in the United States and Canada includes the Motel 6 chain and Studio 6, an extended-stay economy chain.
It leaves Accor with 17 Sofitel and Novotel hotels in North America.
Chief Executive Denis Hennequin has called the Motel 6 sale an "important step" in Accor's plans to restructure its business model.
The company said at the end of August it was accelerating its plans to cut the number of rooms it owns directly in favor of franchising and management contracts after posting a net loss of 532 million euros in the first half of the year.
Accor, which owns brands from the budget F1 to upscale Pullman, has been reducing its real estate assets, which tie up capital, even as it rapidly expands the number of rooms it offers.
In particular it has targeted expansion in Asia to cash in on the region's growing affluence.
Accor sells US budget hotel to Blackstone for $ 1.9 billion
Accor sells US budget hotel to Blackstone for $ 1.9 billion
Dubai Shopping Festival’s sporting events turn city into hub for outdoor action
The Dubai Shopping Festival is raising the bar this winter with a high-impact sporting calendar that runs throughout December and January, transforming the city into a hub for elite competition, community fitness and outdoor action.
From professional basketball to baseball games, polo tournaments, half marathons, and horse racing, the festival brings together athletes, families and spectators for a dynamic winter season of sport. The diverse lineup of events strengthens DSF’s role in supporting Dubai’s active lifestyle, showcasing world-class sporting venues and encouraging community engagement during the city’s peak outdoor season.
Key sporting events taking place during DSF:
Dubai Racing Carnival
- Race days: Jan. 2, Jan. 9 and ongoing dates until March 13.
- Location: Meydan Racecourse
The flagship winter racing season features international horses and top jockeys.
More information: https://www.visitdubai.com/en/festivals-and-events/dubai-events-calendar/dubai-racing-carnivaland https://www.visitdubai.com/en/festivals-and-events/dubai-events-calendar/dubai-racing-carnival-festive-friday
Silver Cup
- Date: Jan. 10-Jan.24
- Location: Al-Habtoor Polo Resort and Club
Silver Cup, part of Dubai’s prestigious polo calendar, sees six of the world’s best teams go head-to-head in a 20-goal handicap.
- More information: https://www.visitdubai.com/en/festivals-and-events/dubai-events-calendar/silver-cup
Spinneys Dubai 92 Cycle Challenge — Build-Up Ride 4
- Date: Jan. 4
- Location: Al-Qudra Cycle Track
The last of the Spinneys Dubai 92 Cycle Challenge Build-Up Rides is designed to help cyclists build their stamina ahead of the ultimate challenge.
- More information: https://www.visitdubai.com/en/festivals-and-events/dubai-events-calendar/spinneys-dubai-92-cycle-challenge-build-up-ride-4
Hood to Coast Dubai 2026
- Date: Jan. 10
- Location: Al-Marmoom Desert Conservation Reserve
Hood to Coast Dubai challenges teams to conquer a series of relay segments through expansive desert trails, with each runner taking on their leg before passing the baton.
- More information: https://www.visitdubai.com/en/festivals-and-events/dubai-events-calendar/hood-to-coast
Skechers Performance Run — Race 4 (16k/10k/5k/3k)
- Date: Jan. 10
- Location: Meydan
Enjoy a fun day out for the whole family at this popular community race offering various distances, where participants can run along the traffic-free roads of Meydan.
- More information: https://www.visitdubai.com/en/festivals-and-events/dubai-events-calendar/skechers-performance-run
Marina Home Dubai Creek Striders Half Marathon 2026
- Date: Jan. 11
- Location: Dubai Creek Golf and Yacht Club
One of the largest races of its kind in the UAE and the Middle East, this half marathon will mark its 23rd edition in 2026.
- More information: https://www.visitdubai.com/en/festivals-and-events/dubai-events-calendar/dubai-creek-striders-half-marathon
A citywide sporting season
With events spanning elite international fixtures, community runs, polo tournaments, multi-distance races, trail challenges and recurring racing nights at Meydan, DSF strengthens Dubai’s winter season for sport, well-being and outdoor experiences.
