Motel 6 is a major chain of budget motels with more than 1,000 locations in the United States and Canada. Motel 6 also operates Studio 6, a chain of extended stay hotels. In October 2012 the sale of the Motel 6 chain by Accor Hotels to The Blackstone Group for $1.9 billion was concluded. Motel 6 was founded in Santa Barbara, California, in 1962, by two local building contractors, William Becker and Paul Greene. The partners developed a plan to build motels with rooms at bargain rates. They decided on a US$6 nightly room rate that would cover building costs, land leases, and janitorial supplies; hence the company name Motel 6.
Contributions by TenPoundHammer, Hmcrabtree, and Msr69er.