SAN JOSE — A Motel 6 property in the South Bay has been bought by Texas-based real estate investors, a deal that extends a private equity firm’s sales of its lodging sites.
Budget hotel brands have typically outperformed full-service hotels that are geared toward business travelers and convention events, which took an economic hit from coronavirus-related shutdowns and restrictions. — Motel 6 at 3208 El Camino Real in Santa Clara, 100 rooms, bought for $13.5 million on July 7. The buyer was a Texas-based group led by Jagmohan Dhillon, principal executive with DMC Hotels and Dhillon Management.
— Motel 6 at 1240 Camden Ave. in Campbell, 19 rooms, bought for $7.8 million on May 20. The buyer was San Francisco-based Ambika Enterprises, headed up by Devendra Patel.