The French hotel group Accor on Monday said it completed the sale of the Red Roof Inn chain of economy hotels to a private consortium for $1.3 billion. In April, Accor announced it was selling the chain to a group made up of Citigroup's Global Special Situations Group and Westbridge Hospitality Fund LP, so that it could focus on its other economy offering, Motel 6, which operates 928 hotels across North America.

 Texas-based Red Roof Inn, which has more than 325 locations nationwide, said it was looking to move its headquarters and add up to 100 more staff. "We are moving forward with growth plans to develop Red Roof Inn into a national chain and will be developing a staffing and corporate office to meet our growth initiatives," said Joe Wheeling, CEO of Red Roof Inn. (DE)