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The acquisition of G6 Hospitality by Oravel Stays, Oyo’s parent company, marks another chapter in Oyo’s rapid global expansion
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The move reflects Oyo’s continued ambition to be a leading player in the budget hotel sector
Oyo, an Indian hotel operator, has announced its acquisition of the Motel 6 chain for $525 million in an all-cash deal. Blackstone, the New York-based investment firm that owns Motel 6’s parent company G6 Hospitality, confirmed the sale, which also includes the Studio 6 brand that caters to extended-stay guests. The transaction is expected to be finalized by the end of the year, reported The Associated Press.
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Blackstone originally purchased Motel 6 and Studio 6 for $1.9 billion in 2012 and has since transitioned the brand into a franchise model
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Rob Harper, head of Blackstone Real Estate Asset Management Americas, described the sale as a highly successful outcome for investors, having more than tripled their capital and generating over $1 billion in profit
This acquisition is a pivotal move for Oyo, which has been steadily expanding its presence in the U.S. over the past few years. With a current portfolio of 320 hotels spread across 35 states, Oyo plans to add another 250 properties by year’s end. Gautam Swaroop, Oyo’s international division chief, emphasized that this deal is a significant milestone in the company’s strategy to solidify its global presence.
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