OYO to buy iconic Motel 6 brand for $525 million in US expansion bid

• OYO's parent company, Oravel Stays, is set to acquire G6 Hospitality, the owner of Motel 6 and Studio 6 brands, for $525 million in cash.
• This acquisition marks a significant milestone for OYO, which has been expanding its footprint in the US since 2019.
• Blackstone Inc., the current owner, has invested heavily in transforming Motel 6 into a leading asset-light lodging company.
• The deal is expected to close in Q4 2024, pending customary closing conditions.
• OYO plans to leverage its technology and marketing expertise to further strengthen the Motel 6 and Studio 6 brands.

Source: Moneycontrol