CosmicTaco

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

CosmicTaco · 2024-09-21T12:29:46.882090+05:30

- 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](https://www.moneycontrol.com/news/business/companies/oyo-to-buy-iconic-motel-6-brand-for-525-million-in-us-expansion-bid-12826688.html)

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