INSUBCONTINENT EXCLUSIVE:
OYO has steadily expanded its footprint in the United States since its launch in the region in 2019.3 min read Last Updated : Sep 21 2024 |
1:04 PM IST
Oravel Stays, the parent company of the global travel technology company OYO, on Saturday announced that it has agreed to
acquire G6 Hospitality, the leading economy lodging franchisor and parent company of Motel 6 and Studio 6 brands, from Blackstone Real
Estate for $525 million, in an all-cash transaction.
OYO has steadily expanded its footprint in the United States since its launch in the
region in 2019, and currently operates over 320 hotels across 35 states.
In 2023, OYO added nearly 100 hotels to its US portfolio and aims
base and cash flow for G6
OYO will leverage its technology suite as well as its global distribution network and marketing expertise to further strengthen the Motel 6
company like us to strengthen our international presence
International.Under its ownership, Blackstone invested significant capital to create value and enhance the Motel 6 brand, including
executing a strategy to transform the business into a leading asset light lodging company with a franchise network of ~1500 hotels across
partnership with Blackstone and the transformation that has positioned us well for this new chapter
OYO's innovative approach to hospitality will allow us to enhance our offerings and great value to our guests while maintaining the iconic
We believe G6 is extremely well-positioned for the future and we look forward to seeing its brands continue their success in the years to
