OYO Hotels announced this week it is acquiring iconic brand Motel 6 in an all-cash transaction with G6 Hospitality, its parent company.
India-based hotel operator OYO is acquiring Motel 6's parent company, G6 Hospitality, for $525 million in an all-cash transaction, according to a release from Blackstone Real Estate. Oravel Stays, which owns global travel tech company OYO, operates over 320 hotels in 35 states across America. OYO first broke into the American market with an aggressive launch in 2019.
, combined with OYO’s entrepreneurial spirit, will be instrumental in charting a sustainable path forward for the company, which will continue to operate as a separate entity." MARRIOTT SUES FRANCHISEE FOR TURNING NEW YORK HOTEL INTO MIGRANT SHELTER Blackstone "invested significant capital" to "enhance the Motel 6 brand," according to the real estate firm. There are around 1,500 Motel 6 and Studio 6 franchise properties in Canada and the U.S.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Motel 6 chain, Dallas-area parent company soldThe budget motel chain Motel 6 is being acquired by the parent company of Oyo.
Read more »
Motel 6 sold to Indian hotel operator Oyo for $525 millionThe deal between Blackstone, which owns Motel 6's parent company G6 Hospitality, and Oravel Stays was announced as an all-cash transaction.
Read more »
Motel 6 sold to Indian hotel operator Oyo for $525 millionThe transaction will also include the sale of the Studio 6 motel brand, which caters to customers seeking extended stays.
Read more »
Blackstone to sell Motel 6 chain, parent company for $525MA hotel operator based in India is acquiring the budget motel chain Motel 6 from Blackstone for $525 million, the New York-based investment firm announced Friday.
Read more »
CNBC's Inside India newsletter: Will India's lofty manufacturing ambitions bear fruit?As the 10th anniversary of the Make in India initiative nears, CNBC’s Inside India takes a look at how the nation’s manufacturing has evolved —…
Read more »
Trump calls India a 'very big abuser' of US-India trade tiesDuring campaign event in Michigan, Donald Trump slams India as 'very big abuser' on trade but says Indian PM Narendra Modi is 'fantastic' and he will meet with him next week.
Read more »