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Oyo to acquire G6 Hospitality, parent company of Motel 6 and Studio 6 brands, for $525 million.
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The acquisition expands Oyo’s US presence, adding 1,500 hotels to its network.
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Deal expected to close in Q4 2024, subject to customary closing conditions.
Oyo, a global travel technology company, has agreed to acquire G6 Hospitality, a leading economy lodging franchisor, from Blackstone Real Estate for $525 million. G6 Hospitality is the parent company of iconic brands Motel 6 and Studio 6, with a network of 1,500 hotels across the US and Canada.
The acquisition marks a significant milestone for Oyo, expanding its footprint in the US market. Oyo currently operates over 320 hotels across 35 states and aims to add 250 hotels in 2024. The deal will enable Oyo to leverage its technology suite, global distribution network, and marketing expertise to drive growth for the Motel 6 and Studio 6 brands.
Gautam Swaroop, CEO of OYO International, stated that the acquisition will strengthen Oyo’s international presence and provide a sustainable path forward. Julie Arrowsmith, President and CEO of G6 Hospitality, expressed gratitude for Blackstone’s partnership and welcomed Oyo’s innovative approach to hospitality.
