Motel 6 sold to India-based OYO Hotels for $525 million: ‘New chapter’ | FOX Business
India-based hotel operator OYO is making waves in the American market with a $525 million all-cash acquisition of G6 Hospitality, Motel 6, and Studio 6’s parent company. This major deal, confirmed by Blackstone Real Estate, adds even more hotels to OYO’s growing U.S. portfolio, which already boasts over 320 properties across 35 states. OYO, known for its rapid expansion since entering the American scene in 2019, is pushing hard to establish a strong presence, acquiring nearly 100 hotels just last year. Now, they’re setting their sights on adding another 250 by 2024.
G6 Hospitality’s Motel 6 and Studio 6 brands are no strangers to the American market, with an impressive $1.7 billion in gross room revenues and about 1,500 properties in the U.S. and Canada. This acquisition is a game-changer for OYO, giving them access to Motel 6’s recognizable name and network. Gautam Swaroop, OYO International’s CEO, expressed excitement about the deal, noting how it solidifies OYO’s global standing while allowing Motel 6 to continue operating under its trusted brand.
Blackstone, the real estate giant behind Motel 6’s transformation, has invested heavily to elevate the brand’s profile. Julie Arrowsmith, CEO of G6 Hospitality, acknowledged Blackstone’s role in shaping Motel 6 into a modern brand poised for this next phase with OYO at the helm. Despite the big changes ahead, both companies see a bright future as the deal is expected to close officially by the end of 2024.
With OYO’s entrepreneurial spirit and Motel 6’s iconic status, the hospitality landscape in North America could be in for some exciting shifts. This bold move reflects how international companies like OYO are reshaping industries by tapping into established American brands, creating new opportunities for growth and innovation………
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How does acquiring a well-known brand like Motel 6 by an international company such as OYO influence the market dynamics and consumer trust in the hospitality industry?
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