Indian hospitality technology company Oravel Stays, the parent company of OYO Hotels, has agreed to acquire Motel 6 in a $525 million deal, USA Today reports.
The acquisition, announced by Blackstone Real Estate on Friday, includes G6 Hospitality, the parent brand of both Motel 6 and Studio 6, marking a significant move for the rapidly growing Indian startup.
Oravel Stays, based in Gurgaon, India, will purchase the budget lodging chain entirely in cash, with the transaction expected to close by the end of the year. Motel 6, known for its budget-friendly accommodations, will remain a separate entity under the new ownership.
“This acquisition is a significant milestone for a startup company like us to strengthen our international presence… Motel 6’s strong brand recognition, financial profile, and network in the US, combined with OYO’s entrepreneurial spirit, will be instrumental in charting a sustainable path forward for the company,” said Gautam Swaroop, CEO of OYO International, in a press release.
OYO, which first entered the US market in 2019, now operates over 320 hotels across 35 states. Globally, the company manages more than 157,000 properties across 35 countries, aiming to empower small businesses and entrepreneurs by providing tech-driven solutions.
