Indian hotel giant Oyo buys Motel 6 brand in $525M deal [Seeking Alpha]
ACCOR SA SPNS/ADR (ACCYY)
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Source: Seeking Alpha
According to a statement , Oyo's parent company, Oravel Stays, will acquire G6 Hospitality, which runs both the Motel 6 and Studio 6 hotel brands. Oyo has been on a steady expansion spree in the U.S. since it entered the country in 2019, and currently operates over 320 hotels across 35 states. In 2023, the hotel operator added nearly 100 hotels to its U.S. portfolio, with plans to add about 250 hotels in 2024. Oyo said that it expects to operate Motel 6 as a separate entity. "This acquisition is a significant milestone for a startup company like us to strengthen our international presence," said Oyo International chief executive Gautam Swaroop. Blackstone had acquired Motel 6 from French hotel company Accor SA in 2012 in a $1.9 billion deal. "This transaction is a terrific outcome for investors and is the culmination of an ambitious business plan that more than tripled our investors' capital and generated over $1 billion in profit over our hold period," said Rob Harper, Hea
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