Motel 6 Sold to Oyo for $525 Million – A Major Shift in Budget Hospitality
Motel 6 Sold to Oyo – The Acquisition Details
The budget motel chain Motel 6 is being acquired for $525 million by Oyo, the Indian-based hotel operator. This all-cash transaction involves Oyo's parent company Blackstone, which also owns G6 Hospitality. Notably, this deal extends to include the Studio 6 motel brand, catering to customers looking for extended stays.
Oyo's Expansion Plans in the U.S.
Oyo has been actively expanding its footprint across the United States, currently operating 320 hotels in 35 states. The company's goal is to add 250 more hotels to its portfolio this year, reinforcing its commitment to becoming a major player in the budget accommodation sector.
Impact on the Hospitality Sector
The acquisition is anticipated to close by the end of the year, demonstrating Oyo's ambition to dominate the budget hospitality market. As Oyo continues to grow, we may expect significant shifts in market dynamics, competition, and consumer choices.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.