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Blackstone Sells Motel 6, Studio 6 Brands for $525M
India-based Oravel Stays, the parent company of global travel technology company OYO, has agreed to acquire G6 Hospitality, Dallas-based parent company of the Motel 6 and Studio 6 brands, from Blackstone Real Estate for $525 million, in an all-cash transaction. OYO has steadily expanded its footprint in the U.S. since its launch in the region in 2019 and currently operates more than 320 hotels across 35 states.
Motel 6’s franchise network produces annual gross room revenues of $1.7 billion. OYO said it would leverage its technology suite and its global distribution network and marketing expertise to further strengthen the Motel 6 and Studio 6 brands and drive continued financial growth.
Under its ownership, Blackstone invested significant capital to create value and enhance the Motel 6 brand, executing a strategy to transform the business into a leading asset-light lodging company with a franchise network of approximately 1,500 hotels across the U.S. and Canada.
The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions.
- ◦Sale/Acquisition
