Oyo Acquires US Budget Hotel Brands from Blackstone in $525 Million Deal
Oyo acquires G6 Hospitality, including Motel 6 and Studio 6 brands, to boost its US and Canada presence.
OyoBlackstone Real EstateG6 HospitalityMotel 6Studio 6Real Estate MumbaiSep 22, 2024
The deal includes the Motel 6 and Studio 6 brands, with G6 continuing to operate as a separate entity. Oyo plans to leverage its technology to further strengthen these brands, which currently have around 1,500 economy lodging locations in the US and Canada.
Oyo has been aggressively expanding its presence in the US, with a current portfolio of over 320 hotels across 35 states. The company plans to add another 250 hotels in the region this year. The acquisition will also allow Oyo to gain a foothold in Canada, where it currently manages some hotels.
G6 Hospitality's franchise network produces gross room revenues of $1.7 billion, generating a healthy fee base and cash flow. Oyo's acquisition comes at a time when the travel industry is recovering from the pandemic-led slump, boosting businesses like hospitality.
Frequently Asked Questions
What is the value of the deal between Oyo and Blackstone Real Estate?
The deal is worth $525 million.
What brands are included in the acquisition?
The acquisition includes the Motel 6 and Studio 6 brands.
How many hotels does Oyo currently have in the US?
Oyo currently has over 320 hotels across 35 states in the US.
What is the financial performance of G6 Hospitality's franchise network?
G6 Hospitality's franchise network produces gross room revenues of $1.7 billion, generating a healthy fee base and cash flow.
What is Oyo's plan for the acquired brands?
Oyo plans to leverage its technology to further strengthen the Motel 6 and Studio 6 brands.
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