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.
Related News Articles
ICICI Prudential AMC Acquires Office Tower Worth Rs 3.15 Bn in Santacruz
The real estate developer Kalpataru's affiliate, Ixora Properties, has sold the complete commercial tower in Santacruz, a western suburb of Mumbai.
Mumbai Realty Market Sees Unprecedented Growth with Over 1 Lakh Registrations in 2024
Mumbai's residential market has sustained strong momentum in 2024, with September marking a key milestone as the city surpassed 100,000 property registrations — the fastest pace in a decade.
Nashik Witnesses a Boom in Dasara Shopping: Gold, Real Estate, and Automobiles See High Demand
On the eve of Dasara, Nashik's markets are abuzz with activity, witnessing a significant surge in sales across various sectors, particularly in gold, real estate, and automobiles.
Unifying Efforts to Tackle Climate Change
The urgency to combat climate change is escalating, and a collective approach is essential to address this global challenge. Cities like Mumbai, with their significant real estate markets, play a crucial role in this effort.
The Evolving Landscape of Real Estate: Trends and Transformations
The real estate industry is undergoing a significant transformation, driven by technological advancements, sustainability initiatives, and shifting consumer preferences. From smart homes to green buildings, this article explores the key trends shaping the
Navigating the Stock Market: Daily Live Q&A Session
Join our daily live Q&A session to get expert advice on the stock market, investment strategies, and market trends. Stay updated and make informed decisions.