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
Mumbai Real Estate Developer and CEO Embroiled in ₹13.65 Crore Fraud Case
A Mumbai-based real estate developer and CEO have been booked for allegedly forging documents and duping a partner of ₹13.65 crore in a Bhandup land deal.
Mumbai Property Registration Revenue Surges 52% YoY to Rs 1,081 Crore This Diwali
According to data from the Inspector General of Registration (IGR), Maharashtra, property registrations in Mumbai witnessed a remarkable 22% year-over-year increase, with 11,861 homes registered in October 2024, compared to 9,736 in November 2023.
AI Bubble Deflating: Zoho's Sridhar Vembu Stresses Importance of Real Engineering Work
Zoho CEO Sridhar Vembu discusses the potential deflation of the AI bubble and emphasizes the enduring importance of real engineering work in the tech industry.
ED Seizes ₹19.61 Crore from Karrm Developers Linked to Vivek Oberoi in Real Estate Scandal
The Enforcement Directorate (ED) in Mumbai has taken action against Karrm Developers, a real estate firm associated with actor Vivek Oberoi, by seizing assets worth ₹19.61 crore. The action is part of an ongoing investigation into financial misconduct in the affordable housing sector.
Mumbai Sees Record-Breaking Property Registration in March 2025
Mumbai witnessed a surge in property registration in March 2025, driven by the impending hike in reckoner rates set to take effect from April 2025. This surge highlights the robust demand in the city's real estate market.
Private Equity Investments Fuel 133% Surge in Real Estate Deal Volumes in Q1 2025
Real estate deal volumes soared by 133% in the first quarter of 2025, driven predominantly by private equity (PE) investments, which accounted for 88% of the total transactions.