OYO to acquire G6 hospitality for $525m

This will be done in an all-cash transaction. 

Oravel Stays, the parent company of the global travel technology company OYO, announced the acquisition of G6 hospitality from Blackstone Real Estate for $525m, in an all-cash transaction.

“Motel 6’s strong brand recognition, financial profile, and network in the US, combined with OYO’s entrepreneurial spirit, will be instrumental in charting a sustainable path forward for the company, which will continue to operate as a separate entity,” said Gautam Swaroop, CEO of OYO International.

The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions. 

In 2023, OYO added nearly 100 hotels to its US portfolio and aims to add ~250 hotels in 2024. 

Currently, OYO operates with over 320 hotels across 35 states.