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UMBAI: Oyo has acquired US-based G6 Hospitality, parent company of Motel 6 and Studio 6 brands, from Blackstone Real Estate for $525 million in an all-cash deal. This marks a significant expansion for Oyo, which has been growing its presence in the US since launching there in 2019. The startup currently operates over 320 hotels across 35 states and plans to add another 250 to its portfolio this year.

    Oyo will leverage its technology stack and global distribution network to strengthen Motel 6 and Studio 6 brands, which have a franchise network generating $1.7 billion in gross room revenues annually. Under Blackstone's ownership, the Motel 6 brand was transformed into an asset-light lodging company with over 1500 hotels across the US and Canada.

    "This acquisition is a major milestone for Oyo, combining our entrepreneurial spirit with Motel 6's strong brand recognition and financial profile," said Gautam Swaroop, CEO at Oyo International. The transaction is expected to close in Q4 2024.