Popular motel chain sold to Indian hotel operator for $525M in all-cash transaction

Oyo, a hotel operator based in India, has been expanding its footprint in the U.S. over the past few years.

WASHINGTON — The budget motel chain Motel 6 is being acquired by the parent company of Oyo, a hotel operator based in India.

The New York-based investment firm Blackstone, which owns Motel 6’s parent company G6 Hospitality, announced Friday that the deal would be an all-cash transaction worth $525 million.

The transaction will also include the sale of the Studio 6 motel brand, which caters to customers seeking extended stays. The deal is expected to close by the end of the year.

→ Continue reading at KGW TV

Related articles

Comments

Share article

Latest articles