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Oyo acquires Motel 6, Studio 6 brands for $525m
Indian hospitality firm Oyo has completed its US$525 million acquisition of the United States-based G6 Hospitality from Blackstone Real Estate.
G6 Hospitality operates the Motel 6 and Studio 6 brands, adding around 1,500 franchised hotels in the US and Canada to Oyo’s portfolio.
Oyo projects its EBITDA could exceed 2,000 crore rupees (US$235 million) by the fiscal year 2026, with Motel 6 contributing 630 crore rupees (US$74 million) in its first full year after integration.
Oyo also expects the combined entity to generate a gross booking value of US$3 billion, with G6 Hospitality contributing US$1.7 billion.
Recent Oyo developments
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18-Nov-2024 📊 Oyo CEO increases $65m stake
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17-Jun-2024 🏨 Oyo finalizes up to $125m raise at discounted $2.5b valuation: report
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30-May-2024 📈 Oyo records first-ever net profits: founder
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22-May-2024 🚫 Oyo drops IPO bid anew: report
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08-May-2024 📉 Oyo in funding talks at 70% drop in valuation: report
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