Motel 6 is sold to an Indian hotel company for $525 million

Motel 6, the economy budget motel that has existed for six decades, announced that it will be acquired by Oyo, an Indian-based travel company, in a multi-million dollar sale.Motel 6’s parent company, Blackstone,

"This acquisition is a significant milestone for a start-up company like us to strengthen our international presence," Oyo International’s chief executive, Gautam Swaroop, said in a statement.Oyo, which expanded into the U.S. five years ago, was founded in 2013 and operates 320 hotels across 35 states. Last year, the India-based company added roughly 100 additional hotels to its U.S. portfolio.

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Motel 6 is sold to an Indian hotel company for $525 millionThe sale to Oyo, a travel business, will include the Studio 6 motel brand, which caters to customers seeking extended stays. The all-cash transaction is expected to be finalized by the end of the year.
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