News Formal

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

  • 📰 NPR
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

The 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.

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.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 96. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

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.
Källa: KPBSnews - 🏆 240. / 63 Läs mer »