M&A

M&A

Oyo acquires US co. G6 Hospitality for $525-M from Blackstone Real Estate

Business Standard   G6 Hospitality   Motel 6  

Travel and hospitality technology platform Oyo has acquired Texas-based G6 Hospitality , an economy lodging franchisor and parent company of Motel 6 and Studio 6 brands, from Blackstone Real Estate for USD 525 million, in an all-cash transaction which is expected to close in the fourth quarter of 2024.Motel 6’s franchise network, of about 1500 hotels across the US and Canada, produces gross room revenues of USD 1.7 Billion. Oyo will leverage its technology suite as well as its global distribution network and marketing expertise to further strengthen the Motel 6 and Studio 6 brands.Goldman Sachs & Co. LLC acted as Blackstone’s lead advisor and Jones Lang LaSalle Securities, LLC and PJT Partners acted as its other financial advisors.