Oyo to Acquire Motel 6 for $525 Million
Indian hospitality chain expands its U.S. footprint with the acquisition of Motel 6.
Oyo Hotels & Homes, India’s largest hotel chain, has agreed to acquire Motel 6 from The Blackstone Group for $525 million in cash. The deal is expected to close in the first half of 2023, subject to regulatory approvals.
Motel 6 is a leading economy hotel chain in the United States, with over 1,400 properties in 49 states. The acquisition will give Oyo a significant presence in the U.S. market, which is the world’s largest hotel market.
Oyo’s expansion plans
The acquisition of Motel 6 is part of Oyo’s aggressive expansion plans in the United States. The company has been rapidly expanding its presence in the U.S. market since it entered in 2019, and it now operates over 1,000 hotels in the country.
Oyo’s expansion in the U.S. is part of its broader goal of becoming the world’s largest hotel chain. The company has been rapidly expanding its presence in other markets, including Europe, China, and Latin America.
The acquisition of Motel 6 is a major milestone in Oyo’s expansion plans. The deal will give Oyo a significant presence in the U.S. market, and it will help the company achieve its goal of becoming the world’s largest hotel chain.
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