{"id":2344485,"date":"2024-09-22T13:46:01","date_gmt":"2024-09-22T17:46:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/motel-6-sold-to-indian-hotel-operator-for-525-million-washington-examiner\/"},"modified":"2024-09-22T13:47:27","modified_gmt":"2024-09-22T17:47:27","slug":"motel-6-sold-to-indian-hotel-operator-for-525-million-washington-examiner","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/motel-6-sold-to-indian-hotel-operator-for-525-million-washington-examiner\/","title":{"rendered":"Motel 6 sold to Indian hotel operator for $525 million &#8211; Washington Examiner"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmotel-6-sold-to-indian-hotel-operator-for-525-million-washington-examiner%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2344485&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Motel 6, a budget motel\u200d chain, is set to be acquired by the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/youtube-suspends-demonetizes-one-america-news-network\/\" title=\"YouTube Suspends, Demonetizes One America News Network\">parent company<\/a> of Indian hotel operator Oyo for $525 million in an all-cash deal. This acquisition comes\u2064 from Blackstone, a New York-based investment firm that currently\u2064 owns G6 Hospitality, the\u2064 parent company of Motel 6.\u2062 In\u2062 addition to Motel 6, the transaction will \u200dalso encompass the Studio 6\u2062 brand, which targets customers \u2064looking for <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/home-to-delaware-biden-on-track-to-set-vacationing-record\/\" title=\"Biden poised to break vacationing record in Delaware.\">extended stays<\/a>. The deal is anticipated \u2063to be finalized by the \u2064end of the year. Oyo \u200bhas been operational in India for\u200b just over ten years, establishing\u2064 itself in \u2064the hotel industry.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-header-search-button-mob dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-mobile-search-icon td-icon-search\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><span class=\"tdb-mobile-menu-button\"><i class=\"tdb-mobile-menu-icon td-icon-mobile\"><\/i><\/span><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div class=\"tdb-drop-down-search\" aria-labelledby=\"td-header-search-button\">\n<div class=\"tdb-drop-down-search-inner\">\n<form method=\"get\" class=\"tdb-search-form\" action=\"https:\/\/www.washingtonexaminer.com\/\"><\/form>\n<div class=\"tdb-aj-search\"><\/div>\n<\/div>\n<\/div>\n<p><a href=\"http:\/\/www.washingtonexaminer.com\/#\" role=\"button\" aria-label=\"Search\" class=\"tdb-head-search-btn dropdown-toggle\" data-toggle=\"dropdown\"><i class=\"tdb-search-icon td-icon-search\"><\/i><\/a><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<h1 class=\"tdb-title-text\">Motel 6 sold to Indian hotel operator for $525 million<\/h1>\n<div><\/div>\n<div class=\"tdb-title-line\"><\/div>\n<\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\">\n<div id=\"Brid_1765944\" class=\"tpd-featured-video bridtv\"><\/div>\n<p>The budget motel chain Motel 6 is being acquired by the parent company of Oyo, a <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/hotel\/\" target=\"_blank\" rel=\"noopener\" title>hotel<\/a> operator based in India.<\/p>\n<div class=\"article-paywall\">\n<p>The <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/New-York\/\" target=\"_blank\" rel=\"noopener\" title>New York<\/a>-based <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/investment\/\" target=\"_blank\" rel=\"noopener\" title>investment<\/a> firm Blackstone, which owns Motel 6&rsquo;s parent company G6 Hospitality, announced Friday that the deal would be an all-cash transaction worth $525 million.<\/p>\n<p>The transaction will also include the sale of the Studio 6 motel brand, which caters to customers seeking extended stays. The deal is expected to close by the end of the year.<\/p>\n<p>Oyo, which launched in India just over a decade ago, has been&nbsp;<a href=\"https:\/\/apnews.com\/travel-general-news-b8970fd894ec4f4db4df0b743833b8c6\" target=\"_blank\" rel=\"noopener\" title>expanding its footprint<\/a>&nbsp;in the U.S. over the past few years. The company says it currently operates 320 hotels across 35 states and is aiming to add 250 more this year.<\/p>\n<p>&ldquo;This acquisition is a significant milestone for a startup company like us to strengthen our international presence,&rdquo; Gautam Swaroop, OYO&rsquo;s international division chief, said in a statement.<\/p>\n<p>Blackstone had purchased Motel 6 and Studio 6 in 2012 for $1.9 billion. Since then, the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/glenn-youngkin-wins-gop-nomination-for-governor-of-virginia\/\" title=\"Glenn Youngkin Wins GOP Nomination For Governor Of Virginia\">private equity giant<\/a> says it has heavily invested in the brand and pursued a strategy that converted the chain into a franchise.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/?d\" target=\"_blank\" rel=\"noopener\" title> <\/a><\/strong><\/p>\n<p>&ldquo;This transaction is a terrific outcome for investors and is the culmination of an ambitious business plan that more than tripled our investors&rsquo; capital and generated over $1 billion in profit over our hold period,&rdquo; Rob Harper, the head of Blackstone Real Estate Asset Management Americas, said in a statement.<\/p>\n<p>Under the deal, Oravel Stays, which owns Oyo, will acquire G6 Hospitality.<\/p>\n<\/div>\n<p> <script data-cfasync=\"false\" src=\"http:\/\/www.washingtonexaminer.com\/cdn-cgi\/scripts\/5c5dd728\/cloudflare-static\/email-decode.min.js\"><\/script><script>!function(){var g=window;g.googletag=g.googletag||{},g.googletag.cmd=g.googletag.cmd||[],g.googletag.cmd.push(function(){g.googletag.pubads().setTargeting(\"has-featured-video\",\"true\")})}();<\/script><script>var _bp=_bp||[];_bp.push({\"div\":\"Brid_1765944\",\"obj\":{\"id\":\"27789\",\"width\":\"1280\",\"height\":\"720\",\"stickyDirection\":\"below\",\"video\":\"1765944\"}});<\/script><script defer src=\"https:\/\/services.brid.tv\/player\/build\/brid.min.js\"><\/script><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<div class=\"tdb-block-inner td-fix-index\"><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Motel 6 has been sold to the Indian hotel operator&#8217;s parent company for $525 million. The budget motel chain is being acquired by Oyo&#8217;s parent company, with the deal announced by Blackstone, the New York-based investment firm that owns G6 Hospitality, Motel 6\u2019s parent company. This all-cash transaction will also include the Studio 6 brand, which caters to guests looking for extended stays. The acquisition is expected to be finalized by year-end. Oyo, which started in India over ten years ago, has been expanding its presence in the U.S., currently operating 320 hotels across 35 states and planning to add another 250 this year. Gautam Swaroop, head of OYO\u2019s international division, stated that this acquisition marks a significant step for their startup in enhancing their global footprint. Blackstone had previously purchased Motel 6 and Studio 6 in 2012 for $1.9 billion and has since invested significantly in transforming the brand into a franchise model. Rob Harper from Blackstone Real Estate Asset Management Americas noted that this transaction represents a successful outcome for investors and reflects an ambitious business strategy that more than tripled investor capital while generating over $1 billion in profit during their ownership period. Under this agreement, Oravel Stays\u2014Oyo&#8217;s owner\u2014will take over G6 Hospitality<\/p>\n","protected":false},"author":2634,"featured_media":2344486,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/09\/motel-6-.webp","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[38015,41451,41452,41450,32076],"class_list":["post-2344485","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-hospitality-industry","tag-hotel-sale","tag-indian-operator","tag-motel-6","tag-washington-examiner"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/09\/motel-6-.webp","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2344485","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2634"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2344485"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2344485\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2344486"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2344485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2344485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2344485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}