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OYO completes acquisition of G6 Hospitality for $525 million
The Daily Guardian
|December 24, 2024
OYO has completed its acquisition of Motel 6 and Studio 6 brands, from Blackstone Real Estate for USD 525 million, marking a significant milestone in expanding the company's global footprint, the online hotels and hospitality services provider company said on Monday.
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On September 20, OYO agreed to acquire US-based G6 Hospitality, the parent company of the Motel 6 and Studio 6 brands, in an all-cash transaction.
As per a statement from OYO on Monday, the deal is projected to increase OYO's EBITDA to over Rs 2,000 crore in the upcoming financial year - 2025-26. Motel 6 is expected to contribute an EBITDA of over Rs 630 crore in the coming financial year.
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