OYO Acquires Motel 6 And Studio 6 For $525 Million

OYO is a platform to book hotels for stays across the country. It is among the top Indian tech platforms that provide cheap and affordable stays. OYO and its parent company Oravel Stays recently announced the Motel 6 and Studio 6 acquisition. Another big business giant Blackstone Real Estate will be selling the company, Motel 6 and Studio 6 for $525 million in all cash transactions. OYO is planning to expand further in the United States and Canada. Thus, Motel 6’s existence in both countries with more than 1500 hotels will help achieve its goals. It will be a win-win situation for both OYO and Motel 6 brands.

OYO Will Soon Acquire The Motel 6 For $525 Million

OYO is a company that has its existence all over India. However, it is still growing in the US and Canadian markets. The acquisition of Motel 6 will be profitable. It will help to provide OYO with a well-established network in the country. While OYO with its entrepreneurial spirit will help in its further expansion in several hotels and more profits. Apart from that, OYO is also going to have its IPO soon. It will help in its further expansion in India. The Motel 6 acquisition will help the company achieve its international goals.

Oravel Stays announced the acquisition of G6. Motel 6 and Studio 6 are its subsidiary. The acquisition is an interesting one. It will create more affordable options for Indian travellers to stay in the US and Canada during their vacations. OYO is also not lacking growth in the US. It successfully built the company’s presence in the United States with more than 320 hotels. In the previous year itself, the company started handling 100 new Oyos in America. While it targets 250 new ones in the country by 2024 end. On the other hand, Blackstone also invested equally in Motel 6’s growth. It has travelled a journey to more than 1500 hotels.

Oyo will help MOtel 6 in its further expansion with the help of its business strategies. The deal will take place for $525 million. Oyo has cracked the code for the Indian market’s hotel needs. The vast knowledge and experience that Motel 6 carries will help Oyo in its expansion. Investors are looking forward to its IPO in India. Apart from that Oyo’s founder Ritesh Agarwal also made his appearance in the Indian business reality show, Shark Tank India Season 3. There will be more positive upliftment coming from the company for customers. According to its founder, Oyo has its most customers from spiritual travels. Thus, it focuses on launching more stay facilities near religious places in India.