OYO acquires G6 Hospitality from Blackstone for $525mn

In a major move that is set to shake up the hospitality industry, Indian hotel chain OYO has acquired leading US hotel chain G6 Hospitality from Blackstone for a whopping $525 million. This acquisition marks a significant milestone for OYO as it expands its footprint in the United States and establishes itself as a major player in the global hotel market.

G6 Hospitality, which operates the popular budget hotel brands Motel 6 and Studio 6, has over 1,400 properties across North America. With this acquisition, OYO will now have access to G6 Hospitality’s extensive network of hotels, allowing it to offer a wider range of accommodation options to its customers.

Ritesh Agarwal, Founder and CEO of OYO, expressed his excitement about the acquisition, stating that it aligns with the company’s vision of providing affordable and quality accommodation to travelers around the world. He also highlighted the potential for synergies between OYO and G6 Hospitality, which will enable both brands to benefit from each other’s strengths and expertise.

The acquisition of G6 Hospitality comes at a time when the hospitality industry is facing unprecedented challenges due to the COVID-19 pandemic. With travel restrictions in place and a decline in tourism, hotel chains have been struggling to stay afloat. However, OYO’s bold move to acquire G6 Hospitality demonstrates its confidence in the long-term prospects of the industry and its commitment to driving innovation and growth.

Industry experts have hailed the acquisition as a strategic move by OYO to strengthen its presence in the US market and enhance its competitive position against established players. With the combined strengths of OYO and G6 Hospitality, the newly formed entity is poised to disrupt the hospitality industry and set new standards for customer experience and value.

Overall, the acquisition of G6 Hospitality by OYO is a game-changer that has the potential to reshape the landscape of the global hotel industry. As OYO continues to expand its reach and offerings, travelers can expect more affordable and convenient accommodation options, making it easier than ever to travel and explore new destinations.