The Motel 6 and Oyo deal is expected to close by the end of this year|J. Stephen Conn|CC BY-NC 2.0

G6 Hospitality, the parent company of Motel 6 and Studio 6, has been acquired by India-based hotel operator Oyo for $525 million in an all-cash transaction that will see the Indian hospitality startup expand to the US. The deal is expected to close by the end of 2024.

SoftBank-backed Oyo was founded in 2012. It currently operates 320 hotels in 35 states and plans to add about 250 more this year.

G6 Hospitality, owned by Blackstone Investment Group, generates approximately $1.7 billion in gross room revenue from around 1,500 properties.

Oyo International CEO Gautam Swaroop emphasized that Motel 6 will continue operating as a separate entity. The company was valued at $10 billion before the 2020 pandemic.