The budget motel chain Motel 6 is being acquired by the parent company of Oyo, a hotel operator based in India. The New York-based investment firm Blackstone announced Friday that the deal would be an all-cash transaction worth $525 million. Blackstone owns Motel 6’s parent company G6 Hospitality, which also operates the Studio 6 motel brand included in the deal. The transaction is expected to close by the end of the year. Oyo has been expanding its footprint 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. The post Motel 6 sold to Indian hotel operator for $525 million appeared first on News Ch
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