Iconic motel chain Motel 6 is being acquired by the parent company of Oyo, an Indian hotel operator, in a $525 million cash deal. Blackstone, which currently owns Motel 6 and Studio 6, announced the sale on Friday, stating they have heavily invested in the brand since purchasing it for $1.9 billion in 2012.
The iconic brand Motel 6 , which was founded in California, is being sold to an overseas hotel operator in a huge cash deal.on Saturday the chain is “being acquired by the parent company of Oyo , a hotel operator based in India.”
The investment firm known as Blackstone said Friday it will be a cash deal worth $525 million and include the sale of the Studio 6 motel brand. Blackstone owns the parent company of the motel chain.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.Blackstone had purchased Motel 6 and Studio 6 in 2012 for $1.9 billion.
Motel 6 Oyo Blackstone Hotel Acquisition Economy Lodging
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