US’ Motel 6 sold to hotel operator Oyo for $525 million

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, which owns Motel 6’s parent company G6 Hospitality, announced Friday that the deal would be an all-cash transaction worth USD 525 million.

The transaction will also include the sale of the Studio 6 motel brand, which caters to customers seeking extended stays. The deal is expected to close by the end of the year.