Exclusive | Motel 6 Sold to Oyo, Indian Hotel Giant That Is Ramping Up in U.S.

Oyo is acquiring the world's largest economy motel chain, Motel 6, from Blackstone Group.

SoftBank-backed Oyo will pay more than $1 billion for Motel 6 and expand its budget-hotel brand.

Motel 6 has more than 1,400 locations around the world, most of them in the U.S.

The deal is a major coup for Oyo, which has been rapidly expanding in the U.S. in recent years.

Oyo has already acquired several other budget-hotel chains in the U.S., including Hooters Casino Hotel and the Red Roof Inn.

The acquisition of Motel 6 will give Oyo a major presence in the U.S. budget-hotel market.

Oyo is betting that there is a growing demand for budget-friendly hotels in the U.S.

The company is targeting millennials and other budget-conscious travelers.

Oyo is also investing in technology to improve the guest experience at its hotels.

The deal is expected to close in the first half of 2023.

Once the deal is complete, Oyo will become the world's largest budget-hotel chain.

The acquisition of Motel 6 is a major milestone for Oyo, which is rapidly expanding its global footprint.

Conclusion

The acquisition of Motel 6 is a major coup for Oyo, which has been rapidly expanding in the U.S. in recent years.

The deal will give Oyo a major presence in the U.S. budget-hotel market and is a major milestone for the company, which is rapidly expanding its global footprint.