OYO to buy G6 Hospitality for $525 million

INDIA-BASED ORAVEL Stays, the parent company of the global travel technology company OYO, has agreed to purchase G6 Hospitality, franchiser for the
economy Motel 6 and Studio 6 brands, for $525 million from Blackstone Real Estate. The all-cash transaction is expected to close in the fourth quarter, subject
to customary closing conditions.

Since launching in the U.S. in 2019, OYO has expanded to operate more than 320 hotels across 35 states, according to a joint statement from the companies.
It aims to add around 250 hotels to its network this year, offering a technology suite, global distribution network and marketing expertise.

“This acquisition is a significant milestone for a startup company like us to strengthen our international presence,” said Gautam Swaroop, CEO of OYO
International. “Motel 6’s strong brand recognition, financial profile and network in the US, combined with OYO’s entrepreneurial spirit will be instrumental
in charting a sustainable path forward for the company which will continue to operate as a separate entity.”