Oyo to Buy Motel 6 for $525 Million in U.S. Expansion Bid
Photo Credit: A Motel 6 hotel in Washington, Pennsylvania. Motel 6
Skift Take
Oyo, based in India, has tried for years to gain traction in the U.S., but it has claimed that competitors have played hardball. It's now betting that buying a network is its best way to gain scale fast.
Oyo, the India-based hotel giant, has agreed to acquire the Motel 6 and Studio 6 hotel brands from Blackstone for $525 million in an all-cash deal, Blackstone said in a press release.
The big picture: This acquisition marks Oyo's second attempt to expand in the U.S. market ahead of the Softbank-backed startup's ongoing effort to go public in India.
Oyo CEO and co-founder Ritesh Agarwal confirmed the deal to Skift. The Wall Street Journal was firs
