Motel 6 is set to be acquired by Indian-based travel company Oyo in an all-cash deal. The acquisition includes the sale of the extended-stay brand Studio 6. Oyo's CEO, Gautam Swaroop, highlighted the significance of this acquisition for Oyo's global expansion, while Motel 6 will continue to operate independently. Oyo, which has been expanding in the U.S. since 2018, manages hotels across 35 states. Blackstone's sale comes as the U.S. hotel industry recovers post-pandemic, with occupancy and room rates for economy hotels declining slightly over the past year.
