The deal is expected to close before the end of the year, and would include the chain's offshoot hotel brand, Studio 6, indicating a significant expansion for Oyo in the U.S. market.
Gautam Swaroop, the chief executive of Oyo International, praised Motel 6's strong brand recognition, financial profile and network in the U.S., highlighting the strategic value of this acquisition.
Blackstone purchased Motel 6 in 2012 for $1.9 billion, and this transaction marks a terrific outcome for investors, generating over $1 billion in profit.
Motel 6 has been an indelible part of Americana since 1962, originally offering an all-cash $6-a-night rate, underpinning its budget-friendly appeal throughout the decades.
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