Motel 6 sold to Indian hotel operator Oyo for $525 million

Blackstone, the parent company of Motel 6, has announced the sale of the budget motel chain to Oyo, a hotel operator from India, in an all-cash transaction worth $525 million. The deal, which includes the Studio 6 brand, is expected to close by the end of the year, allowing Oyo to expand its presence in the U.S. after operating 320 hotels across 35 states. Blackstone had purchased Motel 6 in 2012 for $1.9 billion and has since heavily invested in the brand, turning it into a successful franchise.

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