OYO to buy US hotel chain Motel 6, which operates 1,500 hotels, for ₹4,400 crore

OYO will be buying iconic US budget hotel chain Motel 6 from its Blackstone-owned parent G6 Hospitality in an all-cash transaction for $525 million (nearly ₹4,400 crore). The sale, expected to close by 2024-end, would include Motel 6's offshoot hotel brand Studio 6. Motel 6 was founded in 1962 in California and currently operates about 1,500 hotels across North America.