>The budget motel chain Motel 6 is being acquired by the parent company of Oyo, a hotel operator based in India.
>The New York-based investment firm Blackstone, which owns Motel 6’s parent company G6 Hospitality, announced Friday that the deal would be an all-cash transaction worth $525 million.
>The transaction will also include the sale of the Studio 6 motel brand, which caters to customers seeking extended stays. The deal is expected to close by the end of the year.
>Oyo, which launched in India just over a decade ago, has been expanding its footprint in the U.S. over the past few years. The company says it currently operates 320 hotels across 35 states and is aiming to add 250 more this year.
OYO even in Murica.Thank God it was not named “Motel U.S.” like “U.S. Steel”, lol.
!ping IND
Acentooate on
This is a National Security issue; lower middle class men who travel for work *depend* on these institutions for one night stands with $200/hourly sex workers. You’re going to put that kind of American staple completely in the hands of *Indians*?! Hey, let’s throw in all the La Quinta Inns too while we′re at it; then we can just do our cheap blow cut with baby powder and chalk in the parks like a bunch of filthy animals!
EyeraGlass on
>Blackstone had purchased Motel 6 and Studio 6 in 2012 for $1.9 billion
Generated a billion in profits since then… But they seem to be getting it off the books before break-even?
3 Comments
>The budget motel chain Motel 6 is being acquired by the parent company of Oyo, a hotel operator based in India.
>The New York-based investment firm Blackstone, which owns Motel 6’s parent company G6 Hospitality, announced Friday that the deal would be an all-cash transaction worth $525 million.
>The transaction will also include the sale of the Studio 6 motel brand, which caters to customers seeking extended stays. The deal is expected to close by the end of the year.
>Oyo, which launched in India just over a decade ago, has been expanding its footprint in the U.S. over the past few years. The company says it currently operates 320 hotels across 35 states and is aiming to add 250 more this year.
OYO even in Murica.Thank God it was not named “Motel U.S.” like “U.S. Steel”, lol.
!ping IND
This is a National Security issue; lower middle class men who travel for work *depend* on these institutions for one night stands with $200/hourly sex workers. You’re going to put that kind of American staple completely in the hands of *Indians*?! Hey, let’s throw in all the La Quinta Inns too while we′re at it; then we can just do our cheap blow cut with baby powder and chalk in the parks like a bunch of filthy animals!
>Blackstone had purchased Motel 6 and Studio 6 in 2012 for $1.9 billion
Generated a billion in profits since then… But they seem to be getting it off the books before break-even?