December 17, 2024
New Delhi & Dallas – Oravel Stays, the parent company of the global travel technology company OYO, today announced that it has completed its previously announced acquisition of G6 Hospitality, the leading economy lodging franchisor and parent company of the iconic Motel 6 and Studio 6 brands, from Blackstone Real Estate for $525 million.
Advisors
Goldman Sachs & Co. LLC acted as Blackstone’s lead advisor and Jones Lang LaSalle Securities, LLC and PJT Partners acted as financial advisors. Simpson Thacher & Bartlett LLP served as Blackstone’s legal advisor.
Deutsche Bank & Mizuho Securities served as OYO’s advisor in various capacities.
The transaction was announced on September 20, 2024.
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About OYO
OYO is a global platform that empowers entrepreneurs and small businesses with hotels and homes by providing full-stack technology products and services that aim to increase revenue and ease operations; bringing easy-to-book, affordable, and trusted accommodation to customers around the world. OYO offers 40+ integrated products and solutions to patrons who operate over 175K hotel and home storefronts in more than 35 countries including India, Europe and Southeast Asia. For more information, visit here
About G6 Hospitality LLC
G6 Hospitality LLC is a leading economy lodging franchisor, with nearly 1,500 economy lodging locations under the iconic Motel 6 brand and the Studio 6 Extended Stay brand in the United States and Canada. G6 Hospitality is committed to making hospitality accessible to all through responsible business practices and unparalleled opportunity for franchisees to build a legacy through ownership. Both Motel 6 and Studio 6 were recognized in the 2024 Entrepreneur Franchise 500® report, with Motel 6 ranking in the top 50 of all franchises. The Carrollton, Texas, based company was named a 2024 Leader in Diversity by Dallas Business Journal. For more information, please visit http://www.g6hospitality.com/.
About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US $336 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, data centers, residential, office and hospitality. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors including Blackstone Real Estate Income Trust, Inc. (BREIT). Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).
CONTACTS:
OYO
Anupriya Malik
[email protected]
G6 Hospitality
Maggie Giddens
[email protected]
Blackstone
Jeffrey Kauth
[email protected]