Oyo buys US-based G6 Hospitality from Blackstone for $525 mn, adds 1,500 hotels
22 hours, 52 minutes ago

Oyo buys US-based G6 Hospitality from Blackstone for $525 mn, adds 1,500 hotels

Live Mint  

Bengaluru: Ritesh Agarwal-led Oyo has completed the acquisition of US-based G6 Hospitality, which operates the Motel 6 and Studio 6 brands, from Blackstone Real Estate for $525 million and the deal is projected to increase its Ebitda to over ₹2,000 crore in FY26, the travel-tech startup said in a statement on Monday. The transaction is expected to add about 1,500 franchised hotels across the US and Canada to Oyo's portfolio, which will significantly expand its North American presence. Sonal Sinha has been appointed as the CEO of G6 Hospitality, and Oyo plans to add over 150 hotels through the next year under the Motel 6 and Studio 6 brands. Also read: As travel rebounds, Oyo checks in its first full-year net profit Its other portfolio companies include DanCenter, a vacation home management company, which handles 12,000 properties across Denmark, Sweden, Norway, and Germany, and Belvilla, which has 65,000 holiday homes across 20 countries, and Traum-Ferienwohnungen, an online vacation rental platform with 100,000 homes.

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History of this topic

OYO to acquire iconic Motel 6 brand in $525 million all-cash deal
3 months ago

OYO to acquire iconic Motel 6 brand in $525 million all-cash deal

The Hindu  

IPO-bound travel tech platform OYO on Saturday announced it has agreed to acquire iconic American budget hotel chain Motel 6 and Studio 6 brands from Blackstone Real Estate for $525 million in an all-cash transaction, as the Indian unicorn eyes expansion in the U.S. Oravel Stays, the parent company of OYO stated that it has agreed to acquire G6 Hospitality, …

OYO acquires G6 hospitality for 525 million dollars, expands US footprint
3 months ago

OYO acquires G6 hospitality for 525 million dollars, expands US footprint

New Indian Express  

Oravel Stays, the parent company of the global travel technology firm OYO, announced on Saturday that it is acquiring US-based G6 Hospitality from Blackstone Real Estate for $525 million in an all-cash deal. G6 Hospitality, a leading economy lodging franchisor, is the parent company of the well-known Motel 6 and Studio 6 brands. The franchise network of Motel 6 generates …

Why Oyo boss Ritesh Agarwal must clean up before the IPO
2 years ago

Why Oyo boss Ritesh Agarwal must clean up before the IPO

Live Mint  

On 2 December, at noon, a man walked into Rajdoot Hotel with a suitcase. Recently, the federation wrote to the market regulator, Securities and Exchange Board of India, alleging that “Oyo is responsible for the systemic depredation of the budget segment hotel business”. Since we have a revenue sharing arrangement, it’s in both the hotels’ and Oyo’s interest to charge …

OYO to cut 10% employee base, to let go 600 from tech and hire 250 in sales
2 years ago

OYO to cut 10% employee base, to let go 600 from tech and hire 250 in sales

Hindustan Times  

IPO-bound travel tech firm OYO on Saturday announced it will downsize about 10 per cent of its 3,700-employee base by cutting 600 jobs in the technology and corporate verticals and hiring 250 members, primarily in the relationship management teams. It is downsizing its product & engineering, corporate headquarters, and OYO Vacation Homes teams, while it adds people to the partner …

OYO to stop investing in capex of hotels, says India CEO Rohit Kapoor
3 years, 4 months ago

OYO to stop investing in capex of hotels, says India CEO Rohit Kapoor

Business Standard  

OYO to stop investing in capex of hotels, says India CEO Rohit Kapoor Three-pronged revamp strategy includes getting out of investing in capex of hotels, moving away from offering minimum guarantees to hotel partners and giving them flexibility to determine room tariff Premium Rohit Kapoor, OYO Rooms CEO for India and south east Asia Surajeet Das Gupta New Delhi Global …

OYO raises $660 mn debt from investors
3 years, 5 months ago

OYO raises $660 mn debt from investors

Live Mint  

Bengaluru: Hospitality unicorn OYO Hotels and Homes Ltd on Friday said that it raised debt funding worth $660 million from global institutional investors, including Fidelity Investments. “We are delighted by the response to OYO’s maiden TLB capital raise that was oversubscribed by leading global institutional investors. “It’s heartening for me to see the strong interest from the investor community in …

Oyo CEO says company’s business has rebounded from spring nadir
4 years, 2 months ago

Oyo CEO says company’s business has rebounded from spring nadir

Live Mint  

India-based hotel startup Oyo Hotels & Homes has seen a key financial figure rebound to 20% below pre-pandemic levels after falling as much as 60% earlier in the year, Chief Executive Ritesh Agarwal said. Speaking at The Wall Street Journal’s Tech Live conference on Tuesday, Mr. Agarwal said the figure, which Oyo labels “gross margin,” was at its lowest around …

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