Oravel Stays to acquire G6 Hospitality from Blackstone Real Estate for $525m.

Oravel Stays, the parent company of the global travel technology company OYO, agreed to acquire G6 Hospitality, an economy lodging franchisor, from Blackstone Real Estate, a real estate investor, for $525m. "This acquisition is a significant milestone for a startup company like us to strengthen our international presence. Motel 6's strong brand recognition, financial profile and network in the US, combined with OYO's entrepreneurial spirit will be instrumental in charting a sustainable path forward for the company which will continue to operate as a separate entity," Gautam Swaroop, OYO CEO.