OYO Hotels & Homes is an Indian multinational hospitality chain of leased and franchised hotels, homes, and living spaces. It was founded in 2012 and is headquartered in Gurgaon, Haryana, India. As of 2020, it has more than 43,000 properties and 1 million rooms across 800 cities in 80 countries.
According to reports, OYO has acquired Motel 6 for $525 million USD in an all-cash transaction aimed at expanding the company’s international presence in North America.
The report further mentions that this acquisition deal is expected to close in the fourth quarter of this year and will add around 1,400 properties across the United States to its portfolio.
Motel 6 is a chain of budget motels with locations in the United States and Canada. It was founded in 1962 and is headquartered in Carrollton, Texas.
