Oravel Stays, the parent company of the global travel technology company OYO, recently announced that it has agreed to acquire 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, in an all-cash transaction.
This deal was spearheaded by Rakesh Prusti, a native of Bargarh District in Odisha and Group General Counsel of OYO, who played a pivotal role with other OYO leaders in negotiating and executing the agreement that will further cement OYO’s presence in the U.S.
Speaking on the deal, Rakesh Prusti, Group General Counsel, OYO said, “This is a milestone for OYO as we aim to bring our signature hospitality experience to the US markets. Motel6 has a good presence in America and Canada, and this partnership will help us better cater to the needs of travelers, offering them greater convenience and affordability”.
The partnership will involve OYO integrating its technology, operational expertise, and premium guest experience model into Motel6 properties, aiming to enhance service quality, increase operational efficiency, and improve customer satisfaction.
