The parent company of Oyo, a rapidly expanding Indian hotel operator, is set to take over these brands in an all-cash transaction valued at $525 million. Blackstone, the owner of Motel 6's parent company G6 Hospitality, shared that the deal is expected to be concluded by the end of this year.

Oyo has been making strides in the U.S. market in recent years, currently operating 320 hotels across 35 states. With plans to add 250 more establishments this year, Oyo is aiming to strengthen its international presence through this acquisition. Gautam Swaroop, OYO's international division chief, expressed that this deal marks a significant milestone for the company, which started in India just over a decade ago.

This acquisition marks the latest chapter in the journey of Motel 6 and Studio 6 under Blackstone's ownership. Acquired by Blackstone in 2012 for $1.9 billion, the investment firm has implemented a strategy that transformed the motel chain into a franchise model. Rob Harper, the head of Blackstone Real Estate Asset Management Americas, highlighted the success of this strategy, stating that it has generated over $1 billion in profit and tripled investors' capital over the hold period.

Under this agreement, Oyo's parent company, Oravel Stays, will take over G6 Hospitality, paving the way for a new phase in the operation of Motel 6 and Studio 6. With this acquisition, Oyo is poised to further expand its presence in the United States and solidify its position as a key player in the global hospitality industry.