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Global Travel Technology Company OYO To Acquire G6 Hospitality From Blackstone Real Estate for $525M
OYO | September 23, 2024
New Delhi & Dallas – September 23, 2024 – Oravel Stays, the parent company of the global travel technology company OYO, today 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. OYO has steadily expanded its footprint in the United States since its launch in the region in 2019 and currently operates over 320 hotels across 35 states. In 2023, OYO added nearly 100 hotels to its US portfolio and aims to add ~250 hotels in 2024. Motel 6’s franchise network pro...
OYO Hotels & Homes Appoints Troy Alstead as Independent Member of the Board
OYO Hotels and Homes | May 1, 2020
New York/San Francisco, May 01, 2020: OYO Hotels & Homes today announced the appointment of Troy Alstead as an independent member of the company’s board of directors. He will join the board that has Industry experts like Gerardo Issac (Gerry) Lopez, Operating Partner at SoftBank Vision Fund, Betsy Atkins, CEO & Founder of Baja Corporation, Munish Varma, SoftBank Investment Advisers, Bejul Somaia, Managing Director, Lightspeed Venture Partners and Mohit Bhatnagar, Managing Director, Sequoia Capital and Aditya Ghosh making it a powerful, diverse, and truly global combination. As an independent member of the Board, Troy will play a ...
OYO Hotels & Homes Offers Free Stays to Medical Personnel Fighting the Spread of COVID-19
OYO Hotels & Homes | March 25, 2020
OYO Hotels & Homes is opening the doors to its hotels and offering free stays to doctors, nurses and other medical first responders who are helping in the fight against Coronavirus (Covid-19). Beginning March 24, medical first responders will receive free accommodations at any OYO Hotel in the United States so they can sleep, shower or just get off their feet and recharge. “All of us at OYO are grateful for the bravery and sacrifices all the medical personnel are making to save lives and stop the spread of Covid-19,” said Ritesh Agarwal, Founder and Group CEO, OYO Hotels & Homes. “Our hearts go out to all those impact...
OYO Announces Partnership With Biz2Credit to Provide Small Business Financing Options to Hotel Owners
OYO Hotels and Homes | October 3, 2019
NEW YORK, NY, October 3, 2019 – OYO, the world's third-largest and fastest-growing chain of hotels, homes and spaces*, has partnered with Biz2Credit, a leading online financing resource for small businesses, to provide working capital and commercial real estate loans to existing and potential hotel partners across the United States. The partnership with Biz2Credit will aid its efforts to provide hotel owners with fast financing efficiently for a wide range of purposes, including renovation, redesign, infrastructure upgrade and investment in technology for improved revenue management and operations. “We are excited about partnering with...
OYO Hotels Partners With Highgate to Open Flagship OYO Hotel & Casino Las Vegas
OYO Hotels & Homes | August 23, 2019
Las Vegas, NV -- August 23, 2019 -- OYO Hotels & Homes, the world’s third-largest and fastest-growing hotel chain, today announced that it has partnered with Highgate to create its first key flagship property in Las Vegas, OYO’s first property in this lively city - OYO Hotel & Casino Las Vegas. Located near the corner of the famed Las Vegas Strip on Tropicana, OYO Hotel & Casino provides 657 rooms across nineteen floors and a 35,000 square-foot casino. This hotel was earlier operated as Hooters Casino Hotel. Additional amenities include two signature restaurants, four bars, a fitness center, and an outdoor pool. The property w...
