Mon Sep 23 21:19:19 UTC 2024: ## Motel 6 Sold to Indian Hotel Operator in $525 Million Deal
**Santa Barbara, California** – The iconic Motel 6, known for its budget-friendly accommodations and “We’ll leave the light on for you” slogan, is being sold to Oyo, an Indian hotel operator, in a $525 million cash deal. The transaction, announced Friday, includes the sale of the Studio 6 motel brand as well.
Blackstone, the private equity firm that purchased Motel 6 and Studio 6 in 2012 for $1.9 billion, is behind the sale. Since acquiring the chains, Blackstone has heavily invested in the brands and converted them into franchises.
Oyo, which launched in India in 2013, has been rapidly expanding its presence in the U.S. market in recent years. The company currently operates 320 hotels across 35 states and aims to add another 250 this year. This acquisition will further bolster Oyo’s presence in the American lodging market.
The Motel 6 franchise operates over 1,450 hotels in 49 states and a few in Canada, making it a recognizable name in the budget lodging sector. The deal is expected to close by the end of the year.
The sale of Motel 6 marks a significant change for the brand, which was founded in 1962 in Santa Barbara, California. While the chain’s original location is still open, the sale reflects a shift in ownership and potentially a new direction for the iconic American brand.
The transaction comes amidst recent controversies surrounding Motel 6. In 2018, the chain settled a class-action lawsuit after allegations that it provided guest lists to U.S. Immigration and Customs Enforcement (ICE) agents.
First Piper 