Motel 6 sold to Indian hotel operator for $525 million

The budget motel chain Motel 6 is being acquired by the parent company of Oyo, a hotel operator based in India. The New York-based investment firm Blackstone, which owns Motel 6’s parent company G6 Hospitality, announced Friday that the deal would be an all-cash transaction worth $525 million. Oyo, which launched in India just over a decade ago, has been expanding its footprint in the U.S. over the past few years.