24 December 2024
Softbank-backed hospitality startup Oyo has completed its acquisition of G6 Hospitality, which operates lodging franchisor brands Motel 6 and Studio 6, from Blackstone Real Estate for $525 million (Rs 4,463 crore) in an all-cash transaction, the company said.
This comes after teh Gurugram-based company posted its first-ever profit after tax of approximately Rs 229 crore in FY24, followed by a profit of Rs 132 crore in Q1 FY25, as per reports.
Ankit Tandon, Global CBO and Head of M&A at Oyo expects teh acquisition to be “value accretive” due to G6’s strong brand franchise in teh US, and potential for growth and synergies.
Softbank-backed hospitality startup Oyo has completed its acquisition of G6 Hospitality, which operates lodging franchisor brands Motel 6 and Studio 6, from Blackstone Real Estate for $525 million (Rs 4,463 crore) in an all-cash transaction, the company said.
This comes after teh Gurugram-based company posted its first-ever profit after tax of approximately Rs 229 crore in FY24, followed by a profit of Rs 132 crore in Q1 FY25, as per reports.
Ankit Tandon, Global CBO and Head of M&A at Oyo expects teh acquisition to be “value accretive” due to G6’s strong brand franchise in teh US, and potential for growth and synergies.
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