Oyo snaps up US chain Motel 6 in $525 million-deal, eyes overseas expansion

Motel 6, a well-known budget hotel chain in the U.S., will be sold to India-based Oyo for $525 million. The deal includes Motel 6's offshoot brand, Studio 6, and is expected to close by year-end. Oyo aims to strengthen its U.S. presence with this acquisition.