Oyo completes G6 Hospitality acquisition from Blackstone Real Estate for $525 million

Oyo has acquired G6 Hospitality, including Motel 6 and Studio 6 brands, from Blackstone Real Estate for $525 million. This acquisition will boost Oyo's earnings and expand its North American presence. Oyo's founder Ritesh Agarwal is increasing his stake in the company. The startup also reported its first profit and continues to grow in key markets.