Blackstone to Sell Motel 6 to OYO
09.23.24
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The Firm is representing Blackstone Real Estate in connection with its proposed sale of G6 Hospitality, the parent company of the Motel 6 and Studio 6 brands, to OYO, for $525 million. The transaction is expected to close in the fourth quarter of 2024, subject to the receipt of regulatory approvals and satisfaction of other customary closing conditions.
G6 Hospitality is a leading economy lodging franchisor with nearly 1,500 economy lodging locations under the iconic Motel 6 brand and the Studio 6 Extended Stay brand in the United States and Canada.
OYO is a global platform empowering entrepreneurs and small businesses with hotels and homes by bringing easy-to-book, affordable and trusted accommodation to customers around the world. Since its launch in the region in 2019, OYO has steadily expanded its footprint in the United States, currently operating over 320 hotels across 35 states.
The Simpson Thacher team includes Anthony King, Quinn Cronan, Michael Chen, Haley O’Connor and Aydin Benoit-Savci (M&A); Krista Miniutti (Real Estate); Brian Gluck and Dennis Durkin (Credit); Nancy Mehlman, Eli A. Shalam and Michael Leitner (Tax); Jeannine McSweeney and Joshua E. Stephens (Executive Compensation and Employee Benefits); Peter Guryan, Richard Jamgochian and Maxime Fischer-Zernin (Antitrust); Lori E. Lesser and Bobbie Burrows (Intellectual Property); David H. Caldwell (Anti-Corruption); Steven R. DeLott (Insurance); Michael R. Isby (Environmental); and Mark B. Skerry (CFIUS).