The Indian hospitality startup OYO, established in 2013, will be buying G6 Hospitality, the owner of Motel 6 and Studio 6 in the United States, by the end of the year. In an all-cash transaction, the startup will put down a payment of 525 million dollars in a transaction which will allow for OYO to scale up in the United States.
“This acquisition is a significant milestone for a startup company like us to strengthen our international presence,” said Gautam Swaroop, the CEO of OYO. “Motel 6′s strong brand recognition, financial profile and network in the U.S., combined with OYO’s entrepreneurial spirit, will be instrumental in charting a sustainable path forward for the company which will continue to operate as a…