According to reports, Motel 6 is changing hands in an all cash deal.
The Lowdown
The NYT reports that India’s Oyo International which has been ambitiously expanding in America since 2019 is set to buy the no-frills budget chain.
Per the terms of the deal, Oyo is forking over $525m in an all cash deal and the deal will also include Motel 6’s spinoff Studio 6’s assets.
Motel 6 will continue to operate as its own entity.