An Indian tech company specializing in hospitality is preparing to acquire Motel 6, as announced by the parent company on Friday.

In a statement, Blackstone Real Estate disclosed an agreement with Oravel Stays to purchase G6 Hospitality, which includes Motel 6 and Studio 6, for $525 million.

Oravel Stays, located in Gurgaon, India, operates under the OYO brand and plans to keep G6 Hospitality as a distinct entity.

“This acquisition marks a significant achievement for a startup like us, helping to enhance our global footprint,” stated Gautam Swaroop, CEO of OYO International, in the announcement. “Motel 6’s established brand strength, financial stability, and extensive US network, combined with OYO’s innovative approach, will be vital for moving the company forward sustainably.”

The deal will be made entirely in cash and is anticipated to finalize in the fourth quarter of this year.

What does Oravel Stays own?

Oravel Stays initiated operations of OYO hotels in the U.S. back in 2019 and currently manages more than 320 hotels in 35 states. Overall, the company oversees over 157,000 hotels and homes across 35 countries.

In the press release, the company described itself as “a worldwide platform that enables entrepreneurs and small businesses in the hotel and home sector by offering comprehensive technology products and services.”