OYO Acquires Iconic Motel 6 Brand in USD 525 Million All-Cash Deal

OYO Acquires Iconic Motel 6 Brand in USD 525 Million All-Cash Deal

By Nishang Narayan

Published on September 22, 2024

In a bold move to expand its presence in the US market, IPO-bound travel tech platform OYO has agreed to acquire the renowned American budget hotel chain Motel 6 and its offshoot, Studio 6, for USD 525 million in an all-cash transaction. OYO's parent company, Oravel Stays, announced the acquisition from Blackstone Real Estate, positioning the Indian unicorn for significant growth in the US hospitality sector. The deal is expected to close by the fourth quarter of 2024, subject to customary regulatory approvals.

Motel 6, an iconic name in the budget lodging segment with over 1,500 properties across the US and Canada, brings in a substantial gross room revenue of USD 1.7 billion. Under Blackstone's ownership, the brand underwent strategic transformation, shifting to an asset-light franchise model. The acquisition aligns with OYO's vision of strengthening its international footprint, especially in North America, where it currently operates more than 320 hotels across 35 states. In 2023 alone, OYO added nearly 100 hotels to its US portfolio and has plans to add 250 more in 2024.

Gautam Swaroop, CEO of OYO International, expressed enthusiasm about the acquisition: "This acquisition is a significant milestone for a startup company like ours, enabling us to build on Motel 6's strong brand recognition and financial foundation. Together, we aim to chart a sustainable path forward while maintaining Motel 6's iconic presence."

OYO plans to integrate its comprehensive technology suite, global distribution network, and marketing expertise to further elevate the Motel 6 and Studio 6 brands. With its technology-driven approach to hospitality, OYO aims to enhance guest experiences and drive continued financial growth for the newly acquired brands.

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Julie Arrowsmith, CEO of G6 Hospitality, welcomed the acquisition, stating, “OYO’s innovative approach will allow us to enhance our offerings and continue providing the value that Motel 6 guests have trusted for over six decades.” Blackstone's Rob Harper also highlighted the strong return on investment, noting that the deal tripled investors' capital and generated over USD 1 billion in profits.

This acquisition signals OYO's ambitions to solidify its standing in the global hospitality industry and marks another chapter in its aggressive international expansion strategy.


Royal Caribbean Group raises dividend by 33% to $1 per share

Royal Caribbean Group raises dividend by 33% to $1 per share

By Manu Vardhan Kannan

Published on September 14, 2025

Royal Caribbean Group (NYSE: RCL) has announced a significant increase in its shareholder returns, declaring a 33% hike in its quarterly dividend. The company’s Board of Directors approved a dividend of $1.00 per common share, payable on October 13, 2025, to shareholders of record at the close of business on September 25, 2025.

Jason Liberty, President and CEO of Royal Caribbean Group, said the move underscores the company’s confidence in its performance and long-term growth strategy. “Today’s dividend increase reflects both the strength of our performance and our commitment to return capital to shareholders. This increase in dividend, along with our ongoing share repurchase program, highlights our balanced approach to capital allocation, returning value to shareholders while funding future growth,” Liberty stated.

Royal Caribbean Group is a global leader in the vacation industry, operating a fleet of 68 ships across five brands that serve millions of guests annually. Its portfolio includes Royal Caribbean International, Celebrity Cruises, and Silversea, as well as land-based experiences such as Perfect Day at CocoCay and the Royal Beach Club collection. The company also holds a 50% joint venture in TUI Cruises, which manages brands like Mein Schiff and Hapag-Lloyd Cruises.

With a reputation for innovation and guest-focused experiences, Royal Caribbean Group continues to expand its global footprint while maintaining its commitment to responsible and sustainable growth.


Apeejay Surrendra Park Hotels Reports Rs 13 Crore Net Profit in Q1 FY26

Apeejay Surrendra Park Hotels Reports Rs 13 Crore Net Profit in Q1 FY26

By Manu Vardhan Kannan

Published on August 18, 2025

Apeejay Surrendra Park Hotels Limited (ASPHL) announced its financial results for Q1 FY26, recording a net profit of Rs 13 crore. Revenue from operations stood at Rs 154 crore, a 14% increase year-on-year, while operating EBITDA grew 16% YoY to Rs 45 crore. The company maintained an industry-leading occupancy of 92%, reaffirming its leadership in the hospitality sector.

ASPHL’s growth is fueled by expansion into Tier 2 and Tier 3 markets. The company recently signed an MoU to acquire and manage four leisure properties in Goa, Manali, Shimla, and Dharamshala, adding 138 rooms under its brand. These steps align with ASPHL’s strategy to broaden its presence in high-potential tourism destinations and double its key count to 5,750 over the next five years.

Flurys, ASPHL’s iconic bakery and confectionery brand, now operates 102 outlets nationwide, reflecting the company’s focus on expanding its market presence while integrating modern amenities with rich cultural heritage.

Commenting on the performance, Vijay Dewan, Managing Director, Apeejay Surrendra Park Hotels, said,

"We have delivered an extraordinary and best-ever Q1, setting a strong momentum for the year ahead. With topline growth of 14% and EBITDA growth of 16%, we recorded India’s highest occupancy of 92% and maintained leadership in RevPAR in the upper-upscale segment. ARR improved by 13% and RevPAR increased by 12%. With nearly 600 new rooms added, including a 41% rise in our asset-light model, and nationwide Flurys rollout, we are poised to scale faster, enhance margins, and deliver exceptional shareholder value."

ASPHL’s strong performance in Q1 FY26 underscores its strategic focus on market expansion, operational excellence, and premium guest experiences.


Marriott Announces Dividend and Expands Share Buyback Plan

Marriott Announces Dividend and Expands Share Buyback Plan

By Manu Vardhan Kannan

Published on August 10, 2025

Marriott International, Inc. has declared a quarterly cash dividend of 67 cents per share on its common stock, reaffirming its commitment to delivering shareholder value. The dividend will be paid on September 30, 2025, to shareholders who are on record as of August 21, 2025.

Alongside the dividend announcement, the hospitality giant also revealed an expansion of its share repurchase program. The board of directors has authorized the repurchase of an additional 25 million shares of its Class A common stock. This comes in addition to the approximately 7.4 million shares that were still available under previous authorizations as of July 30, 2025.

Marriott has already bought back 6.4 million shares this year, amounting to $1.7 billion. These moves reflect the company’s continued confidence in its financial stability and long-term performance, aiming to strengthen shareholder value through strategic capital allocation.

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