Blackstone announced on Friday that it has agreed to sell the budget hotel brand Motel 6 to the owner of India-based hotel giant OYO for $525 million in an all-cash transaction.
Oravel Stays, the parent company of OYO, will acquire G6 Hospitality, which controls both the Motel 6 and Studio 6 hotel brands. Blackstone acquired the brands from Accor for $1.9 billion in May 2012.
