AZB & Partners has acted for Oravel Stays, the parent of e-hotelier OYO, on its proposed $525 million acquisition of U.S. motel operator G6 Hospitality from PE fund Blackstone. Simpson Thacher & Bartlett acted for Blackstone on the deal.
G6 Hospitality is a leading economy lodging franchisor with nearly 1,500 economy lodging locations under the Motel 6 brand and the Studio 6 Extended Stay brand in the United States and Canada.
This deal is a part of OYO’s strategic expansion in the U.S. Since its launch in the region in 2019, OYO has steadily expanded its footprint, currently operating over 320 hotels across 35 states.
“This acquisition is a significant milestone for a startup company like us to strengthen our international presence. Motel 6’s strong brand recognition, financial profile and network in the US, 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 separate entity,” said Gautam Swaroop, CEO of OYO International, in a statement.
AZB’s deal team comprised senior partner Niladri Maulik, partner Anshuman Vikram Singh, senior associate Anisha Dash, and associates Vidit Parmar, Shivangi Bhardwaj, and Gunjan Hariramani.
The Simpson Thacher team was led by partner Anthony King, and included Quinn Cronan, Michael Chen, Haley O'Connor and Aydin Benoit-Savci (M&A); Krista Miniutti (real estate); Brian Gluck and Dennis Durkin (credit); Nancy Mehlman, Eli Shalam and Michael Leitner (tax); Jeannine McSweeney and Joshua Stephens (executive compensation and employee benefits); Peter Guryan, Richard Jamgochian and Maxime Fischer-Zernin (antitrust); Lori Lesser and Bobbie Burrows (intellectual property); David Caldwell (anti-corruption); Steven DeLott (insurance); Michael Isby (environment); and Mark Skerry (CFIUS).
