India’s OYO to Invest $10 Million in the US-based G6 Hospitality
Ritesh Agarwal-led OYO, the Indian hospitality unicorn, is set to invest $10 million in the US-based G6 Hospitality, which operates the popular budget hotel chains Motel 6 and Studio 6. The investment marks a significant move by OYO to strengthen its presence in the global hospitality market and enhance the digital presence of G6 Hospitality.
As per the latest reports, OYO will channel the funds into growing the Motel 6 website and the My6 mobile app, with the goal of boosting app downloads by 4X before the summer season. The investment is a testament to OYO’s commitment to expanding its global footprint and strengthening its partnerships with other hospitality companies.
G6 Hospitality, which was acquired by OYO last year from Blackstone Real Estate, operates a chain of over 400 budget hotels across the United States, with Motel 6 being its flagship brand. The company has been a leading player in the budget hotel segment, with a strong presence in the US market.
The investment by OYO will enable G6 Hospitality to further enhance its digital presence, with a focus on improving the user experience on its website and mobile app. The company plans to leverage OYO’s expertise in digital marketing and technology to attract more customers and increase bookings.
The investment is also expected to create new job opportunities in the US, with OYO and G6 Hospitality working together to develop new technologies and processes that will benefit both companies.
OYO’s investment in G6 Hospitality is a strategic move to expand its presence in the global hospitality market, which is expected to continue growing in the coming years. The company has already made significant inroads in the US market, with a presence in over 30 cities across the country.
In a statement, Ritesh Agarwal, the founder and CEO of OYO, said, “We are thrilled to invest in G6 Hospitality and support its growth ambitions. Our partnership with G6 Hospitality is a testament to our commitment to expanding our global footprint and creating new opportunities for our customers and partners.”
The investment by OYO in G6 Hospitality is also expected to benefit the Indian hospitality industry, which has been growing rapidly in recent years. The industry is expected to continue growing, driven by an increase in tourism and a rise in demand for budget and mid-range hotels.
In conclusion, OYO’s investment of $10 million in G6 Hospitality is a significant move that will enable the company to enhance its digital presence and expand its global footprint. The investment is a testament to OYO’s commitment to growing its business and creating new opportunities for its customers and partners.
