- Reports 45% growth in Mexico hotel portfolio in 2024
- It has also acquired the iconic Motel 6 brand in the US as it doubles down on North America growth
- Company currently operates 130 hotels across 60 Mexican cities with strong presence in Mexico City, Oaxaca, Puebla, Cancún-Playa Del Carmen and Los Cabos
MEXICO (November 04 de 2024). Global hospitality technology company OYO has reported a 45% increase in its hotel portfolio in Mexico this year, signaling strong momentum in the region as the company strengthens its North American presence following the acquisition of G6 Hospitality, which owns the iconic Motel 6 and Studio 6 brands in the US.
OYO has announced its plans to acquire G6 Hospitality from Blackstone Real Estate for $525 million in an all-cash transaction. G6 Hospitality’s franchise network, which generates gross room revenues of $1.7 billion, brings strong fee-based revenue and cash flow to OYO’s portfolio. The acquisition marks a significant milestone in OYO’s North American journey, where it currently operates over 320 hotels across 35 states since its entry in 2019.
The India-headquartered company, which currently operates 130 hotels in 60 cities across Mexico, including major hubs like Mexico City, Oaxaca, Puebla, Cancún-Playa Del Carmen and Los Cabos, has shown particularly strong growth in the capital city with a steady addition of storefronts.
Nishant Boorla, VP & Country Head – LATAM, OYO, said: “Since launching in Mexico in 2019, the country has represented a strategic growth market for OYO, and our recent expansion here demonstrates our commitment to the region. With the addition of Motel 6’s strong brand presence in the US, we are well positioned to accelerate our growth across North America. We plan to leverage our technology suite, global distribution network, and marketing expertise to further strengthen both the Motel 6 and Studio 6 brands.”
OYO is focused on sustainable growth in the Mexican market, emphasizing continuous improvement and service enhancement.
“Our approach in Mexico is centered on creating long-term value. We’re not just looking at 2024 – our vision extends much further. Within five years, we aim to establish ourselves as one of the leading hotel chains in Mexico, helping our partner properties achieve industry-leading revenue for their asset class,” added Boorla.
OYO leverages a sophisticated digital product suite for hotel owners, including dynamic pricing, listings across over 50 online and offline travel agents, and self-check-in systems. This tech-first approach has been instrumental in driving growth and boosting revenue for its partner properties across Mexico.
The company’s expansion strategy in Mexico is focused on providing value-for-money accommodations in strategic locations, supported by its proven technology platform and operational expertise, an approach that aligns with its global strategy of combining local market knowledge with international hospitality standards.
About OYO
OYO is a global platform that empowers entrepreneurs and small businesses with hotels and homes by providing full-stack technology products and services that aim to increase revenue and ease operations; bringing easy-to-book, affordable, and trusted accommodation to customers around the world. OYO offers 40+ integrated products and solutions to patrons who operate over 175K hotel and home storefronts in more than 35 countries including India, Europe and Southeast Asia. For more information, visit here.
