Motel 6, known for its bare-bones motel rooms, low prices and blue sign emblazoned with a red "6," has been sold for $525 million to an India-based hotel operator Oyo, Blackstone Real Estate has announced.

Oyo Rooms might've seen its valuation slashed in recent times, but that doesn't seem to have dampened its international aspirations. Oyo Rooms has agreed to acquire G6 Hospitality, the parent company

Motel 6, one of America’s most recognizable lodging brands, has a new owner after an India-based hotel giant has agreed to buy it for $525 million. Oyo, the new owner, said on Friday it is making the acquisition as part of its plans for ramping up its U.