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The sale, which was negotiated by CBRE Hotels’ Wayne Bunz and Hayley Manvell, drew the interest of owner operators, hotel investment funds and high net worth individuals, according to CBRE. Perth-based hotel owner operator Pacific Hotels is also selling the Pacific Hotel Brisbane.
NEW DELHI and DALLAS—Oravel Stays, the parent company of the global travel technology company OYO, announced that it has agreed to acquire G6 Hospitality, the parent company of the Motel 6 and Studio 6 brands, from Blackstone Real Estate for $525 million, in an all-cash transaction.
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