G6 Acquisition Turns OYO Franchisor

The key change is that OYO is starting to look less like an India led booking marketplace and more like a global hotel franchisor with a large North American royalty stream. Closing the G6 deal in December 2024 added Motel 6 and Studio 6, about 1,400 to 1,500 franchised properties in the US and Canada, so the October to December 2025 quarter captured a fuller period of franchise fees, booking revenue, and related services from that much larger base.1 2 3 4

• G6 changed OYO’s scale mix overnight. The acquisition closed on December 17, 2024 for $525 million, bringing in one of North America’s biggest economy lodging networks. That made US revenue materially larger and gave OYO a business built around franchise and royalty income, not just commissions on room nights.1 2 3
• The faster growth in late 2025 lines up with reported operating momentum. OYO disclosed revenue of Rs 6,941 crore for the nine months ended December 31, 2025, already above its full FY25 revenue of Rs 6,259 crore. Separate reporting on the December quarter said revenue reached about Rs 2,019 crore, up 47% year over year.4 5
• The mix shift matters as much as the headline growth. By the December 2025 period, outside India accounted for 83.8% of revenue, while the US alone contributed 24% in FY25 after G6. That means OYO’s reported growth is increasingly tied to how well it can keep Motel 6 franchisees, fill rooms through direct and third party channels, and layer its software onto a legacy chain.3 6 7

From here, the main story is OYO turning acquired motel scale into a steadier, more franchise heavy earnings base. If it keeps adding Motel 6 locations and pushes more bookings, pricing, and property systems through one platform, revenue should keep shifting toward larger, more durable international streams and away from the smaller India share.2 3 7