Latest news with #G6Hospitality
Associated Press
5 days ago
- Business
- Associated Press
OYO Becomes the Most Profitable Indian Startup with $72 Million Profit
06/26/2025, New Delhi // PRODIGY: Feature Story // OYO Founder Ritesh Agarwal shared in an employee town hall that the company has now become the most profitable Indian startup. The company reported profit after tax (PAT) of ~$72 million in its financial results for the fiscal year ended March 31, 2025, a 172% increase from ~$27 million in FY24. According to documents accessed by PTI, as per its unaudited financials, the company achieved an adjusted EBITDA of ~$132 million in FY25, compared to ~$104 million in the previous fiscal year, marking a robust 27% year-over-year growth and its 10th consecutive quarter of EBITDA profitability. Consequently, OYO's earnings per share (EPS) reached $0.93 for FY25, up from $0.36 in FY24, reflecting a 158% increase as the company continues to enhance shareholder value. The platform reported a 54% increase in Gross Booking Value (GBV) to $1.92 billion and its revenue grew to ~$754 million, a 20% increase year-over-year, fueled by the company's premium offerings through its Company-Serviced Portfolio (including the mid-segment Townhouse Hotels and Softbank- and Oravel-promoted Sunday Hotels) across India, UK, and the SEAME region, as well as the successful integration of G6 Hospitality. The company has strategically expanded its premium offerings with the launch of over 30 Sunday Hotels in the last 12 months across various regions, including India, Saudi Arabia, UAE, and Southeast Asia. In the SEAME region alone, company-serviced property additions grew from 7 in Q4 FY24 to 256 in Q4 FY25. The fourth quarter of FY25 proved to be OYO's strongest, with GBV reaching ~$744 million, a 126% growth compared to the same period last year, driven by its growing hotels business across India, USA, and SEAME and the acquisition of G6 Hospitality in Q3 FY25. Revenue for Q4 stood at ~$218 million, up 41% year-over-year, while adjusted EBITDA increased by 61% to ~$51 million compared to Q4 FY24. The quarter saw significant expansion with the company's hotel storefronts increasing by 25%, buoyed by the addition of G6 hotels in its portfolio, and the homes segment growing by 42% year-over-year. Hotel GBV per storefront per month surged by 161% to ~$8,940, reflecting the success of OYO's premiumization efforts and strategic acquisitions. OYO's global presence now includes approximately 22,700 hotels and 119,900 homes, along with 91,300 listings across its platform. The company significantly strengthened its position in developed markets, particularly in the US, where it experienced 55% growth in storefronts and 45% growth in GBV during FY25. International rating agencies have recognized OYO's improved profitability and strengthened credit metrics, with Moody's upgrading the company's rating, citing OYO's improved profitability over recent quarters. For the current financial year, FY26, Ritesh Agarwal has earlier shared a target of reaching over ~$233 million in EBITDA and $1.31 EPS, by growing its current annualized EBITDA run-rate of ~$198 million. The company expects its US operations to be a significant driver, with projected consolidated GBV growth of 3.4x in FY26 compared to FY25. In FY 2025, OYO demonstrated the highest PAT growth compared to leading hospitality players such as IHCL, Lemon Tree, Ixigo, and Royal Orchid. OYO's revenue outperformed Lemon Tree, Ixigo, and Royal Orchid, though it trailed IHCL. Note: Financial figures in USD are converted using the exchange rate of 1 USD = ~85.7 INR as of June 9, 2025. Contact Details Tech Observer Md Ujaley +1 931-358-3248 [email protected] Company Website Original Source of the original story >> OYO Becomes the Most Profitable Indian Startup with $72 Million Profit
Associated Press
24-06-2025
- Business
- Associated Press
G6 Hospitality's Revenue Management Program Delivers Double-Digit Growth and Outperforms Market
06/24/2025, Dallas, Texas // PRODIGY: Feature Story // G6 Hospitality, parent company of Motel 6 and Studio 6, today announced the results of its Revenue Management Services (RMS) program, which continues to deliver superior performance for participating properties compared to the broader portfolio and the market at large. The RMS program leverages proprietary automation tools, daily competitive set monitoring, and bi-weekly strategy calls with dedicated revenue managers. These initiatives allow general managers to focus on guest experience while G6's experts optimize pricing, channel mix, and promotional strategies. Properties enrolled in the G6 Revenue Management Services program saw an impressive 11% year-over-year revenue growth in the first quarter of 2025, more than double the growth rate of the rest of the portfolio and significantly ahead of industry benchmarks. These properties also achieved a 10% higher Average Daily Rate (ADR) compared to non-RMS properties, reflecting the program's effectiveness in optimizing pricing and maximizing revenue opportunities. The RMS program's impact is especially pronounced on G6's app & website. In Q1 2025, properties under revenue management saw web and app channel growth of 11.5%, while the rest of the portfolio experienced a 4.4% decline. This digital uplift is driven by advanced dynamic pricing, OTA optimization, and a dedicated central performance marketing team that ensures each property is positioned to capture demand across all segments. The program continued to demonstrate momentum in April 2025. Revenue-managed properties posted a 9% revenue growth for the month, compared to just 0.7% for non-revenue managed hotels. Web channel growth for RMS properties stood at 11%, dramatically outpacing the 0.6% growth for non-RMS properties. Average Daily Rate (ADR) for RMS properties reached $78.24, a significant premium over the $66.68 ADR for non-managed properties. 'Our Revenue Management Services program is designed to empower our franchisees with cutting-edge tools, strategic expertise, and real-time data to drive results,' said Sonal Sinha, CEO of G6 Hospitality. 'The success we're seeing—higher ADR, more direct bookings, and significant revenue growth—demonstrates the value of our hands-on, data-driven approach. We're proud to help our partners outperform the market and deliver exceptional value to their guests.' This announcement follows G6 Hospitality's recent launch of the AI-powered My6 app, which delivers a faster, more personalized booking experience and has already driven a 14% year-over-year increase in direct bookings. Together, these initiatives underscore G6 Hospitality's commitment to leveraging technology and data to drive growth, enhance guest satisfaction, and support franchisee success. About G6 Hospitality LLC G6 Hospitality LLC is the leading economy lodging franchisor, with nearly 1,500 economy lodging locations under the iconic Motel 6 and Studio 6 brands in the United States and Canada. G6 Hospitality is committed to making hospitality accessible to all through responsible business practices and unparalleled opportunity for franchisees to build a legacy through ownership. Both Motel 6 and Studio 6 were recognized in the 2024 Entrepreneur Franchise 500® report, with Motel 6 ranking in the top 50 of all franchises. The Carrollton, Texas-based company was named a 2024 Leader in Diversity by Dallas Business Journal. For more information, please visit Contact Details G6 Hospitality LLC Anupriya +91 97911 63065 [email protected] Company Website Source published by Submit Press Release >> G6 Hospitality's Revenue Management Program Delivers Double-Digit Growth and Outperforms Market
Associated Press
21-06-2025
- Business
- Associated Press
G6 Hospitality Unveils AI-Powered Upgraded My6 App
Dallas, Texas, June 21, 2025 -- G6 Hospitality, the parent company of Motel 6 and Studio 6, today announced the launch of the new My6, a completely revamped consumer app featuring advanced AI personalization feature for customers. The revamped guest-facing app delivers 2X faster performance with a 50% reduction in latency, offering improved booking experiences that directly benefit property visibility and occupancy rates. The cornerstone of the new My6 app is its proprietary AI-powered recommendation engine that intelligently connects guests with the most suitable properties based on their preferences. This technology is particularly valuable for capturing the one-third of all searches for 'Motel 6 near me,' ensuring properties receive maximum exposure to their most relevant potential guests. The app introduces dynamic homepage experiences and personalized deal offers tailored to each guest's preferences, driving higher conversion rates and increased bookings for properties. 'Our customers deserve a seamless, personalized booking experience, and My6 2.0 delivers exactly that while simultaneously driving more bookings to our properties. The AI-powered features mean guests find exactly what they're looking for faster, resulting in higher conversion rates and increased occupancy for our locations,' said Sonal Sinha, CEO - G6 Hospitality. Key features of the enhanced customer app include: The app also introduces customer-focused innovations including interactive neighbourhood exploration maps, a save-and-compare function for multiple properties, and an intuitive booking process designed to reduce abandonment rates on the app. Early data suggests the new My6 app saw 14% YoY increase in direct bookings while reducing drop-offs in the reservation process. The development roadmap includes further AI-driven ranking improvements, enhanced filters, Google Pay & Apple Pay payment options, Tripadvisor review integration, and post-checkout rating capabilities—all designed to enhance the guest experience and drive additional revenue. My6 2.0 is available now for download on iOS and Android platform. About G6 Hospitality LLC G6 Hospitality LLC is the leading economy lodging franchisor, with nearly 1,500 economy lodging locations under the iconic Motel 6 brand and the Studio 6 Extended Stay brand in the United States and Canada. G6 Hospitality is committed to making hospitality accessible to all through responsible business practices and unparalleled opportunity for franchisees to build a legacy through ownership. Both Motel 6 and Studio 6 were recognized in the 2024 Entrepreneur Franchise 500® report, with Motel 6 ranking in the top 50 of all franchises. The Carrollton, Texas, based company was named a 2024 Leader in Diversity by Dallas Business Journal. For more information, please visit Contact Details G6 Hospitality LLC Anupriya Malik Release ID: 89162884 If there are any deficiencies, discrepancies, or concerns regarding the information presented in this press release, we kindly request that you promptly inform us by contacting [email protected] (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our dedicated team is committed to addressing any identified issues within 8 hours to guarantee the delivery of accurate and reliable content to our esteemed readers.
Yahoo
14-06-2025
- Business
- Yahoo
Longtime spokesperson Tom Bodett sues Motel 6
The Brief Tom Bodett filed a federal lawsuit against Motel 6, claiming the chain used his voice and name without authorization after their contract ended. The dispute stems from a missed $1.2 million payment and the breakdown of a nearly 40-year partnership between Bodett and the motel brand. Motel 6's parent company, G6 Hospitality, said it was surprised by the lawsuit but expressed appreciation for Bodett's contributions. Tom Bodett, whose warm baritone and iconic line "we'll leave the light on for you" made him the voice of Motel 6 for nearly four decades, is suing the motel chain and its parent company for alleged unauthorized use of his name and voice. According to a lawsuit filed Monday in Manhattan federal court, Bodett said he ended his relationship with Motel 6 after its new owner, India-based travel firm OYO, failed to make a $1.2 million annual payment due on Jan. 7. Their contract was set to expire in November. The backstory Despite the contract lapse, Bodett claims Motel 6 continued using his voice and name on its national reservation phone line. The lawsuit alleges violations of both his contract rights and federal trademark law. Bodett said he attempted to reach a confidential settlement that would honor his legacy and protect Motel 6's reputation and franchisees, but accused the company of responding with "misrepresentations, obfuscations, and delay tactics." The lawsuit seeks $1.2 million in owed compensation, along with additional damages and a share of profits. What they're saying A spokesperson for G6 Hospitality, the parent company of Motel 6, said the company was "surprised" by Bodett's lawsuit but indicated it hoped for an amicable resolution. "We appreciate Mr. Bodett's contributions over the past years," the spokesperson said. "Of course, we will continue to advertise keeping the lights on for you." Bodett, when contacted by email, told Reuters: "The complaint says all there is to say." Tom Bodett became Motel 6's lead spokesman in 1986 and said he coined the phrase "we'll leave the light on for you" during an unscripted ad-lib. His voice became synonymous with the brand's down-to-earth identity and was featured in both radio and TV campaigns for decades. In addition to his advertising work, Bodett is known for his appearances on National Public Radio and for narrating several Ken Burns documentaries. What's next The lawsuit, Bodett et al v G6 Hospitality LLC et al, was filed in the U.S. District Court for the Southern District of New York. It could set a notable precedent for voice usage and contract rights in long-term brand relationships, especially as companies change ownership. The Source This report is based on original reporting from Reuters, which first detailed the lawsuit filed by Tom Bodett against Motel 6 and its parent company G6 Hospitality. The article includes direct quotes from legal filings and statements provided to Reuters by both Bodett and Motel 6.
Economic Times
25-04-2025
- Business
- Economic Times
US drives a quarter of Oyo's FY25 revenue: Founder Ritesh Agarwal to leaders
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Oyo has seen a 'significant' shift in its revenue landscape in financial year 2025, with its US businesses contributing approximately 24% of the company's total revenue driven by its acquisition of G6 Hospitality, as per documents shared by Oyo founder Ritesh Agarwal with the company's senior leaders. The documents were seen by ET. G6 Hospitality is the American motel company that Oyo acquired from Blackstone Real acquisition, which was completed in December last year, added 1,500 franchised hotels across the US and Canada to Oyo's portfolio. G6 Hospitality operates the Motel 6 brand and the Studio 6 brand. In the financial year 2024, the combined revenue share of Oyo's US operations stood at 15%, as per documents seen by also shared that the number of hotels in India grew by 22% in financial year 2025 versus financial year 2024 , which led to growth in the company serviced hotels under the brands Townhouse, Palette and Capital per the documents, since the G6 acquisition, the company has added over 150 corporate clients in the US, primarily from Texas, California, and Florida, and the corporate segment revenue increased by approximately 26% in quarter one of 2025 compared to the same period last year, with the company adding about 50 new corporate accounts monthly since January this year G6 announced a $10 million investment in the US to grow direct demand through its website and the My6 month, Agarwal told the company's senior leadership that the company was on track to post more than Rs 2,100 crore in revenue in the fourth quarter ended March 31, a more than 60% increase from a year earlier."A key contributor to this performance has been the integration of G6 Hospitality, adding Rs 275 crore to our revenue," Agarwal wrote to his top executives in an email which ET had seen. "Even without G6, our revenue stands strong at Rs 1,886 crore, demonstrating robust organic growth of 42%," he had had said the company expects a profit after tax of Rs 1,100 crore in financial year 2026, and Rs 2,000 crore in earnings before interest, tax, depreciation and cited the company's performance in its 'core markets' such as India and the US, along with 'significant' contributions from emerging markets in Southeast Asia and the Middle East for the projections. In quarter three of financial year 2025, the company recorded a net profit of Rs 166 crore on revenue of Rs 1,636 crore, he had said.
