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Greenville Business Magazine

The Business Narrative: We'll Leave the Light On

Sep 24, 2024 09:12AM ● By Donna Walker

(Motel 6 Image)

Global Travel Technology Company OYO to Acquire G6 Hospitality from Blackstone Real Estate

Oravel Stays, the parent company of the global travel technology company OYO, said it has agreed to acquire G6 Hospitality, parent company of the iconic Motel 6 and Studio 6 brands, from Blackstone Real Estate for $525 million in an all-cash transaction.

 

OYO has steadily expanded its footprint in the United States since its launch in the region in 2019 and currently operates over 320 hotels across 35 states.

 

In 2023, OYO added nearly 100 hotels to its U.S. portfolio.

 

Officials said Motel 6’s franchise network produces gross room revenues of $1.7 billion, which generates a strong fee base and cash flow for G6.

 

OYO will leverage its comprehensive technology suite as well as its global distribution network and marketing expertise to further strengthen the Motel 6 and Studio 6 brands and drive continued financial growth, the officials said.

 

“This acquisition is a significant milestone for a startup company like us to strengthen our international presence. Motel 6’s strong brand recognition, financial profile and network in the US, combined with OYO’s entrepreneurial spirit will be instrumental in charting a sustainable path forward for the company which will continue to operate as a separate entity,” said Gautam Swaroop, CEO OYO International.

 

Under its ownership, Blackstone invested significant capital to create value and enhance the Motel 6 brand, including executing a strategy to transform the business into a leading asset light lodging company across the United States and Canada.

 

The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions.

 

Goldman Sachs & Co. LLC acted as Blackstone’s lead advisor and Jones Lang LaSalle Securities, LLC and PJT Partners acted as financial advisors. Simpson Thacher & Bartlett LLP served as Blackstone’s legal advisor.

 

The Motel 6 website lists 13 South Carolina hotels in Columbia, Greenville, Simpsonville, West Columbia, Florence, Myrtle Beach, Spartanburg, Fort Mill, Richburg, Summerville, Georgetown, Rock Hill and Walterboro.

 

Motel 6 was founded in 1962 in Santa Barbara, California. The original price of a night's stay at Motel 6 was just $6.00.

Gnosis Freight Announces Strategic Growth Investment from Vista Equity Partners

Charleston, South Carolina-based Gnosis Freight, a leading provider of supply chain visibility and execution software designed to manage the full lifecycle of the shipping container, announced on Sept. 23, 2024, a strategic growth investment from Vista Equity Partners, a global investment firm focused exclusively on enterprise software, data and technology-enabled businesses.

 

Officials said the investment supports Gnosis’ mission to help logistics companies work together better across the entire ecosystem.

 

Founded in 2017, Gnosis said it provides a smarter way to track and manage containers and collaborate with logistics partners in a single location.

 

In 2020, Gnosis launched its Container Lifecycle Management (CLM) platform, and coined the term CLM.

 

Embedded in the platform, Gnosis’ proprietary container tracking engine, Marlo, delivers complete, accurate and timely insight that eliminates the global supply chain’s persistent blind spots and drives connectivity across the ecosystem, officials said.

 

They said that with Gnosis, customers realize immediate return on investment and embark on a turnkey step into digitizing their shipping container operations end-to-end.

 

Vista’s investment in Gnosis was made by the firm’s Endeavor Fund, which provides growth capital and strategic support to market-leading, high-growth enterprise software, data and technology-enabled companies that have achieved at least $10 million in recurring revenue.

Columbia East Traffic Improvement Plan Public Workshop #2

The Central Midlands Council of Governments is conducting a Traffic Improvement Area Plan in southeast Columbia and adjacent portions of Richland County, South Carolina.

 

The Columbia East Study focuses on transportation and land use in the area surrounding the growing Garners Ferry Road corridor from Fort Jackson Boulevard to Trotter Road. Officials said the study will guide CMCOG and local efforts to address present and future development along the corridor.

 

High priority projects will be recommended to address driver, cyclist, and pedestrian safety as well as traffic congestion.

 

A public information meeting has been scheduled for Oct. 3, 2024, from 5-7 p.m. at Richland Library Southeast, 7421 Garners Ferry Road, Columbia, SC 29209.

 

Officials said the purpose of this meeting is to provide an opportunity to discuss findings and recommendations from the study, as well as to gather feedback from the public on potential project recommendations.

 

The meeting will be a drop-in format and will include displays and handouts for viewing as well as the opportunity to discuss specifics of the Traffic Improvement Area Plan with the project team.

 

Citizens may provide written comments in the following ways:

 

• Attend the Oct. 3rd, 2024, in-person meeting and place a written comment in the comment box provided.

 

• Mail written comments to CMCOG (Central Midlands Council of Governments) at 236 Stoneridge Drive, Columbia, SC 29210.

 

Comments will be accepted through Nov. 7, 2024.

 

For more information, contact Joe Robertson, Kimley-Horn, at [email protected].

Hang Up On Unwanted Calls About Loans

People are reporting getting calls (and calls) (and more calls) about their supposed “loan application.” Only they hadn’t applied for a loan. So what’s going on?

 

When people don’t pick up, the callers leave messages saying the imaginary “loan application” is on hold because the business needs more information, so please call back. The calls seem urgent — and they’re persistent.

 

People report getting calls in bursts of anywhere from five to even 20 a day, all from different numbers, all with the same story. But there never was a loan application. It’s a tactic that some dishonest companies are using to offer loans.

 

If you get a call like this, according to the Federal Trade Commission:

Don’t press a number to “unsubscribe.” That only lets the dishonest company know your number is good. Instead, just hang up.

 

Use call blocking to stop calls before they reach you. Learn how at How to Block Unwanted Calls. For your mobile phone, find a list of call-blocking apps at ctia.org, a website for the U.S. wireless communications industry.

 

Don’t give information to businesses you don’t know, even if they seem to know youThat could be a set up to get your personal information.

 

Register your cell and home phone for free at the National Do Not Call Registry. Registration never expires and is designed to stop unwanted sales calls from companies that follow the law.

 

But it doesn’t block calls and won’t stop calls from scammers — though the scam calls are a lot easier to spot if scammers are the main ones left calling to sell you something.

 

If you’ve gotten calls like these, report unwanted calls at DoNotCall.gov.

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