Dive Brief:
- OYO parent company Oravel Stays has rebranded to Prism to “reflect the company’s expanded global portfolio and long-term vision,” the company announced in a Monday news release.
- The name Prism represents “clarity, diversity, and the full spectrum of brands within the company’s ecosystem,” including hotel brands OYO, Townhouse, Sunday and Palette, according to the company. Beyond its hotel brands, Prism operates event venues and hospitality technology solutions, including AI-driven partner tools and data science platforms.
- The rebrand comes after OYO acquired G6 Hospitality last year from Blackstone Real Estate for $525 million, assuming the Motel 6 and Studio 6 brands, with plans to accelerate growth across the U.S.
Dive Insight:
Under its new identity, Prism will unite its “diversified ecosystem that spans technology solutions, premium hospitality, extended-stay residences, celebration venues, luxury getaways and experiential living concepts,” the company detailed in the release.
“The transition to PRISM marks the establishment of a future-ready corporate architecture designed to align our expanding portfolio with our long-term vision,” Ritesh Agarwal, Prism founder and group CEO, said in a statement.
Part of that vision is entering new categories and geographies, according to the release.
On the hotel front, OYO is expanding in the U.S. following its acquisition of G6 Hospitality, which closed at the end of last year. At that time, the company said OYO would add more than 150 hotels under the Motel 6 and Studio 6 brands in 2025.
In June at the NYU International Hospitality Investment Forum in New York City, Agarwal said the company plans to keep OYO, Motel 6 and Studio 6 operating under separate brands, offering different propositions.
The extended stay Studio 6 brand, in particular, “is going to be a big focus of growth,” he said.
Since its founding in 2012, India-based OYO has expanded to more than 35 countries worldwide.
