IPO-bound Prism's US arm scales operations with 30 new hotels

IPO-bound Prism, the parent entity of OYO, on Monday announced the opening of 30 hotels across the US under Studio 6, the company's extended-stay brand, as the Indian unicorn eyes scaling its operations in the country.

The current expansion comes following the launch of eight hotels in the first phase earlier this year.

In this phase, the new hotels have become operational across gateway cities with business demand and potential for leisure travel,, including New York, Dallas, Houston, and Phoenix, as well as business hubs like Charlotte, St. Louis, Richmond, and Indianapolis. A few of these properties are located in leisure-driven destinations like Las Vegas and suburban markets such as Oakland, Greenville, and Pasadena.

In December 2024, Prism acquired the iconic American budget hotel chain Motel 6 and Studio 6 from Blackstone Real Estate for USD 525 million in an all-cash transaction. Prism acquired G6 Hospitality, the economy lodging franchisor and parent company of Motel 6 and the chain's offshoot hotel brand, Studio 6.

Ritesh Agarwal, Founder and Chairman, Prism, said, ''In the USA, we are seeing a shift towards longer-duration stays driven by project-based travel, medical staff, construction crew, temporary stays due to home renovation and a growing need for dependable, high-quality yet affordable accommodation. This expansion aims to bring a tech-enabled, operations-first approach to hospitality, while making efforts to ensure consistency, efficiency, and an elevated guest experience at scale''.

Extended-stay hotels are designed for guests seeking accommodation for several days to weeks, offering amenities such as fully equipped kitchenettes, in-room workspaces, self-service laundry, high-speed internet and flexible housekeeping services.

Most of these hotels have approximately 100-120 rooms on average, through which Prism aims to achieve operational efficiency while catering to a wide spectrum of long-stay demand, the company stated.

In December 2025, Prism filed a draft red herring prospectus with the capital markets regulator, the Securities and Exchange Board of India (Sebi), for a Rs 6,650 crore initial public offering (IPO) through the confidential route, people familiar with the development said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)