PRISM Studio 6 Launches 38 Extended Stay Hotels

NEW DELHI / DALLAS, May 25, 2026: PRISM, the corporate parent of OYO and operator of G6 Hospitality in the United States, has opened 38 Studio 6 extended stay hotels across the country, completing a conversion of former Extended Stay America Select Suites properties backed by $375 million in total capitalisation. The portfolio spans gateway cities including New York, Dallas, Houston, and Phoenix; business hubs such as Charlotte, St. Louis, Richmond, and Indianapolis; the leisure market of Las Vegas; and suburban locations including Oakland, Greenville, and Pasadena.

The scale of the rollout, 38 properties and more than 4,000 rooms added in a single portfolio move, makes it one of the larger single-phase expansions the US extended stay segment has seen from any single operator this year. For PRISM, it is also a statement about where the company now sits: not a budget travel-tech startup from Gurugram running budget rooms in India, but a globally scaled hospitality operator with a significant and growing footprint in the North American lodging market.

How the 38-hotel portfolio came together

The deal was structured through Sunday PropTech, a PRISM-affiliated entity, which secured $286 million in financing to acquire and convert the properties. Citigroup provided $242 million in acquisition debt, which included eight hotels purchased for $31 million in November 2025 from Blackstone and Starwood. Access Point Financial contributed $44 million in mezzanine debt. Sunday PropTech then closed on 30 additional Extended Stay America Select Suites this year to complete the 38-hotel portfolio, with total capitalisation reaching $375 million.

The conversion model, taking properties operating under one brand and relaunching them under Studio 6, is faster and cheaper than ground-up construction. It also fills a gap in the Studio 6 footprint in markets where the brand was previously absent or underrepresented, from Rochester and Buffalo in New York State to Sacramento and Fresno in California.

What Prism Studio 6 extended stay hotels offer

Studio 6 properties are built around the needs of guests staying not for a night but for days, weeks, or months. Fully equipped kitchenettes, in-room workspaces, self-service laundry, high-speed internet, and flexible housekeeping services are standard across the portfolio. Most of the 38 newly converted properties average approximately 100 to 120 rooms, a size that supports operational efficiency without the overhead burden of larger full-service properties.

The target guest profile is specific and well-defined. Corporate professionals on project assignments, construction crews on multi-week sites, medical staff on contract placements, families between homes during renovation or relocation, these are travellers whose accommodation needs do not fit neatly into the nightly hotel model. They need a kitchen, a desk, a laundry machine, and reliable internet. They do not need a concierge or a poolside bar. Studio 6 is built for that demand, and PRISM's leadership believes that demand is growing.

Ritesh Agarwal on the extended stay opportunity

Ritesh Agarwal, Founder and Group CEO, PRISM, placed the expansion in the context of a structural shift he sees playing out in US lodging patterns.

"In 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."

— Ritesh Agarwal, Founder and Group CEO, PRISM

The demand profile he describes is not speculative. Extended stay hotels have been among the most resilient performers in US lodging for several consecutive years, outperforming traditional transient hotels on occupancy during periods when business travel softens, because their guest base, workforce travellers, contractors, medical professionals, tends to be less discretionary and less affected by economic cycles than leisure or corporate conference travellers.

The economics that make extended stay attractive

PRISM's interest in extended stay is not purely about revenue. The format offers a cost structure that conventional hotel operations cannot match. Lower room turnover frequency means housekeeping costs are significantly reduced. Guest acquisition costs are lower because long-stay guests book directly or through corporate accounts rather than through expensive online travel agencies on a per-night basis. Occupancy patterns are more stable and predictable, which makes revenue forecasting and staffing more manageable.

Those operational advantages are compounded by the technology layer PRISM is layering across G6 Hospitality properties. The group's tools, including G6 Marketplace for distribution, Protect24.ai for security and safety monitoring, and bookable Early Check-In services, are being integrated across the Studio 6 portfolio to reduce friction, improve oversight, and create a more consistent guest experience at scale. India-built revenue management systems and AI-driven operational capabilities are part of the same deployment.

PRISM's journey from OYO to global operator

The company that is now called PRISM began as Oravel Stays Limited, the corporate entity behind OYO Hotels, founded in 2012 by Ritesh Agarwal in India as a budget hotel aggregator. The company rebranded to PRISM in September 2025 following the completion of its $525 million acquisition of G6 Hospitality from Blackstone, which brought the Motel 6 and Studio 6 brands into the group's portfolio.

Today, PRISM operates more than 22,000 hotel storefronts and 123,000 home storefronts across more than 35 countries, according to its own figures as of June 30, 2025. The portfolio spans budget hotels under OYO, Motel 6, Townhouse, Sunday and Palette; vacation rental brands including Belvilla, DanCenter, CheckMyGuest and Studio Prestige; and workspace and events brands Innov8 and Weddingz.in. Studio 6 is now the company's dedicated vehicle for the extended stay segment in North America.

What comes next for Studio 6 and the US extended stay market

The 38-hotel conversion is not the end of Studio 6's expansion. G6 Hospitality opened more than 35 Studio 6 locations in the first quarter of 2026 alone, across markets including Birmingham, Sacramento, Fresno, Fort Myers, Jacksonville, Memphis, Chicago, Washington DC, Minneapolis, Cincinnati, Seattle, and others. PRISM has also launched Studio 6 Plus, a premium economy extended stay tier targeting travelling professionals with upgraded amenities, developed with Atlanta-based Natson Hotel Group, which has committed to building the first 15 Studio 6 Plus properties at a cost of roughly $200 million.

The extended stay segment in the United States continues to draw sustained investor interest, and PRISM's move to establish Studio 6 as a national brand at scale, backed by Indian-built technology infrastructure and a conversion model that moves faster than new construction, positions it as one of the more active players in a segment that the broader lodging industry has been watching closely for several years.