Motel one profits hit €156m amid record revenues

The Motel One Group has revealed its profit after tax for FY23 hit €156m (£133m) after reporting record revenues.

Motel One also revealed turnover increased 33% to €852m (£727m), up from €639m (£545m), the previous year.

It comes as the group increased its network of locations by six more hotels in 2023 to 94 hotels with 26,470 rooms in operation. The fourth quarter saw the opening of the first The Cloud One Hotel in Germany in the heart of Hamburg’s Old Town. At the end of the year, the contractually secured portfolio comprised 117 hotels with 32,177 rooms.

Of these, 23 hotels with 5,707 rooms are currently in development. In the fourth quarter of 2023, the Motel One Group secured a total of four locations in attractive markets: two projects in Brussels and one each in Nice and Berlin.

The group also revealed One Hotels and Resorts GmbH, as majority shareholder of the Motel One Group led by founder Dieter Müller, has acquired the 35% stake from the financial investor Proprium Capital partners.

The deal was closed on 2nd April 2024. The purchase price of €1.25bn (£1bn) represents an implicit company value of €4.1bn (£3.5bn). Proprium had held a minority share in Motel One GmbH since 2007, which it acquired in a capital increase.

Parallel to the buyback, the property division was separated from the operational business with effect from 1st January 2024, for which an IPO is planned in the medium term.

Philipp Westermann, head of Europe and partner of Proprium Capital Partners, said: “We are proud to have accompanied a German family business on its journey for more than 15 years. Today, the company operates globally with enormous growth potential.”

Dieter Müller, founder and chairman of the Motel One Group, added: “We can look back on a successful and long-standing collaboration and thank the Proprium team led by Philipp Westermann for their trust.”