Budget hotel brand Motel One has reported a 22% increase in revenue during 2018.
Sales increased to €487m (£417m), compared with €401m (£343m) in 2017, and EBITDA increased by 23% to €150m (£128m), compared with €122m (£104m). Including capital gains under a sale and leaseback transaction, earnings after tax increased to €104m (£89m).
The brand also increased its footing in the European hospitality market with nine new hotel openings in 2018, totalling 2,773 rooms, resulting in an occupancy increase of 0.8% to 76.5%. It now has 71 hotels and 20,160 rooms in operation.
A statement by the brand read: “The group continues to report an expanding portfolio. The development pipeline consists of 27 hotels with 8,107 rooms, including a second hotel in Prague. With the inclusion of this pipeline, the hotel will reach 98 hotels with 28,300 rooms (previous year: 92 hotels with 26,900 rooms).”