The Motel One Group continues its success story and closes the 2023 financial year with a record turnover of EUR 852 million (previous year: EUR 639 million) – an increase of around 33% on the previous year. EBITDA increased by 64% to EUR 281 million (previous year: EUR 171 million). Earnings before taxes (EBT) almost doubled in 2023 to EUR 226 million (previous year: EUR 116 million). This marks the conclusion of the Motel One Group’s most successful financial year in the company’s history.
Overview of figures: 2023 financial year
| Motel One Group | 2023 | 2022 |
| Number of hotels | 94 | 88 |
| Number of rooms | 26,470 | 24,752 |
| Average occupancy rate (%) | 72 | 64 |
| Revenue per available room (TRevPAR) in EUR | 92 | 73 |
| Revenue in TEUR | 851,533 | 638,740 |
| EBITDA in TEUR | 280,670 | 170,978 |
| EBT in TEUR | 226,229 | 116,482 |
| Profit after tax in TEUR | 156,313 | 78,383 |
SIX hotels opened, growth to 117 hotels secured
The network of locations grew 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 (previous year: 28) with 5,707 rooms (previous year: 7,040) 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.
Acquisition of Propriums Capital Partners 35% stake
One Hotels & 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 EUR 1.25 billion represents an implicit company value of EUR 4,1 billion. 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.
‘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,’ says Philipp Westermann, Head of Europe and Partner of Proprium Capital Partners.
‘We can look back on a successful and long-standing collaboration and thank the Proprium team led by Philipp Westermann for their trust,’ says Dieter Müller, Founder and Chairman of the Motel One Group.
Preview
For 2024, the Motel One Group expects a positive trend and further increase in income. The year should see the opening of seven new hotels with almost 1,800 rooms in Germany and Europe, including two ‘The Cloud One’ openings in Prague and Düsseldorf. The strong performance of the newly opened hotels in particular and the robust key financial figures will allow for further good growth opportunities.