Foncière des Régions, via its subsidiary Foncière des Murs, announces the acquisition of two Motel One hotels located in Berlin-Mitte and at the Frankfurt airport, Germany.
With this sale & lease back transaction, Foncière des Régions is entering into a new hotel partnership with a well-known brand, Motel One, and simultaneously reinforcing its presence in Germany.
The acquisition of these two hotels represents a €34 million investment. The establishments are under 20-year fixed leases and have a total of 450 rooms.
For Foncière des Régions, the leader in European hotel properties, budget hotels have strong growth potential in Germany, where the penetration rate of chains is still low.
“With this initial transaction, Foncière des Régions intends to support Motel One in its development, as we have done with our other hotel partners over the past ten years, such as Louvre Hotels Group, B&B Hôtels, and more recently, Meininger,” underlines Gaël Le Lay, Deputy CEO Hotels & Service sector.
With 48 hotels and nearly 13,000 rooms, Motel One is one of the most dynamic brands in budget hotels. Combining comfort and design, excellent locations and affordable prices, Motel One is aspiring to significantly grow its operations in Europe.
Source: Foncière des Régions