Travel News: Motel One releases quarter 2 financial results
Travel News: Pandemic leads to further losses in the first half-year. Increase in occupancy as a ray of hope for the remainder of the year
Munich, August 2021: The pandemic has left deep marks on the Motel One Group’s balance sheet in the second quarter of 2021. Due to the restrictions caused by the crisis, the total occupancy in the 77 hotels was only 16%, moderately above the occupancy of 12% in the second quarter of the previous year.
Sales of only EUR 29 million (previous year 21) led to a negative operating result of EUR 41 million (previous year 50).
The restart in June showed a positive ray of hope with an occupancy rate of around 25%, which continued into July with an expected 35%.
Despite continuing challenging economic conditions, affordable design hotel group Motel One maintains its strong market position and hopes for improved results for Q3 2021 due to an increase in domestic tourism, with further planned expansion in 2021 and beyond.
Key highlights for Q2:
• New openings in Germany: Motel One welcomed the opening of the Cologne-Messe Motel, its fourth hotel in the city on the banks of the Rhine and the newly developed MesseCity district in Cologne’s Deutz borough, close to the trade fair grounds and a short walk from Cologne Cathedral. The seven-storey hotel boasts 308 rooms, a lush green courtyard with an outdoor lounge, and meeting rooms and co-working spaces with interior design that reflects its media hub surroundings. Motel One Hamburg-Fleetinsel is flanked by the Herrengrabenfleet and the Alsterfleet, enjoying a waterside position that is also at the heart of the city centre. The hotel, which has 441 rooms and 12 apartments, is nestled between the Elbphilharmonie and the Alster river. Its design reflects Hamburg’s proud mercantile heritage; the colour palette, furniture design and decorative element all pay homage to the ‘Speicherstadt’ warehouse district that surrounds it.
• Social Media campaign: Following on from the group’s highly successful social media campaign in 2020, the 2021 ‘Travel Like a Local’ campaign saw bloggers show off their own cities and share ideas and genuine insider tips for a city break in much-loved Motel One cities. Over the summer, an array of local insiders will be shedding new light on their cities – Vienna, Cologne, Hamburg and Brussels.
Looking ahead, further new openings
Q3 sees the opening of Motel One Nuremberg-Hauptbahnhof, Stuttgart-Hauptbahnhof and Motel One Aachen go into operation. The locations will further enrich the group’s domestic network, especially at train stations, as Motel One continues to focus on contributing to sustainable mobility.
Motel One is confident that while it remains a great challenge and a balancing act to manage the effects of the pandemic it looks forward to a brighter future for global travel. While being prepared for all scenarios, the group continues to remain positive that society is succeeding in solidarity in learning to live with Covid-19 and its variants. On a firm and sure footing, the Motel One group is in a solid position to make the most of any opportunities for growth.
