Motel One expands in Europe

The German Motel One chain offering cheap accommodation, wants to expand abroad. Dieter Müller, CEO of Motel One said to FTD, that they would like to be present in all European capitals, in long terms.

Motel One operates motels in 26 German cities currently and they has a total of 4460 rooms. Until 2011, the chain will open two units in Austria and would like to build out the entire European network in ten years. The chain reached 43 million euros in revenue and 5.3 million pre-tax profit. According to their plans they would like to reach 8.5 in 2009 and 12 million euros pre-tax profit in 2010 – reports Világgazdaság Online after TD News.