German budget hotel group Motel One has reported sales of €394m for the first half of the year, an increase of 64% year-on-year.
That gave it a pre-tax profit of €93.1m - almost two and a half times the figure recorded in the first half of 2022.
Motel One Group said it had an average occupancy rate of 69% in the first half of 2023, up from 51% in the same period of last year.
In the second quarter alone the occupancy rate rose to 77%.
Motel One recently opened its first Irish hotel, on Dublin's Middle Abbey Street.
In addition to a new opening in Mannheim, Germany, it brings the number of rooms in the group above 25,000.
It also recently agreed a rental contract on a new location in London, which will result in its ninth hotel in Britain.
Further new openings in Germany are planned for the second half of this year, along with the expansion of its Cloud One Hotel brand.
"Motel One has had a strong first half of 2023, and this looks set to continue with a healthy number of advanced bookings being made for the autumn and winter months," said Daniel Müller, co-CEO of Motel One Group. "As we move into Q3 and Q4, we're looking at underlining the group's international growth strategy, with further openings and new locations secured in Germany, Italy and the UK."
