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Munich (dpa / lby) - It is the first loss in the company's history and a huge one: the Motel One hotel chain lost 102 million euros before taxes last year.
The current year is not getting any better, as the founder and outgoing CEO Dieter Müller said on Wednesday, “maybe even a little worse”.
Nevertheless, the company wants to continue its growth strategy.
The pandemic and the closings of the hotel industry hit Motel One head-on.
The turnover, which was mostly generated at the beginning of the year, collapsed by almost three quarters to 209 million euros.
"In the situation, of course, the reserves melt," said Müller.
They burned around 100 million euros, but started the year with high levels of liquidity.
The pandemic also hit jobs.
The crisis started with 2,600 employees, at the end of the year it was just over 2000, said Müller.
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Motel One has not received any corona aid in Germany so far.
Only with the extended November and December aid is one eligible to apply, said Müller.
He expects a total of around 40 million euros for the two months.
He doesn't have a decision yet.
After the end of the pandemic, Müller expects that it will take until the end of 2023 for the 2019 level to be reached again.
The fact that there should be fewer business trips, which currently account for around two thirds of business, also plays a role.
Müller hopes to compensate for this with more tourists.
Motel One is continuing its growth strategy.
By 2024, the number of houses is to increase from currently 75 to 102.
The co-chairman of the board, Stefan Lenze, even sees opportunities from the pandemic: It creates many more interesting opportunities on the real estate market.
© dpa-infocom, dpa: 210324-99-951945 / 2