Motel One, a German budget hotel chain, completed the acquisition of the remaining 35% stake in One Hotels & Resorts, a hotel chain operator, from Proprium Capital Partners, a private equity firm, for €1.25bn. “We are proud to have been a long-term partner to Dieter Müller and the Motel One team on its impressive growth journey for more than 15 years. Motel One has delivered outstanding profitable growth since inception by combining a unique design-led hotel concept, a disciplined and cash generative business model and an entrepreneurial culture. While the sale of our stake in Motel One will generate very attractive returns for our investors, we leave Motel One very well positioned with an enormous potential for future growth. The investment in Motel One exemplifies Proprium's commitment to platform investing, aimed at delivering outsized private equity returns within the real estate industry," Philipp Westermann, Proprium Partner & Head of Europe.