The German budget hotel chain Motel One will open its first property in the United States, in New York, following an agreement with Union Investment to take over the operation of a former Courtyard by Marriott hotel.
According to a press release from Union Investment, Motel One signed a 20-year lease on the property and resumed operations on July 21.
The group is preparing to carry out “a refurbishment and a rebranding” of the establishment.
The property is located near the World Trade Center complex, and has been operating as a Courtyard hotel since 2016.
Motel One already operates hotels at eight properties owned by Union Investment, and Martin Schaller, Head of Asset Management Hospitality, said:
As the largest owner of Motel One, we are delighted to have the opportunity to extend our long-standing strategic relationship outside of Europe as well. We look forward to jointly bringing this successful lifestyle concept to the local market and worldwide travelers in the heart of New York City very soon.
Motel One was launched in 2000 with low-cost properties located close to German motorways, but has steadily expanded its portfolio to around 75 hotels across Europe, including city-center properties in UK cities like Edinburgh, Glasgow, London, Manchester and Newcastle.