MUNICH, April 9 Reuters Germany39;s Motel One has been placed back in the hands of its founder in a deal valuing the company at 4.1 billion euros 4.46 billion and paving the way for plans to take the hotel chain public, it said on Tuesday.

One Hotels and Resorts GmbH, the investment group of founder Dieter Mueller, bought back Proprium Capital Partners39; 35 stake for 1.25 billion euros, giving the majority shareholder sole ownership, according to a statement from the company.

Motel One said it had spun off its hotel properties in preparation for an initial public offering as part of the deal.

The buyout and the spinoff of the properties are important steps for Motel One in preparation for the planned IPO in the medium term, Mueller said in the statement.

In October last year, Mueller told the AHGZ industry news outlet that he planned an IPO in the next two to three years.

Proprium39;s investment in Motel One has more than paid off. It invested 65 million euros in 2007 as part of a capital increase. The Financial Times reported that this investment had increased over twentyfold, including dividend payments.

Motel One, which runs 94 hotels in 13 countries, said it expects earnings to grow in 2024 as it plans to open seven new hotels.

In 2023, the company generated revenue of 852 million euros and earnings before interest, taxes, depreciation, and amortization EBITDA of 281 million euros.

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Reporting by Alexander Huebner, Writing by Rachel More;…