1 QUARTER 2013 REPORT I MOTEL ONE GROUP KEY FACTS BUSINESS DEVELOPMENT GERMAN SERVICE PRIZE German Service Prize 2013 PAGE 1

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1 1 QUARTER 2013 REPORT I MOTEL ONE GROUP KEY FACTS German Service Prize 2013 PAGE 1 Occupancy improves to 67% PAGE 2 New financing for Vienna State Opera project PAGE 3 Balance sheet total virtually unchanged PAGE 4 Strong pipeline with 30 hotels and 8,400 rooms PAGE 5 New contracts in Stuttgart and Manchester PAGE 5 German hotel market appears robust PAGE 6 Motel One Dresden (Zwinger) opened PAGE 6 BUSINESS DEVELOPMENT GERMAN SERVICE PRIZE 2013 In February, Motel One was awarded the German Service Prize in the tourism category by the German Institute for Service Quality. The examiners reviewed the quality of service provided by phone and . Waiting time, ambiance of conversation and friendliness and competence were the key criteria here. Motel One stood out in particular due to the friendly and expert advice it provided both by phone and by .

2 OCCUPANCY IMPROVES TO 67% As in the previous quarter, there are 42 hotels (previous year: 39) with 9,221 rooms (previous year: 8,433) in operation. The Group owns 41% of the capacity (previous year: 39%) while 59% of the hotels are subject to long-term leases. Despite the Easter shift, occupancy in the traditionally weaker first quarter improved to 67% (previous year: 63%). Revenue rose by 18% to EUR 42 million (previous year: 36 million). Return on sales remained the same as the previous year at 53.1%. P& L St atem ent Q Abw. No. Hotels No. Rooms - Rooms owned - Rooms rented , , ,0 9, , ,0 8, , ,0 9,9 Occupancy (%) 66,9 63,2 5,9 RevRoSold (EUR) 76,8 74,0 3,8 TEUR % TEUR % % Vj. Revenue EBITDAR Lease payments EBITDA ex Head Office Pre-Opening Expenses Head Office Expenses EBITDA Amortisation/Depreciation Interest Expenses EBT Tax Net Income , ,0 18, , ,1 18, , ,3 32, , ,8 13, , ,6-6, , ,7 15, , ,4 13, , ,9 10, , ,8 25, , ,7 12, , ,4 29, , ,3 6,5 Due to rental charges and head office costs which were higher than the previous year, EBITDA rose a mere 13% to EUR 13 million (previous year: 11 million). After depreciation and interest, earnings before tax (EBT) rose to EUR 6.3 million (previous year: 5.6). Post-tax quarterly profit generated was EUR 4.3 million, up 7% over the previous year s EUR 4 million. 1 QUARTER 2013 REPORT I MOTEL ONE GROUP 02

3 NEW FINANCING OF VIENNA STATE OPERA PROJECT Cash flow for operating activities increased to EUR 5.1 million (previous year: 3 million), taking into account depreciation and after deduction of investments in renovations. Changes in working capital totalled EUR 7.0 million (previous year: 2.0 million) and mainly relate to a prepayment for the Vienna State Opera project of EUR 3 million and the final payment for the Edinburgh construction project of EUR 3.5 million. Scheduled bank loan repayments amounted to EUR 1.5 million (previous year: 0.7 million). Cash Flow Statement Net Income + Amortisation/Depreciation - CAPEX replacement investments Cash Flow operating acitivities +/- Working Capital - Repayment of bank loans Free Cash Flow - New investments +/- JV Partner loans + Bank loans & Grants Cash Flow new investments +/- Equity Minority s Change of liquidity Cash carried forward Cash at bank & in hand 2013 Q Abw. TEUR % TEUR % % Vj , ,3 6, , ,9 10, , ,4-24, , ,5 68, , ,7 <100, , ,8 >100, , ,9 >100, , ,1 4, , ,6 >100, , ,7 <100, , ,8 >100,0 6 0,0 0 0,0 >100, , ,9 >100, , ,5 New investments of EUR 7.5 million (previous year: 7.1 million) were made for the company s own property developments in Düsseldorf (central station), Bremen and Vienna State Opera. The Joint Venture Partner Verkehrsbüro made a proportionate contribution of EUR 10.3 million (previous year: 0.2 million) for the repayment of the Vienna State Opera loan. Bank loans of EUR 5.3 million (previous year: 4.9 million) were taken out to finance the investments. In return a repayment was made of the bank loan taken out in the purchase for the Vienna State Opera project of EUR 17.2 million. There was an overall decrease of EUR 13 million (previous year: 2 million) in cash at bank and in hand in the first quarter 2013 to current cash at bank and in hand of EUR 45 million (previous year: 35 million). 1 QUARTER 2013 REPORT I MOTEL ONE GROUP 03

4 BALANCE SHEET TOTAL VIRTUALLY UNCHANGED The balance sheet total is virtually unchanged compared to at EUR 379 million (previous year: 317 million). The main changes in assets are the EUR 6 million gain in fixed assets, the EUR 5 million increase in current assets and the EUR 12 million decrease in liquid funds. Balance Sheet March, December, Abw. TEUR % TEUR % TEUR % Fixed assets Current assets Cash at bank & in hand Cash & Assets , , , , , , , , , , #DIV/0! -22, ,5 Equity , , ,5 JV Loan Bank Loans , , , , > 100, ,1 Other Liabilities Non repayable grant Equity & Liabilities , , , , , , , #DIV/0! -6, ,5 Working Capital Net Debt Debt Pipeline EBITDA Net Debt/EBITDA , , , , , ,4 Net Debt/EBITDA adj.pipeline 1,9 1,1 0,8 Under liabilities, apart from the profit-related growth in equity of EUR 4 million, the changes are mainly due to the EUR 10 million increase in the JV loans of the Verkehrsbüro Group and the EUR 14 million decrease in bank loans. Net debt remained virtually the same at EUR 110 million (previous year: 111 million). The bank loans relating to the pipeline have decreased by EUR 27 million since due to the repayment of the Vienna State Opera loan and the commissioning of the hotel in Edinburgh. Based on the extrapolated EBITDA for the quarter of EUR 12 million, the net debt/ebitda ratio increased to 2.2x, and, adjusted for the pipeline, to 1.9x. It should be borne in mind here that extrapolating the quarterly results is only of limited value due to seasonal differences. 1 QUARTER 2013 REPORT I MOTEL ONE GROUP 04

5 STRONG PIPELINE WITH 8,400 ROOMS The pipeline currently has 30 hotels with 8,400 rooms, of which around 1,900 are developed for the Group s own portfolio and around 6,600 rooms by outside investors under long-term leases. With 14 hotels and 4,300 rooms, around 51% of the pipeline is outside Germany. There are currently 13 hotels under construction with 3,600 rooms. Two hotels were secured in Q1 in Stuttgart (Bad Cannstatt) and Manchester. Pipeline March, 31 December, 31 Veränderungen /- Hot Rooms % Hot Rooms % Hot Rooms % Owned Hotels , , ,1 Rented Hotels , , ,4 Total Pipeline , , ,2 - Pipeline International , , >100,0 - Hotels under construction , , ,0 TEUR TEUR TEUR Owned Hotels , , >100,0 Rented Hotels , , ,7 Invest Plan , , ,7 FF&E grants , ,5 0 0,0 Bank loans , , ,5 Finance Plan , , ,1 Cash requirements , , >100,0 > - Cash , , ,0 - Cash following years , , ,4 The pipeline s investment commitments totalled EUR 182 million. These are matched by loan commitments of EUR 109 million and investment subsidies of EUR 6 million, leaving a cash requirement of EUR 67 million. EUR 35 million of this relates to the current financial year 2013 and EUR 32 million to following years. As in previous years, based on the good earnings position, any cash required for growth can largely be generated from the free cash flow of the hotels. 1 QUARTER 2013 REPORT I MOTEL ONE GROUP 05

6 MARKET AND OUTLOOK The hotel market in Germany and Austria was already showing a levelling off in growth in Q with a RevPAR Plus of only 1.4% and 0.4% respectively. For Europe as a whole, STR shows stagnation at the level of the previous year. UK, the Netherlands, Belgium, Switzerland, the Baltic States and Greece showed a marked decline due to the state of the economy. Growth was uneven as far as German destinations were concerned, with the top destinations of Berlin, Munich and Frankfurt showing excellent growth, while Hamburg and Dresden in contrast showed a decline, as did Düsseldorf and Essen due to trade fairs (source: STR Global). MOTEL ONE DRESDEN (ZWINGER) OPENED Next to the Schauspielhaus and with a view of the famous baroque monument the Dresden Zwinger, the second Motel One in Dresden, the Group s 43rd hotel, opened in April with 288 rooms. This was followed in May by the opening of the Motel One Düsseldorf (central station). Autumn will see another five new hotels in Cologne (Mediapark), Rostock, Frankfurt (trade fair centre) and Vienna (Prater), as well as the second Motel One in Edinburgh. No serious changes are expected in terms of market performance. In line with estimates of GDP, growth is expected to flatten out further. Munich, April QUARTER 2013 REPORT I MOTEL ONE GROUP 06

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