S&P rates Motel One loan B-

S&P said it assigned a preliminary B- long-term issuer credit rating to One Hotels & Resorts GmbH and to its subsidiary, One Hotels GmbH, and a preliminary B- issue and 3 recovery ratings to One Hotels' proposed term loan B.

The outlook is stable.

One Hotels launched syndication of an €800 million seven-year term loan B and a €100 million 6.5-year revolving credit facility, the proceeds of which will be used by its parent, One Hotels & Resorts GmbH, to purchase the 35% minority stake that Proprium Capital Partners owns in Motel One GmbH, One Hotel & Resorts GmbH's property subsidiary, thereby increasing its stake to 100%.

One Hotels & Resorts GmbH, together with its subsidiaries One Hotels GmbH and Motel One Real Estate GmbH, will receive the commercial name Motel One and hereafter are referred to as the Motel One group.

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