Morgan Stanley Buys into German Hotel Company

Acting through its Special Situations Fund III, Morgan Stanley Real Estate will soon make a move in the German hospitality market with the acquisition of a 35 percent interest in Motel One Management GmbH, the holding company for Motel One properties and operations. Morgan Stanley has committed to purchasing existing shares from Motel One AG, which will hold on to a 65 percent equity stake in the budget designer hotel company. Headquartered in Munich, Motel One operates 17 hotels with an aggregate 2,300 guestrooms.