MEININGER Hotels and Foncière des Régions signed an agreement for a new hotel in Munich near the Olympic Park.
MEININGER Hotels and Foncière des Régions, through its subsidiary Foncière des Murs, signed an agreement for a new MEININGER Hotel in Munich located on Landshuter Allee, close to the Olympic Park. This is the first joint hotel project of MEININGER and Foncière des Régions, who announced a strategic investment partnership in December 2014.
The MEININGER Hotel Munich Olympic Park is going to be the second MEININGER hotel in Munich and is scheduled to open by the end of 2017. Located in a former office building, the property will be converted into a hotel. MEININGER will lease the premises from Foncière des Régions for an initial term of 20 years. The vendor of the property is the alstria office REIT-AG.
The new hotel will feature 173 rooms and 820 beds on seven floors; well-equipped with TV, free wifi and en-suite bathrooms all to a high specification. The basement area will offer underground parking. All public areas will be located on the ground floor, including a lobby, lounge and breakfast area. Exceptional for a hotel but standard and typical for a MEININGER hotel are the guest kitchen and the games zone, which are also part of the public areas.
The hotel will have a gross floor area of 12,382 sq m, including underground parking.
Due to its location at the Mittlerer Ring, which offers connections to all main motorways, the hotel is easily accessible from all directions. The Central Station can be reached within 10 minutes by tram.
Navneet Bali, CEO of the MEININGER Hotels says: “It’s a great pleasure to sign our new project with Foncière des Régions. Munich is one of our most successful markets and the planned hotel will be a great addition to our growing portfolio.”
Dominique Ozanne, CEO Hotels & Hospitality Management of Foncière des Régions, says: “This agreement launches the pan- European’s partnership between Foncière des Régions and MEININGER. For this operation, ideally located in Munich, we will deploy all of our real estate expertise, leaning on our local teams, to transform this office building into an innovative and trendy hotel adapted to MEININGER’s positioning.”
MEININGER is a subsidiary of Holidaybreak Ltd, the European Education & Leisure specialist activity travel group. Holidaybreak Ltd is a subsidiary of Prometheon Holdings (UK) Ltd, which is a part of Cox & Kings Ltd. Cox & Kings Ltd is listed on National Stock Exchange and BSE Ltd and also on Luxembourg Stock Exchange.
MEININGER provides the service and comfort of an international budget hotel with a combination of regular and multi-bedded rooms, guest kitchens and game zones. The central location, high quality furnishings and good value appeal to a variety of business and leisure customers. With innovative design and an enthusiastic team supporting it, MEININGER hotels provide a unique hotel experience that has proven popular with guests from across the world.
The bedrooms range from traditional double rooms through to rooms with multiple beds and dormitories, and are tailored and adapted to the particular target market the hotel is catering to in a specific location. The unique layout and design of a MEININGER Hotel enables it to cater equally to school groups, families, individual travellers and corporate guests.
MEININGER currently operates 16 hotels in Europe, with a total of 7,025 Beds in 10 European cities including Amsterdam, Berlin, Brussels, Frankfurt, Hamburg, Cologne, London, Munich, Salzburg and Vienna. It has ambitious plans for growth, and is keen to establish a presence in all key European cities within the next five years.
In the ‘Treugast Investment Ranking 2013’, the MEININGER Group achieved an AA rating. The group is headquartered in Berlin.