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Growing Hotel Group MEININGER invests in property in Vienna

Berlin in January 2024
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New year, new look: MEININGER Hotel Wien Downtown Franz is to be renovated in 2024 following the prolongation of the contract until 2043.

What would Sissi be without Franz? In addition to the renovation of the MEININGER Hotel Wien Downtown Sissi, the MEININGER Hotel Wien Downtown Franz is also set to shine in new splendour next year. The hotel in Leopoldtstadt in Vienna's 2nd district has 131 rooms and 487 beds, a guest kitchen and game zone as well as other typical MEININGER amenities. True to the motto "imperial accommodation", the hotel is to undergo extensive modernisation work as part of a seven-figure investment. The improvements to the public areas and rooms should ensure an imperial welcome by the end of 2024.

Ajit Menon, CEO of MEININGER Hotels, on the reasons for the renovation: "A consistent standard of quality is very important to us. We are therefore investing in the refurbishment of the MEININGER Hotel Wien Downtown Franz to bring it up to our latest standards. This is in line with our sustainability approach and the values we stand for as a company." The decision to renovate followed the contract with the landlord LLB Immo KAG being extended until 2043.

As a subsidiary of the Liechtensteinische Landesbank (Österreich) AG, LLB Immo KAG has been active in the real estate investment fund business for many years and purchased the property for one of its real estate funds which is certified by the ecolabel UZ49.

"We see MEININGER Hotels as a strong partner, who shares our views on sustainable use of properties. In all measures high attention is paid to sustainability and building material ecology. Focus is here also on obtaining a declaration by ecolabel klimaaktiv" Michael Schoppe, Managing Director of LLB Immo KAG.

Refurbishment works are scheduled to start at the beginning of 2024. "We look forward to further cooperaton and to the result of the refurbishment" Alexander Hauer, Asset Manager at LLB Immo KAG.

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