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MEININGER Hotels, Europe's leading hotel group, and private equity firm VIYM, which specialises in growth capital and hospitality investments across Russia, CIS and Europe, have today announced the signing of a management agreement. The resulting project will see Germany's MEININGER Hotels open their first ever hotel-hostel hybrid in Russia, as part of VIYM's Nikolskiye Ryady development in Saint Petersburg.

The overall cost of the Nikolskiye Ryady project, including both hotel properties - the MEININGER Hotel and Holiday Inn Express - is expected to be around USD 50 million.

The hotel-hostel hybrid will have 158 rooms, with a total area of 7,300 m2, allowing guests to enjoy the central location, reasonable prices and vibrant modern atmosphere that MEININGER Hotels are known for. The operator is already actively participating in the drafting of construction blueprints, to ensure that the new property is built in accordance with the highest international quality standards. Upon completion of construction, this will be the very first budget hotel managed by an international operator in Russia.

Hannes Spanring, CEO of MEININGER Hotels, says: "With our first hotel in Russia, MEININGER once again enters a new market. Saint Petersburg is the second largest city in Russia, and this diverse and interesting metropolis is continuously evolving. It is the second largest economic and financial centre in the country, one of Russia's largest scientific and educational centres, as well as an international centre for culture and tourism. I'm happy that MEININGER is becoming a part of this attractive city."

Commenting on the agreement, VIYM's co-founder Andrey Yakunin said: "We see that St Petersburg has again been voted the No 1 Destination in Europe. However we are also witnessing a significant shift in the structure of the demand, with low-budget accommodation steadily growing and out-performing other segments. Growth in international independent travellers, the international operated airport in St Petersburg and the increasingly active development of domestic tourism are just a few of the factors underlying this trend, while the approaching FIFA 2018 World Cup should also not be ignored. We at VIYM are continually seeking to introduce new hospitality products to Russia and work together with the leading European and international players for them to enter this vibrant and exciting, yet complicated, market."

The Nikolskiye Ryady project involves the restoration of the historic former Nikolsky Market site, located in the heart of Saint Petersburg. This 26,000 m2 site will be redeveloped into a multi-functional complex, comprising mid-range and affordable hotel properties: a 3-star hotel and a hotel-hostel hybrid, run by Holiday Inn Express and MEININGER Hotels, respectively. Both hotel properties will offer the ideal accommodation for city breaks, business trips, school trips, group tours, round-the-world trips and family excursions.

The design of each MEININGER hotel is based on a specific theme. The aim is to create a welcoming space, of a distinctive character, where guests feel comfortable and willing to share their experiences. In Saint Petersburg, the basis for the local connection was the market hall itself and its former usage as a market place and enamel factory. Complementing this are the various unique features of Saint Petersburg: the legendary white nights, the golden triangle and the very name 'Venice of the North' - which all together inspired the 'St Pete' theme. The theme will be executed by the Lundwall Architects, who are responsible for planning and implementing the interior design for the project.

Because of their central location, the Nikolskiye Ryady hotels will be within walking distance of some of Saint Petersburg's most notable cultural and historical attractions, such as the Troitskiy Cathedral, Saint Nicholas Naval Cathedral, Yusupov Palace and Mariinsky Theatre. The city centre can be reached in 10 minutes by car or 30 minutes by foot. The nearest underground station is a 15 minute walk away. Several minibus lines and tram stations are located in the immediate vicinity, on Sadovaya Street, which, as one of Saint Petersburg's major thoroughfares, also allows easy access to the hotels by car. Moreover, the underground station Teatralnaya, which is expected to open in 2020, will only be a 10 minute walk away from the hotels.

Background information on the hotel market in Russia

• Tourist flow to Saint-Petersburg reached 6.5 million in 2015, which is a 15% increase compared to 2014. In September 2016, Saint-Petersburg was named as Europe's Leading Destination for the second year in succession by the World Travel Awards.
• According to market experts, Russia is the largest market of the CIS, with 159 internationally branded hotels (33,600 rooms) in operation and around 140 hotels (24,400 rooms) in the pipeline.
• Moscow, Saint Petersburg and Sochi remain the most developed markets, accounting for 70% of all internationally branded hotels in Russia.
• 76% of the room stock nationally is distributed among the top-five market players: Rezidor, Accor, Marriott, InterContinental and Hilton.
• It is envisaged that, by 2020, the total number of hotels managed by international operators in Russia will increase by 118 (amounting to 23,450 rooms). Today, international hotel operators are present across 38 different cities in Russia - a figure which is predicted to rise to 54 by 2020.
• A number of large-scale political, social and sporting events represent the main drivers for the expansion of international hotel operators into Russia's regions.

About MEININGER hotels

MEININGER is a subsidiary of Holidaybreak Ltd, a travel group specialising in educational and activity holidays. Holidaybreak Ltd is a subsidiary of Prometheon Holdings (UK) Ltd, which is a part of Cox & Kings Ltd. Cox & Kings Ltd is listed on the National Stock Exchange, the BSE Ltd and also on the Luxembourg Stock Exchange. MEININGER is a unique hotel product that combines the service and comfort of an international budget hotel with extra facilities, such as a guest kitchen and a games zone.

The central locations, high quality furnishings and fair prices appeal to people of all ages and backgrounds. With the right dose of MEININGER humour and an enthusiastic team, MEININGER hotels become a real home away from home for guests from all over the world.

MEININGER currently operates 16 budget hotels in Europe, with a total of 7,025 beds in 10 European cities (1x Amsterdam, 4x in Berlin, 1x Brussels, 2x Frankfurt/Main, 1x Hamburg, 1x Cologne, 1x London, 1x Munich, 1x Salzburg, 3x Vienna). Contracts have already been signed for 14 new hotels, with a total of 8,905 beds: in Amsterdam, Barcelona, two in Berlin, Budapest, Heidelberg, Copenhagen, Leipzig, Milan, Munich, Paris, Rome, Zurich and now also Saint Petersburg.

About VIYM

VIYM (AUM USD 400mln) is an authorised Alternative Investment Fund Manager, regulated in Luxembourg and dedicated solely to private equity services for international investors seeking investment consulting, deal origination and asset management. VIYM targets those who seek a diverse and comprehensive strategy and provides them with exposure to a balanced risk/return profile between the established European markets and the fast-growing, emerging opportunities of Russia and other CIS economies. To provide stable returns and value-added upside potential, the firm varies its investments from the growth capital markets of Small and MidCaps to secure real estate investments.

About Nikolskie Ryady
The Nikolskie Ryady project involves the restoration of the historic former Nikolsky Market site, in the heart of Saint Petersburg, and its further development into a multifunctional complex, comprising mid-range and affordable hotel properties, run by leading European operators. Nikolsky Market is conveniently located in the Kolomna area, one of the oldest neighbourhoods in Saint Petersburg. The Nikolsky Market is within walking distance of some of the Northern Capital's most sought-after attractions, including the Mariinsky Theatre, one of the most famous Opera and Ballet Theaters in the world.

Contacts for media
From VIYM
Anna Yarmarkova, EM
Yarmarkova@em-comms.com
+7 926 204 76 57

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MEININGER Hotel Group and Pandox AB signed a lease agreement for a hotel in Copenhagen. The Urban House Copenhagen Hostel is currently operated by Pandox. MEININGER will be taking on the new 218 room hotel on the 1^st January 2017. The hotel will be undergoing a soft refurbishment throughout the first 12 months of operation.

The Urban House Copenhagen is located in the hip and vibrant district Vesterbro, which is popular with young and creative people not least because of its numerous cafes, wine bars, restaurants, clubs and galleries. Situated close to the city center, the future MEININGER Hotel is the perfect starting point to explore the city. The primary attractions of the city are within walking distance of the hotel. Due to its proximity to the main train station it can be reached quickly and conveniently by public transport.

The total of 218 rooms with around 1,000 beds is spread over 5 floors in 4 adjacent old buildings, which form the building complex of the hotel. The room types range from standard double rooms, to private rooms with multiple beds through to a bed in a dormitory. All public spaces including lobby, lounge, quiet room, cinema room, restaurant and bar as well as guest kitchen and games room are located on the ground floor. The hotel has a gross floor area of 7,898 m^2.

Hannes Spanring, CEO of MEININGER Hotels, says: “We are happy to operate our first MEININGER Hotel in Scandinavia as of the beginning of next year. Copenhagen is a great destination - a young, dynamic but also historic city.

The current concept of the Urban House Copenhagen is similar to the MEININGER hybrid concept, which enables a quick transition from Urban House to MEININGER´s urban traveller´s home.”

About MEININGER hotels

MEININGER is a subsidiary of Holidaybreak Ltd, a travel group specialising in educational and activity holidays. Holidaybreak Ltd is a subsidiary of Prometheon Holdings (UK) Ltd, which is a part of Cox & Kings Ltd. Cox & Kings Ltd is listed on the National Stock Exchange, the BSE Ltd and also on the Luxembourg Stock Exchange.

MEININGER is a unique hotel product that combines the service and comfort of an international budget hotel with extra facilities, such as a guest kitchen and a games zone. The central location, high quality furnishings and fair prices appeal to people of all ages and backgrounds. With the right dose of MEININGER humour and an enthusiastic team, MEININGER hotels with their guests from all over the world become a real home away from home.

The bedrooms range from traditional double rooms through private rooms with multiple beds right down to a bed in a dorm room. The hotels are tailored and adapted to the specific location and the market served by the hotel. The unique and flexible design of each hotel makes it possible to appeal to various target groups alike, such as school groups, families, individual travellers and corporate guests.

MEININGER currently operates 16 low budget hotels in Europe, with a total of 7,025 beds in 10 European cities (1x Amsterdam, 4 x in Berlin, 1 x Brussels, 2 x Frankfurt/Main, 1 x Hamburg, 1 x Cologne, 1 x London, 1 x Munich, 1 x Salzburg, 3 x Vienna). Contracts for 13 new hotels, with a total of 8,357 beds, in Amsterdam, Barcelona, two in Berlin, Budapest, Heidelberg, Leipzig, Milan, Munich, Paris, Rome, Zurich and now also Copenhagen have already been signed.

In the ‘TREUGAST Investment Ranking 2016’, the MEININGER Group achieved an AA rating. The group is headquartered in Berlin.

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The MEININGER Group is to open its first hotel in Switzerland in the sustainable Zurich district of Greencity. MEININGER and the turnkey contractor Losinger Marazzi AG have signed a corresponding contract. The hotel will have some 170 rooms and about 600 beds. The hybrid concept, an innovation in Switzerland, envisages classical double rooms, private multi-bed rooms and shared multi-bed rooms. For Greencity, the hotel represents a major enrichment and a further vitalisation of the district.

The MEININGER Hotel will be constructed in the seven-storey Ingres building. This belongs to the cluster of office buildings marking the entrance to Greencity coming from the city centre. The Ingres design is by the prestigious Zurich architectural firm of Gigon/Guyer. Losinger Marazzi will submit the planning application for the building during the first half of 2017. The opening of the hotel is scheduled for the end of 2019.

The hotel will possess some 170 rooms together with about 600 beds. The mix corresponds to the hybrid concept, which MEININGER already successfully operates in various other cities in Europe. This combines the focus on different market segments with an international positioning and exceptional furnishings. This flexible mix of classical double rooms, private and shared multi-bed rooms will allow the hotel operator to cater to a wide spectrum of target groups, ranging from corporate guests, via families and individual travellers through to tourists and school groups. All the public spaces, such as the lobby, lounge, bar, breakfast room and terrace will be located on the ground floor of the building. Typical for MEININGER hotels are a game zone and a well-equipped guest kitchen, where customers will be able to prepare their own meals at any time, day or night.

Greencity ideal for the MEININGER concept
The location of Greencity is ideal for the concept of the new hotel. Up to 3,000 jobs will be created in the Greencity offices. There are also a large number of companies with international businesses located in the nearby Zurich South. The city centre touristic attractions are only a few minutes away by S-Bahn. An attractive recreational area is situated close by. For tourist groups travelling in Switzerland, Greencity is also an ideal stopover at the gateway to the hinterland of Switzerland with direct motorway access.

An enrichment for the city of Zurich’s flagship project
The hotel will represent a major enrichment for a Greencity, a district rapidly growing in height, and contribute to vitalising the district. According to Ulrich Blessing, Deputy Head of the Zurich Property Development Department at Losinger Marazzi AG: “We are aiming at a diverse mix of use in Greencity – and the hotel is a key element in this regard.” An urban space will be created in the new district comprising 731 apartments, offices, businesses, restaurants and public institutions, such as a primary school. Greencity is seen as a flagship project for the city of Zurich. The area has already twice been awarded the 2000-Watt-Area Certificate by the Energy City Sponsoring Association and has also committed itself to the principles of sustainability in relation to social variety and mobility. The district has been developed and realised by the turnkey contractor Losinger Marazzi AG.

A shared vision
The MEININGER Hotel Group and Losinger Marazzi AG are linked by a shared vision: the creation of future-oriented and liveable projects with sustainable ideas. Greencity thus gains an innovative partner that shares the ideas, values and goals of the 2000-Watt Society. Hannes Spanring, CEO of MEININGER Hotels, states: “We are pleased that the plans to open a hotel in Switzerland have firmed up with a hotel project in Zurich. Zurich is an interesting city which for many reasons attracts numerous tourists and is also the home for many renowned companies. The hotel will be an exceptional addition to our portfolio.”

About MEININGER Hotels

MEININGER is a subsidiary of Holidaybreak Ltd, a travel group specialising in educational and activity holidays. Holidaybreak Ltd is a subsidiary of Prometheon Holdings (UK) Ltd, which is a part of Cox & Kings Ltd. Cox & Kings Ltd is listed on the National Stock Exchange, the BSE Ltd and also on the Luxembourg Stock Exchange.
 
MEININGER is a unique hotel product that combines the service and comfort of an international budget hotel with extra facilities, such as a guest kitchen and a games zone. The central location, high quality furnishings and fair prices appeal to people of all ages and backgrounds. With the right dose of MEININGER humour and an enthusiastic team, MEININGER hotels with their guests from all over the world become a real home away from home.
 
The bedrooms range from traditional double rooms through private rooms with multiple beds right down to a bed in a dorm room. The hotels are tailored and adapted to the specific location and the market served by the hotel. The unique and flexible design of each hotel makes it possible to appeal to various target groups alike, such as school groups, families, individual travellers and corporate guests.
 
MEININGER currently operates 16 low budget hotels in Europe, with a total of 7,025 beds in 10 European cities (1x Amsterdam, 4 x in Berlin, 1 x Brussels, 2 x Frankfurt/Main, 1 x Hamburg, 1 x Cologne, 1 x London, 1 x Munich, 1 x Salzburg, 3 x Vienna). Contracts for 12 new hotels, with a total of 7,517 beds, in Amsterdam, Barcelona, two in Berlin, Budapest, Heidelberg, Leipzig, Milan, Munich, Paris, Rome and now also Zurich have already been signed.

In the ‘TREUGAST Investment Ranking 2016’, the MEININGER Group achieved an AA rating. The group is headquartered in Berlin.

About Losinger Marazzi AG:

Losinger Marazzi AG is a leading company in Switzerland in the fields of property and district development, general and turnkey contracting. It is characterised by innovative and holistic solutions in the financing, development and realisation of projects. As a subsidiary of Bouygues Construction, Losinger Marazzi AG combines the strength of a major international corporation with the flexibility of a locally anchored company. It has 800 employees and achieves an annual turnover of almost 800 million francs.

As a pioneer in the field of sustainable construction, over 95 percent of its project developments are certified. In addition, Losinger Marazzi AG has also developed and realised the first 2000-Watt areas to be certified by the Energy City Sponsoring Association in Switzerland. These are the sustainable districts of Greencity in Zurich and “Im Lenz” in Lenzburg. The Erlenmatt West area in Basel was successfully handed over at the end of 2015. Sustainable construction allows ecologically and economically efficient solutions to be found for the entire life-cycle of a building. By designing liveable and future-oriented projects together with their clients, Losinger Marazzi AG contributes to the well-being of all concerned. The group has its headquarters in Berne.
www.losinger-marazzi.ch

Contacts for media enquiries
Greencity Media Office
Felix Müller, FMKomm GmbH, Zurich
T +41 44 382 88 00
M +41 79 416 62 38
Email : info@fmkomm.ch
www.greencity.ch

MEININGER Hotel Group
Anja Kühnel, Director of Marketing & Communications
T +49 30 666 36 170
M +49 174 182 59 59
Email: anja.kuehnel@meininger-hotels.com
www.meininger-hotels.com

Losinger Marazzi AG
Emily Unser, Communication Officer
T +41 58 456 74 53
M +41 79 432 47 22
Email: e.unser@losinger-marazzi.ch
www.losinger-marazzi.ch

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MEININGER Hotels and the Italian leading property company Beni Stabili SIIQ have signed an agreement for a hotel in Milan. The building is situated at Piazza Monte Titano in front of the Lambrate railway station. The 131-room, 491-bed hotel is expected to open in early 2018.
The MEININGER Hotel in Milan is going to be the second of the group in Italy. MEININGER will be opening a hotel in Rome next year.

Due to its direct location at Lambrate railway station, the hotel enjoys excellent public transport connections. Sights like the Teatro alla Scala and the Milan Cathedral can be reached within 15 minutes by tramway, whereas Linate airport is only 25 minutes away by bus.

The former office building, which has a gross floor area of 7,562 sq. m., will be converted into a hotel in accordance with MEININGER standards. The flexible room structure will range from traditional double rooms through private rooms with multiple beds right down to a bed in a shared multi-bed room. The interior design will be based on a specific theme associated with the city.

Hannes Spanring, CEO of MEININGER Hotels says: “We are happy to open a MEININGER hotel in this diverse and interesting city. With its history and culture, Milan is an important tourism destination with people visiting from all over the world. It is also the design and fashion capital of the world. Milan is a leading business hub and trade-fair city with a steady stream of traffic throughout the year. As the second largest city in Italy, it is an important location for us and an excellent addition to the MEININGER portfolio.”

Peter Kerkar, Director, Cox & Kings Ltd said, “The new signing widens MEININGER’s footprint in continental Europe. We are enthused by our customers’ love for the MEININGER brand, which is enabling us to scale up rapidly.”

About MEININGER hotels

MEININGER is a subsidiary of Holidaybreak Ltd, a travel group specialising in educational and activity holidays. Holidaybreak Ltd is a subsidiary of Prometheon Holdings (UK) Ltd, which is a part of Cox & Kings Ltd. Cox & Kings Ltd is listed on the National Stock Exchange, the BSE Ltd and also on the Luxembourg Stock Exchange.
 
MEININGER is a unique hotel product that combines the service and comfort of an international budget hotel with extra facilities, such as a guest kitchen and a games zone. The central location, high quality furnishings and fair prices appeal to people of all ages and backgrounds. With the right dose of MEININGER humour and an enthusiastic team, MEININGER hotels with their guests from all over the world become a real home away from home.
 
The bedrooms range from traditional double rooms through private rooms with multiple beds right down to a bed in a dorm room. The hotels are tailored and adapted to the specific location and the market served by the hotel. The unique and flexible design of each hotel makes it possible to appeal to various target groups alike, such as school groups, families, individual travellers and corporate guests.
 
MEININGER currently operates 16 low budget hotels in Europe, with a total of 7,025 beds in 10 European cities (1x Amsterdam, 4 x in Berlin, 1 x Brussels, 2 x Frankfurt/Main, 1 x Hamburg, 1 x Cologne, 1 x London, 1 x Munich, 1 x Salzburg, 3 x Vienna). Contracts for 11 new hotels, with a total of 6,917 beds, in Barcelona, Budapest, Munich, Amsterdam, Rome, Paris, 2x Berlin, Leipzig, Heidelberg and now also Milan, have already been signed.  

In the ‘TREUGAST Investment Ranking 2016’, the MEININGER Group achieved an AA rating. The group is headquartered in Berlin.
 

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MEININGER Hotels and Hirotani Projektgesellschaft mbH have signed a contract for a new hotel in Heidelberg. The hotel will be located at the Carl-Benz-street 4-6 close to the central station.
The opening of the first MEININGER hotel in Heidelberg is planned for the beginning of 2019 with a lease term of 20 years.

The new hotel will offer 336 beds in 100 rooms on 5 floors.

The old town and center is fast and easily accessible due to the walking friendly location close to central station and the excellent public transport connections. Within immediate proximity is the new district Bahnstadt with its numerous shopping possibilities.

Hannes Spanring, CEO of the MEININGER Group says: “We are very happy that we will open our new MEININGER hotel in such history-charged city. Especially with regard to the international meaning as university town is this location an outstanding addition not only to the MEININGER portfolio but as well for the entire Holidaybreak group.”

About MEININGER hotels

MEININGER is a subsidiary of Holidaybreak Ltd, a travel group specialising in educational and activity holidays. Holidaybreak Ltd is a subsidiary of Prometheon Holdings (UK) Ltd, which is a part of Cox & Kings Ltd. Cox & Kings Ltd is listed on the National Stock Exchange, the BSE Ltd and also on the Luxembourg Stock Exchange.
 
MEININGER is a unique hotel product that combines the service and comfort of an international budget hotel with extra facilities, such as a guest kitchen and a games zone. The central location, high quality furnishings and fair prices appeal to people of all ages and backgrounds. With the right dose of MEININGER humour and an enthusiastic team, MEININGER hotels with their guests from all over the world become a real home from home.
 
The bedrooms range from traditional double rooms through private rooms with multiple beds right down to a bed in a dorm room. The hotels are tailored and adapted to the specific location and the market served by the hotel. The unique and flexible design of each hotel makes it possible to appeal to various target groups alike, such as school groups, families, individual travellers and corporate guests.
 
MEININGER currently operates 16 low budget hotels in Europe, with a total of 7,025 beds in 10 European cities (1x Amsterdam, 4 x in Berlin, 1 x Brussels, 2 x Frankfurt/Main, 1 x Hamburg, 1 x Cologne, 1 x London, 1 x Munich, 1 x Salzburg, 3 x Vienna). Contracts for 10 new hotels, with a total of 6,426 beds, in Barcelona, Budapest, Munich, Amsterdam, Rome, Paris, 2x Berlin, Leipzig and now also Heidelberg, have already been signed.
 
The group is headquartered in Berlin.

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