Cox & Kings Owned Meininger Hotels And Foncière Des Régions Signed An Agreement For A New Hotel In Munich Near The Olympic Park
Cox & Kings owned 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.
Peter Kerkar, Director, Cox & Kings Ltd says : “It’s a great pleasure to sign our first 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.”