Foncière des Régions, through its subsidiary Foncière des Murs, and Meininger Hotels 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 Foncière des Régions and Meininger, 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. This operation represents a total investment of €29.5 million for Foncière des Régions who acquires this property from the Alstria office REIT-AG.
The new hotel will feature 173 rooms and 820 beds on seven floors. 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.
Navneet Bali, CEO of the Meininger Hotels, says: "It's a great pleasure to sign a 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."
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