Cox & Kings: MEININGER group to open hotel in Cologne

Cox & Kings owned MEININGER Hotels has signed an agreement to open a new hotel in Cologne. The hotel will open in 2022. The new hotel comprises a gross floor area of more than 7,900 sq.m. with more than 200 rooms.

MEININGER currently operates 12 hotels in Germany and plans to open 4 new hotels in the German market by 2022. As of now, based on contract signing, over the next three years, the hotel group expects an international increase of more than 2,300 rooms and 8,000 beds. In the same period, the total number of beds in Germany will rise to more than 9,000.

Cologne is witnessing increased number of visitors offlate due to MICE. The city has been a historically important destinations and covered under culture and leisure segments over the years. Till date, MEININGER group has been successfully serving the needs of diverse target groups at the same time.

The property has an unusual ‘hybrid concept’ that combines the advantages of a hotel and hostel. The benefits include a very flexible room structure, from a double room to a private multiple bedroom to a bed in a dormitory, ensuite bathrooms, a spacious shared kitchen where guests can cook on their own, a game zone with football table or pool table and free Wi-Fi.

In the last fiscal, 90 per cent room occupancy was recorded across all hotels of the group. The management of MEININGER group plans to expand with 16 new hotel projects.

On Thursday, the stock of Cox & Kings opened at Rs. 94.50 per share. It was up by 2.1 per cent at Rs. 96.30 from its previous close of Rs. 94.30.