Foncière des Régions and Meininger Hotels have agreed to a strategic partnership to support Meininger’s brand expansion across major cities in Europe. The agreement could amount to €400 million (US$498 million) in the next four years.
Cities targeted for expansion include Amsterdam, Barcelona, Brussels, Berlin, Geneva, Hamburg, Frankfurt, London, Madrid, Milan, Munich, Paris, Rome, Vienna and Zurich. Meininger plans to operate these hotels under its brand with a lease structure.
Foncière des Régions currently has other partnerships with Accor, B&B Hôtels, NH Hotels and Louvre Hotels Group.
“The partnership with Foncière des Régions is an important step for our expansion in Europe,” said Navneet Bali, CEO of Berlin-based Meininger. “Meininger’s aim is to operate an urban traveler’s home in every major European city. The collaboration with Foncière des Régions is an exciting step in this direction.”
“Meininger is one of the most dynamic brands in the industry and a partner of choice to strengthen our development in Europe,” added Dominique Ozanne, CEO of Paris-based Foncière des Régions.