Cox & Kings - owned Meininger Hotels has transferred the operating lease on its Cologne City Center hotel with immediate effect. RHK Living GmbH will be the new sole operator of the property under the brand name SMARTY Cologne City Center Hotel/Hostel/Boardinghouse.
Meininger Cologne City Centre hotel operated 172 beds. The property contributed about 1.4 million euro in gross revenues and about 0.15 million euro of EBITDA per annum. Cologne remains an important potential location for Meininger. The Meininger group is in the process of identifying several potential opportunities to expand in the city.
Cox and Kings is engaged in providing travel management solutions. Its services include destination management, outbound tourism, business travel, insurance and conference solutions. The firm also offers domestic holidays, trade fairs, foreign exchange and insurance.
