Tours and travel firm Cox & Kings arm Meininger Hotels has inked a pact to open a 114-room hotel in Rome.
Cox & Kings owned Meininger Hotels will open a hotel in Rome. The first Meininger hotel in Italy that will have 114- rooms and 394 beds is expected to open in early 2017, Cox & Kings said in a statement.
Meininger has signed a 20-year lease with the owner of an existing building, which was formerly a medical centre. The building will be converted into a hotel over the next 18 months according to its specifications, it added.
The company however, did not provide the details of the agreement.
Cox & Kings Director Peter Kerkar said: "With the agreement we are entering a new and important market, being the 3rd most visited city in Europe. Italy and especially Rome has an enormous number of World Heritage Sites, which attract people from all over the world."
Meininger currently operates 16 hotels with a total of 7,025 beds in 10 European cities.
Meininger is a subsidiary of Holidaybreak Ltd which, in turn, is a of subsidiary of Prometheon Holdings (UK) Ltd -- a part of Cox & Kings Ltd.
Cox & Kings stock closed at Rs 267.75, down 3.41 per cent, on the BSE.
