MEININGER Hotels, Owned by Cox & Kings Ltd and Foncière Des Régions Agree a Strategic Investment Partnership to Support the MEININGER Brand Expansion Across the Leading Cities in Europe

Cox & Kings owned MEININGER Holding GmbH ("MEININGER") and Foncire des Rgions, through its subsidiary Foncire des Murs, announced today that they have formed a commercial partnership in respect of the sourcing by MEININGER and acquisition by Foncire des Rgions of hotel property investment opportunities primarily in European gateway cities, to be leased to and managed by MEININGER under the "MEININGER" brand.

Primary cities targeted include Amsterdam, Barcelona, Brussels, Berlin, Geneva, Hamburg, Frankfurt, London, Madrid, Milan, Munich, Paris, Rome, Vienna and Zurich. In addition other cities in both Western and Eastern Europe where the MEININGER brand is likely to be popular are also planned for expansion.

MEININGER will operate these hotels under its brand in a lease structure. MEININGER will also provide other services appropriate to its brand. Over the next 4 years, this strategic agreement could translate into up to 400 million€ total hotel investments, subject to approval by both parties on an hotel by hotel basis, through triple net long-term leases.

Foncire des Rgions, European leader of the Hotel real estate market, already has successful relationships with leading operators in this sector, including with Accor, B&B Htels, NH Hotels and Louvre Hotels Group. Foncire des Rgions' strategy is to strengthen its presence in the hotel sector throughout Europe and expects the partnership with MEININGER to accelerate its European footprint while creating a long- term relationship with an operator with a proven track record and meaningful development potential.

As Navneet Bali, CEO at MEININGER Hotels, explains, "MEININGER is a unique hybrid hotel product. The partnership with Foncire des Rgions is an important step for our expansion in Europe. MEININGER's aim is to operate an "urban travellers home" in every major European city. The collaboration with Foncire des Rgions is an exciting step in this direction."

Dominique Ozanne, CEO Hotels & Service-sector for Foncire des Rgions adds the following: "the European leader in hotel property, Foncire des Rgions today begins a new partnership with an innovative operator, marked by ambitious growth prospects. With an unprecedented concept in Europe, intended for a large customer base including backpackers and business tourists alike, Meininger is one of the most dynamic brands in the industry and a partner of choice to strengthen our development in Europe."

Founded in 1999 MEININGER currently operates 7089 beds and 2093 rooms in 16 hotels in 10 European Cities. The unique hybrid concept of MEININGER is based upon combining the service and comfort of a hotel with the uncomplicated nature of a hostel: top locations, high-quality amenities, flexible room structure and reasonable prices. MEININGER is ideally positioned to accommodate business travellers, individual guests, families, school trips & tour groups

For more information, contact:

MEININGER

MEININGER Hotels

Anja Kuehnel

[email protected]

Tel : + 0049 (0)30 666 36 170

COX & KINGS LTD

Thomas C Thottathil

Tel : +91-22-22709100