Meininger Hotels starts building HUF 5.5 bln unit in Budapest

Hotels

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Meininger Hotels has laid the cornerstone of a HUF 5.5 billion, 184-room unit in Budapest, the company told Hungarian news agency MTI. The hotel, near the capitalʼs Great Market Hall, will open in Q2 2018.

Hungarian-owned Bedori Investment is partnering with Meininger Hotels in the project. Raiffeisen Bank is providing financing, in addition to funding from private capital. Meininger Hotels will lease the hotel for 20 years after its completion.

Cox and Kings, which is listed on the U.K. and Luxembourg bourses, own Meininger Hotels. It targets younger guests on a budget.

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