Cox & Kings Contemplates Sale of Meininger Hotels
Given Cox & Kings’ well-publicized financial struggles, offloading the Meininger hybrid hotel/hostel chain makes sense. There will likely be plenty of interested parties.
Cox & Kings Ltd., the Indian travel company, is exploring a potential sale of European hospitality chain Meininger Hotels as it seeks to cut debt, according to people with knowledge of the matter.
Cox & Kings Ltd., the Indian travel company, is exploring a potential sale of European hospitality chain Meininger Hotels as it seeks to cut debt, according to people with knowledge of the matter.
The company is working with Lazard Ltd. to gauge interest from potential suitors for Berlin-based Meininger, said the people, who asked not to be identified because the information is private.
Meininger operates 28 budget hotels in Germany and other parts of Europe, including recent openings in Brussels and Heidelberg, and has a pipeline of about 15 more locations. The business recorded about 111 million euros ($122 million) of revenue for the year through March 2019, one of the people said.