Frankfurt, February 19th 2008 -- Vivico has now concluded an agreement for a low budget hotel with the Berlin-based hotel group Meininger. The new hotel will be erected on the Boulevard in the Europaviertel in the immediate vicinity of the Torhaus trade fair entrance. It will expand the existing and planned offering in Frankfurt's growing urban quarter by a further hotel for international business travellers and young travellers. It is the first hotel operated by the group in Frankfurt. The architect's design was drawn up by the internationally renowned office nps tchoban voss, Hamburg.
Günther Kühnlein, Head of Vivico Frankfurt: "Hotels rapidly create international flair and are ensuring that new life is being breathed into Frankfurt's most important development area. The Europaviertel is an excellent example of the kind of attraction dynamic urban development can have for investors. The desire to be part of the Europaviertel is considerable. A project like the Europaviertel always also requires the courage of all those involved to take forward-looking decisions, to enable this major urban development project to continue growing and to provide Frankfurt with stimuli."
Sascha Gechter, Managing Partner of the Meininger Group: "Our hotels are always central and create social interfaces for our international guests. We are confident that we have found the ideal environment for our concept with the Europaviertel. The Frankfurt hotel marks the continuation of our expansion in Europe."
Vivico plans to hand over the turnkey hotel to the Meininger Group in 2010. The hotel boasts a gross floor space of 4,819 sqm on eight floors and encompasses 162 rooms. The lease agreement has a term of 20 years.