European REIT forms €400m hotel JV
Hotel group Meininger has formed a €400 million ($492.47 million) partnership with Foncière des Murs, a subsidiary of Foncière des Régions, a REIT and European leader in the hotel real estate market.
During the next four years the joint venture will deploy €400 million into European hotels. Meininger will operate these hotels under its brand in a lease structure. Meininger will also provide other services appropriate to its brand.
Foncière des Régions has been active in the European hotel sector. It has had partnerships with Accor, B&B Hôtels, NH Hotels and Louvre Hotels Group. With the new partnership, Foncière des Régions aims to increase its European footprint.