Cox & Kings will open MENINGER hotel in Leipzig city

Cox & Kings owned MENINGER hotels will open in close proximity to Leipzig’s main station at the beginning of calendar 2017. The former ibis hotel from the Accor Group will be converted in accordance with MENINGER standards and will ultimately have 404 beds available in 126 rooms. The hotel is located in the centre of Leipzig and is the perfect starting point from which to explore the city.

According to company’s management Leipzig will strengthen its portfolio of hotels in Germany where it has presence in five other cities. The proximity of the hotel will attract a sizeable chunk of clientele.

On financial front, Cox & Kings’ revenue has declined by 8.45 per cent to Rs 2352 crore in FY16 as compared to previous fiscal. The company’s EBITDA too has reduced by 14.12 per cent to Rs 867 crore in FY16 on a yearly basis. Its net profit has dropped by 41.23 per cent to Rs 53.94 crore in FY16 as compared to previous financial year.

The share price of Cox & Kings has increased by 1.62 per cent on bourses in early trades; and is trading at Rs 171.25 on an intraday basis.

Cox & Kings is a travel company engaged in tours and travel activities. The company is engaged in providing various services, such as destination management, outbound tourism, business travel, incentive and conference solutions, domestic holidays, non-resident Indian (NRI), trade fairs, foreign exchange and insurance. It operates a range of group and individual tours to destinations throughout the Indian subcontinent for clients from all over the world.