The MEININGER hotel at Rembrandtstrasse 21 has been completed and handed over to the hotel group. According to Dr. Bruno Ettenauer, Chief Executive Officer of CA Immo, “This development project will fill a vacant site in a typical residential district of Vienna. We are delighted with the very fast completion of the property.” Construction work started in January and the hotel was handed over to the MEININGER Group on schedule in September; the first guests were accommodated early in October.

MEININGER will lease the 131-room hotel for a period of 20 years. The budget hotel chain provides comfortable, service-oriented accommodation for price-conscious travellers. With their latest offering in Vienna, they will hope to attract a younger clientele in particular.

The hotel in Vienna's second municipal district is centrally located between the expanse of the Augarten park and the Danube canal; the underground stations of Schottenring and Rossauer Lände are a short walk away and district one (with its wealth of entertainment, cultural and culinary options) is also within easy reach.

In May of this year, CA Immo finished constructing another hotel in Salzburg. The Salzburg City Center hotel at Fürbergstrasse 18-20 was also handed over to MEININGER. CA Immo invested around € 16 m in the two properties.

 
About MEININGER
MEININGER is a budget hotel chain. Established in 1999, the company now has 13 properties, four of which are outside of Germany (in Vienna and London). Thanks to a strategy of central locations, good quality and low rates, MEININGER has succeeded in expanding rapidly, virtually doubling its turnover at least every two years over the last decade of operations. The company plans to maintain this strategy of expansion over the next five years. MEININGER received the European Hospitality Innovation Award at the end of 2009. With its AA rating in the Treugast Investment Ranking, MEININGER is marked out as a blue chip company. The group has head offices in Berlin.

A picture in high resolution you can download <link fileadmin bilder meininger_fertig_hr.jpg _self download>here.

About CA Immo
CA Immo was founded in 1987. The company develops and invests in commercial real estate (and in particular offices) in Austria, Germany and Eastern Europe. As of 30 June 2011, the company's total property assets amounted to some € 5.2 bn. CA Immo is listed on the Vienna Stock Exchange, with free float of around 83 % at the present time.

Please address any questions to:
CA Immobilien Anlagen AG
Mag. Julia Müller
Tel.: +43 1532 590 7581
Email: mueller@caimmoag.com
www.caimmoag.com