Cox & Kings, the 261-year-old travel company has entered into a strategic tie-up with RCI, the global leader in vacation exchange and part of the Wyndham Destinations, to facilitate ancillary travel services for their India membership base. The tie-up will provide RCI members with all facilities under one roof while on a RCI holiday; be it visa processing, air tickets or transfers. The concept of vacation ownership is fast gaining ground in India with increasing number of vacationers finding timeshare more appealing and cost-effective.

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Cox & Kings owned MEININGER Hotels signed a contractwith a German property developer for a new project in Stuttgart. From 2021onwards, the hotel group will be present in the state capital of Baden-Wuerttemberg. The new hotel building will have 156 rooms and 460 beds.

The contract signing seals the second project for MEININGER Hotels in the Germanfederal state of Baden-Wuerttemberg. The planned new building in a centralStuttgart location covers a gross floor area of 6,900 sqm on four floors. In addition to156 rooms or 460 beds, the accommodation will also have 20 parking spaces. Thehotel is scheduled to open in fall 2021.

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Net profit of Cox & Kings declined 69.61% to Rs 28.91 crore in the quarter ended December 2018 as against Rs 95.13 crore during the previous quarter ended December 2017. Sales rose 15.82% to Rs 1298.91 crore in the quarter ended December 2018 as against Rs 1121.46 crore during the previous quarter ended December 2017.

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Cox & Kings will hold a meeting of the Board of Directors of the Company on 14 February 2019.

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