Austrian listed property company CA Immo said its Meininger Hotel Salzburg City Center will open its doors to the public on Wednesday after six months of revovation work.

The new budget hotel at Fürbergstrasse 18-20 has been handed over to the operator, the German Meininger Group, which has agreed to take a 20-year lease on the 101-room hotel. The three-star hotel is situated immediately in front of the Zentrum im Berg centre and connects directly to the shopping mall of the same name.

CA Immo is developing a second Meininger Hotel on Rembrandtstrasse, in Vienna, planned for completion in October 2011.

Founded in 1999, Meininger operates 11 hotels, three of which are located outside of Germany (in Vienna and London).

CA Immo develops and invests in commercial real estate with a focus on office properties in Austria, Germany and Central Eastern Europe. Its portfolio is valued at roughly EUR 5 bn.