Covivio Completes Hotel Consolidation Deal with AccorInvest

On December 2, 2024, Covivio finalized a consolidation agreement with AccorInvest, empowering Covivio with full ownership of 43 hotels across France, Belgium, and Germany while transferring 16 hotel properties to AccorInvest. This transaction, valued at nearly €800 million, marks the end of a process that began in late 2023.

Through Covivio Hotels, Covivio shifts from solely being a property investor to become a comprehensive asset manager and hotel operator. The completed deal positions Covivio in areas with significant potential for value creation and strengthens its hotel presence in tourist-heavy regions. Covivio plans to undertake renovation projects amounting to €100 million from 2025.

The reorganization sees 14 hotels managed by Covivio's platform WiZiU, with others operated under contracts with Atypio or Sohoma, while five remain under Accor. Two German hotels will come under a new lease with B&B Hotels.