on Covivio Hotels (EPA:COVH)
Covivio Hotels and AccorInvest Finalize €800M Consolidation Deal
Covivio Hotels has successfully completed a consolidation deal with AccorInvest, totaling an exchange value of nearly €800 million. This transaction sees Covivio Hotels acquiring full ownership of 43 hotels across France, Belgium, and Germany while selling 16 hotels in the same regions to AccorInvest.
With this operation, Covivio Hotels strengthens its role as an asset manager and hotel operator, shedding its former identity as just a property investor. The integration enables Covivio to enhance its hotel portfolio value by optimizing management and repositioning. In line with this, 14 hotels will be directly managed by Covivio's platform, WiZiU, while others will rely on management contracts with Atypio and Sohoma. Five properties will continue under Accor.
The agreement also highlights plans for significant renovations, including the Ibis Montmartre and Mercure hotels, representing a €100 million investment.
R. P.
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