Covivio Hotels Reports Revenue Growth Boost by 7.1% at End-September 2024

Covivio Hotels announced a significant acceleration in its revenue growth, achieving a 7.1% increase on a like-for-like basis by the end of September 2024. This growth is primarily driven by strong performance in Southern Europe and a considerable rebound in Germany.

The hotel sector across Europe benefited from sustained tourism and a resurgence in business activities. RevPAR rose by 10% during July and August. Year-to-date, RevPAR has climbed 5% due to rising average prices and improved occupancy rates.

Covivio is on the verge of completing a major deal with AccorInvest, consolidating its operational platform under the WiZiU brand. This transformation aims to enhance operational flexibility and optimize hotel performance through strategic management and investment programs.