Signature of a strategic agreement between Covivio Hotels and AccorInvest

Covivio Hotels announced the signing of a memorandum of understanding with AccorInvest to reorganize the ownership of the premises and business of their joint hotels. The operation, planned for the last quarter of 2024, meets the conditions established during exclusive negotiations in November 2023.

This initiative will allow Covivio Hotels to acquire 24 businesses and transfer the properties of 10 other hotels to AccorInvest. The value of the properties sold amounts to 208 million euros, compared to 266 million euros for the purchased business assets.

The transaction is considered a crucial step in the development of Covivio Hotels, in particular through the acquisition of hotels located in attractive tourist areas and likely to generate strong value creation.