Covivio has just concluded an important asset & brand management operation with B&B Hotels for a portfolio of 31 hotels in France.
The 31 hotels (2,565 rooms), already owned by Covivio and which were managed under Accor’s brands (Ibis, Novotel and Mercure) with variable rent leases.
Now, Covivio and B&B Hotels have signed new fixed-rent leases for a period of 12 years. Covivio will therefore benefit from a substantial increase in rents compared to 2019 and will participate in the capex plan that will be implemented by B&B Hotels.
Covivio’s hotel portfolio today almost includes 350 hotels (worth 6.6 billion euros) located in the heart of major European cities including, of course, also Italy (Rome, Milan, Florence, Venice).