Covivio Expands Hotel Portfolio with Tenerife Acquisition

Covivio SA (FR:COV) has released an update.

Covivio has expanded its presence in the hotel sector by acquiring the 4-star Iberostar Las Dalias hotel in Tenerife for €81 million. The strategic investment aligns with Covivio’s goal to strengthen its foothold in Southern Europe’s leisure market, marking its first hotel property acquisition since 2020. The hotel, leased to Iberostar until 2041, underscores Covivio’s commitment to sustainable and profitable hospitality ventures.

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