Covivio Hotels SCA (FR:COVH) has released an update.
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Covivio Hotels has completed a major consolidation deal with AccorInvest, gaining full ownership of 43 hotels across France, Belgium, and Germany, while transferring ownership of 16 hotels to AccorInvest. This strategic swap enhances Covivio’s hotel management capabilities and strengthens its presence in high-tourist areas, with plans to invest €100 million in renovations. Covivio’s transition from a property investor to an asset manager highlights its ability to extract value from its portfolio.
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