Covivio SA Expands Hotel Real Estate Footprint

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

Covivio SA has signed a memorandum of understanding with AccorInvest to consolidate their hotel assets, involving the acquisition and transfer of various hotel operating and property companies. The deal, valued at €393 million for properties exchanged, is geared towards growth in the hotel sector by optimizing management and repositioning portfolios for both entities. It signifies Covivio’s strategic shift towards a more diverse hotel real estate model and will finalize in the last quarter of 2024.

For further insights into FR:COV stock, check out TipRanks’ Stock Analysis page.