Covivio Hotels SCA

COVH

Equity

ISIN FR0000060303 / Valor 498268

Euronext - Euronext Paris (2025-11-21)

EUR 24.20-0.82%

Covivio Hotels SCA
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About company

Covivio Hotels SCA, a subsidiary of Covivio, is a prominent real estate entity specializing in the hotel sector across Europe. With a portfolio comprising 283 hotels in 12 countries valued at €6.4 billion as of the end of 2024, the company collaborates with major hotel operators such as AccorInvest, IHG, NH Hotel Group, and Radisson Hotel Group. Covivio Hotels supports these operators through property leasing, operating, and development projects, focusing on dynamic urban locations. The company manages its hotel assets primarily through leaseholds and direct operations, with leased hotels constituting 62% of its portfolio. Covivio's hotel management platform, WiZiU, operates hotels in France and Belgium, either directly or through franchise agreements with renowned brands like Accor, Hilton, IHG, and Marriott. The management approach emphasizes tailoring hotel experiences to the unique characteristics of each location, offering customized services such as local cooking classes or guided city tours to enhance guest experiences.

Summarized from source with an LLMView SourceSector: Finance

Revenue Growth

In the first half of 2024, Covivio Hotels achieved a 5.2% increase in revenue on a like-for-like basis, reaching €153.7 million compared to €150.1 million in H1 2023. This growth was driven by higher occupancy rates and average room prices across its European portfolio.

Strategic Partnership with AccorInvest

In June 2024, Covivio Hotels signed a memorandum of understanding with AccorInvest to consolidate ownership of jointly held hotel operating and property companies. This strategic move is expected to close in the final quarter of 2024, enhancing Covivio’s ability to reposition its portfolio and optimize management practices.

New Disposal Commitments

The company secured new disposal commitments totaling €77 million during the first half of 2024. These commitments include the sale of four hotels in Germany, one in Spain, and thirteen assets in France, reflecting strong investor interest and an 11% margin over end-2023 appraisal values.

Portfolio Value and Yield

As of June 30, 2024, Covivio Hotels’ portfolio experienced a slight increase in like-for-like values by 0.5%, reaching €5,821 million. The portfolio maintains a robust average yield of 6.0% excluding transfer duties, supported by high-quality locations and long-term leases with major hotel operators.

Summarized from source with an LLMView Source

Key figures

30.8%1Y

57.7%3Y

66.7%5Y

Performance

24.7%1Y

21.5%3Y

24.2%5Y

Volatility