Covivio Hotels SCA

COVH

Equity

ISIN FR0000060303 / Valor 498268

Euronext - Euronext Paris (2026-07-30)

EUR 22.90+0.44%

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

Headline financials

Group‑share net income: €308m in FY2025 (up from €225m in 2024). Recurring EPRA Earnings: €273.0m (+5.8% y/y). EPRA Earnings per share: €1.77 (up ~1.5% when accounting for dividend‑in‑shares option).

Revenues and profitability

Total hotel revenues (Group share) ≈ €345.8m, up +1.9% like‑for‑like. EBITDA margin improved to 28.3% (up ~2 points), driven by operational performance and asset management on operating properties.

Portfolio value and yields

Portfolio (Group share) valued at €5,974m at 31/12/2025 (€6,593m at 100%), +3.7% like‑for‑like. Average yield excluding duties ~6.2% (6.1% on leased assets; 6.4% on operating properties). Growth concentrated in France and Southern Europe.

Balance sheet and liquidity

Net debt (Group share) reduced to €1,850m (down €269m y/y) with average cost of debt ~2.20%. LTV 28.4% (improved), interest coverage ratio ~8x and net debt/EBITDA ~5.8x. Liquidity including undrawn lines ~€733m. S&P confirmed BBB+ (stable).

Shareholder returns

EPRA NTA €4,235m (+11% y/y) or €26.8/share. Company will propose a cash dividend of €1.50 per share for 2025, unchanged from 2024 (payout c.85%).

Asset management, capital expenditure and dispositions

Operational activity: delivery of two B&B hotels (Porto €17m; near Brussels €28m), reopening/renovation of The Met (Leeds) after €13m refurbishment, and €69m work committed in 2025. Four additional renovation projects represent €48m of works (100%) — €30m Group share — and wider planned CapEx ~€250m (Group share ~€164m) targeting ~€33m additional EBITDA and material value creation. Disposals: €65m Group share committed at prices in line with end‑2024 appraisals.

Notable commercial/strategic items and outlook

Signed a 12‑year lease with Radisson at Roissy CDG (305 rooms) converting a managed asset to leased and expecting >50% revenue improvement at that hotel vs. 2024. Market backdrop: European RevPAR +1.7% in 2025 (Spain +4.2%, Italy +3.8%, France +1.4%, Germany -1.2%). Management intends to accelerate growth in Southern Europe and continue repositionings into 2026.

Summarized from source with an LLMView Source

Key figures

-3.78%1Y

30.5%3Y

40.5%5Y

Performance

24.6%1Y

22.4%3Y

22.5%5Y

Volatility