Covivio: lets 31 hotels in France to B&B Hotels

(CercleFinance.com) - Covivio, through its subsidiary Covivio Hotels, has announced the signing of a memorandum of understanding with B&B Hotels for the takeover and sale-lease of 31 hotel operating properties located in France after their purchase from AccorInvest

These 31 hotels, representing a total of 2,565 rooms, already owned by Covivio and under the Accor Group brands (Ibis, Novotel and Mercure), were until now leased to AccorInvest under variable rent leases.


Following this agreement, Covivio and B&B Hotels, which have been partners since 2010, have committed to new 12-year fixed-rent leases. Covivio will benefit from a substantial rent increase and will participate in a works program conducted by B&B Hotels.



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