(Reuters) – The French land management company Covivio announced on Friday the signing of a memorandum of understanding with AccorInvest, the real estate arm of the Accor group, for the exchange of real estate.
Covivio Hotels must acquire 24 businesses from AccorInvest, for a total value of 266 million euros, in return for the sale of 10 hotels, representing 208 million euros, Covivio announced in a press release.
The operation should be finalized in the last quarter of 2024, the group added.
(Written by Alban Kacher, edited by Blandine Hénault)
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