(AOF) – Covivio, through its subsidiary Covivio Hotels, has announced the signing of a memorandum of understanding with B&B Hotels for the resale-rental of 31 hotel businesses located in France after their acquisition from AccorInvest. These 31 hotels (2,565 rooms), already owned by Covivio and under the brands of the Accor group (Ibis, Novotel and Mercure), were until now let under variable-rent leases to AccorInvest. Following the signing of the protocol, Covivio and B&B Hotels have committed to new 12-year fixed-rent leases.
Covivio will benefit from a substantial increase in rent compared to 2019, and will participate in a work program carried out by B&B Hotels.
“While the hotel market is experiencing a rebound phase, Covivio is thus setting in motion part of its hotel portfolio by pursuing its dynamic asset and brand management strategy, in order to optimize its profitability and guarantee a hotel industry always more adapted to the expectations of users”, explained the real estate group.
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