Covivio has announced that it has entered into exclusive negotiations with AccorInvest, with a view to exchanging the business assets held by AccorInvest for hotel walls belonging to Covivio Hotels, as well as transactions involving hotels held in joint ventures.

In all, this vast reorganization will result in a value of the hotel walls sold of 390 million euros, identical to that of the business assets taken over. Covivio Hotels and its partners will have consolidated 43 hotels, and AccorInvest 16 hotels.

The transaction will be subject to information and consultation with the social and economic committees, and to certain conditions precedent, as well as to the performance of the usual due diligences. It is expected to be finalized in the second half of 2024.

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