Follow Us On

Green Bond Issuance

Covivio Hotels, a subsidiary of the Paris-listed real estate operator Covivio, successfully issued a €500 million green bond, maturing in May 2033. Controlled by the Del Vecchio family’s Delfin, Covivio saw strong investor confidence, with subscriptions nearly quadrupling the offer. This demonstrates the quality of Covivio’s portfolio, 89% of which is located in major European cities.

Use of Proceeds

The proceeds will finance or refinance Covivio’s green hotel portfolio, in line with the company’s Green Financing Framework. The fixed rate of the issuance will largely be converted to a variable rate, leveraging the group’s strong hedging position (89% of debt covered by the end of 2023, with an average coverage duration of 5.6 years). This operation will strengthen Covivio Hotels’ balance sheet by extending its debt maturity.

Credit Rating and Financial Performance

On April 19, 2024, Standard & Poor’s confirmed Covivio Hotels’ BBB+ rating with stable outlooks. In 2023, Covivio showed strong performance in its hotel segment, with a RevPAR increase of 16% in Europe compared to 2019, primarily driven by a 23% rise in the average price.

Recent Acquisitions

In February, Covivio acquired 8.3% of Covivio Hotels from Generali. In return, Generali received new Covivio shares. This transaction, valued at €500 million in assets and a capital increase of approximately €300 million, means Covivio now holds a 52.2% majority stake in Covivio Hotels.

Related Posts

Category

Recent Articles

31 May 2019
Mestre district to overcome Venice’s limitedness for new rooms
12 June 2019
Robin Rossman, STR at ITHIC 2019
21 June 2019
Luca Dondi dall’Orologio, Nomisma at ITHIC 2019

Tag Cloud

rome Accor luxury pipeline development Milan expansion Venice Hotel Chains ithic Marriott Florence hilton B&B Hotels Mandarin Oriental BWH Roma Piazza Hotels & Residences Firenze Hines Blackstone Bayview Rosewood Oaktree Belmond LVMH Horwath HTL Luxury segment VOI hotels A&O IHG Group Riccione Castello SGR Namira SGR CDP Yellowsquare CapEx ESG Thermal Wellness Rocco Forte Mestre hostel PHR UnaHotels Russia Ennismore Wyndham Trentino Numa Adagio Aeroviaggi Mangia's STR Park Hyatt di Milano Lungarno Collection Hotel Bauer Napoli J Hotel Meeting & Congressi MICE hotel operation Hilton Hotels & Resorts Hotel brands Rosewood Castiglion Del Bosco Rome Termini Mercure Hotels The Yard Limestone Capital Reale Immobili HNH Hospitality Six Senses Sheraton Milano San Siro Hotel Hotel Milano Monza Union Investment Hotel Le Conchiglie pygmalion capital Deutsche Hospitality Steigenberger Icons Anglo American Hotel Borgo del Forte Campus Ventimiglia Marina Azora Swiss group Arenas Travelodge Icade Healthcare Europe Canopy by Hilton Federici Costruzioni Group Four Points by Sheraton Reuben Brothers Corinthia Hotels Italian Hospitality Collection Salsomaggiore Thermae Green Park Hotel Torre SGR Star Gestioni Hotel M89 Fabio Coppola Marco Coppola Sharon Grob The Hoxton Tétris letto budget bed intervention sostituzione materassi ristrutturazione rebranding w Tony Capuano Campasso di Nervia new development Ventimiglia BDF Real Estate Ferrovie dello stato FS luxury apartments conversion Bizzi & Partners Bordighera Hotel Angst REPE I Real Estate Parters Europe II REPE II KKR Francesco Muntoni Salvatore Peru Sustainability Loan Intesa Sanpaolo Delphina H&R Sardinia Governance Social Environmental Marco Muntoni Castello Odero Gino Coppedè Punta Caiega Portofino Villa Beatrice Splendido Mare Splendido Blue Noble investment company Scalo Porta Romana Via Col Moschin Via Giovenale residence Aparto Milan Ripamonti Aparto Milan Giovenale student housing Aparto Federterme Hospitality Day Confindustria Health Tourism in Italy Federteme Confindustria Health Tourism Meeting Generali Real Eatate The Student Hotel Langhe Cherasco La Tenuta di Petriolo Borgosesia Dolce Vita Arsenale Meininger Varese instability Ukrainian Crisis Ukraine 25Hours Mordashov sanctions TUI LHW Milano Baglioni Hotel San Gallo Palace Allegroitalia Tryp Meliá Frankfurt LyvInn Blantyre Capital Cima Rosetta Hotel Garibaldi Hotels Sicily StayOne Private villas Tapestry Collection La Gemma novotel dual branded hotel Calabria Alpitour Blu Hotels Ponte di Legno Blu Hotel Acquaseria
Mail
Phone
Book your stay
tickets