Covivio Newsletter
Understanding tomorrow's city
- Find out all the Covivio news every month
- Discover our latest projects: offices, residential, hotels
- Decipher the city and its challenges with our Expert Views
Accor
The story between Accor and Covivio began in 2005, when Covivio acquired 128 hotels from the global operator. Since then, our partnership has grown stronger and evolved continuously, punctuated by a number of major moves (acquisitions, disposals, investment partnerships, rebranding, asset management, etc.) carried out with a view to creating value.
Accor, an international group
Founded in 1967, Accor is now present in more than 110 countries with nearly 5,500 hotels and deploys one of the most diversified ecosystems in the sector, with more than 40 hotel brands, such as Ibis, Novotel, Mercure… ranging from economy to luxury, including lifestyle.
With 260,000 employees working under the Accor banner around the world, the group offers its customers and partners the know-how and expertise it has acquired over almost 45 years.
Covivio & Accor: a historic long-term partnership
Spotlight on the Covivio/AccorInvest consolidation deal
In November 2023, Covivio announced that it had entered into exclusive negotiations with AccorInvest to combine the ownership of jointly-owned hotel properties and goodwill. The merger took the form of an exchange of business assets held by AccorInvest for hotel properties owned by Covivio Hotels, a Covivio subsidiary.
The transaction enabled Covivio Hotels and its partners to take over businesses located in highly attractive tourist areas with the potential to create significant value through repositioning and management optimisation.
Of the 43 hotels involved, 14 will be managed directly by Covivio’s hotel operations platform, WiZiU.
In order to accelerate the planned repositioning plan, Covivio will also be working with 2 other players: Atypio and Sohoma, which will operate 12 and 10 establishments respectively, via management contracts. Five hotels will continue to be operated by Accor.
Covivio currently owns 78 hotels under Accor brands in France, Germany and Belgium, representing 22% of its portfolio.
Today marks another significant step in the development of our partnership with AccorInvest. The signing of this agreement contributes to Covivio’s development in the hotel sector and gives us the opportunity to mobilise all our real estate and hotel expertise. By repositioning a large part of the portfolio, we intend to strengthen our ability to act directly on the performance of the portfolio, and thus benefit from significant growth potential.
Tugdual Millet
CEO hotels, Covivio
Our latest renovations
Novotel Brugge Centrum
The hotel has been completely renovated in line with the Novotel concept, designed by the RF Studio design agency. The aim of this transformation of Novotel Brugge Centrum is to reposition the hotel as the new flagship of the Novotel brand, offering an upmarket upgrade from 3 to 4*. The works have optimised the communal areas (swimming pool, fitness area, green spaces, etc.) as well as the events areas and the creation of a new F&B concept in partnership with Paris Society. Each element has been designed with a specific customer experience in mind.
Ibis Brugge Centrum
The Ibis Standard is being transformed to offer an even better quality experience. A move upmarket towards the Ibis Styles concept is underway, with a complete renovation of the 128 existing rooms and the creation of 12 new rooms in the communal areas. The terrace area, which links the two hotels, will also be completely refurbished to make it even more convivial.
Both renovations are being carried out with the ambition of improving the carbon footprint of both hotels, embracing sustainability through design.
Coming soon…
Covivio plans to launch around ten renovation programmes from 2025, including the Ibis Montmartre, the Mercure hotels in Boulogne, Nice and Lyon, and the Novotel Sèvres, capitalising on the recent repositioning of the Novotel in Bruges. The entire repositioning plan and related works represent an investment of €100M.
Want to know more?
Would you like to talk to our teams? Looking for support with your project?
