trending Market Intelligence /marketintelligence/en/news-insights/trending/z183eiohqr_nypuxtt__tg2 content esgSubNav
In This List

Covivio unit acquires 9 UK hotels from Starwood Capital for £671M


Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise


FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Covivio unit acquires 9 UK hotels from Starwood Capital for £671M

Covivio unit Covivio Hotels completed the acquisition of nine hotel properties with 1,698 rooms in the U.K. from Starwood Capital Group for £671 million.

The four- and five-star hotels are part of the unit's £858 million, 14-property portfolio transaction with Starwood. The remaining acquisitions will occur in the coming weeks, according to a company release.

Covivio Hotels signed long-term, triple-net leases at the nine properties with InterContinental Hotels Group PLC. InterContinental Hotels had previously expressed interest in acquiring the 2,638-room portfolio.

The French real estate investment trust will finance the entire portfolio transaction through a €300 million capital increase, €454 million of bank debt and €223 million in cash.