Covivio Hotels Reports 4.7% Revenue Increase by End-September 2026

At the close of September 2026, Covivio Hotels announced a 4.7% rise in hotel revenue, attributed to recent acquisitions in Milan and Spain. On a like-for-like basis, revenue increased by 2.0%. Fixed rents saw a modest 1.6% growth, indicating limited impact from indexation, though this is expected to grow from 2027.

Variable revenues, representing 45% of total hotel earnings, rose by 2.4% like-for-like. Strong performances were noted in Spain and the UK, with revenues up 21% and 11% respectively. German revenues grew by 5.8% like-for-like, though Belgium underperformed due to a VAT rise.

Covivio Hotels also made strategic moves, transitioning its German portfolio to Radisson Hotel Group and Odyssey Hotel Group. This shift aims to enhance operational efficiency, with expected annual savings of €3 million, boosting EBITDA by 8%.