Hospitality: Covivio continues its expansion in Southern Europe

Destination Porto: a new location for MEININGER in Europe

Covivio is acquiring a 3* MEININGER hotel in Porto, which will offer 228 rooms (a total of 834 beds) over an area of approximately 9,150 m². The construction of the hotel, acquired from Eiffage Immobilier Portugal, a leading property developer, will begin in the first quarter of 2026. The sale will be effective at the opening of the hotel, scheduled for the second half of 2028.

An Agreement for Lease, effective upon delivery has also been signed with MEININGER, who will operate the hotel under a 20-year fixed lease.

Located in the heart of the creative “Bonfim” district, the hotel will benefit from a rapidly changing environment. The arrival of new hotels and the conversion of a former shopping centre into contemporary offices are helping to breathe new life into the neighbourhood. The hotel is perfectly connected, just a stone’s throw from the brand new “Campanhã” multimodal terminal, a central hub connecting trains, metro, buses and the future high-speed train, providing easy access to the airport. It is a strategic location, ideal for the chain’s clientele — young travellers, families and groups — looking for a convenient, urban and connected stay.

The project is part of an ambitious ESG approach and is aiming for BREEAM Very Good and LCBI Standard certifications. The building will also be aligned with the European taxonomy (based on December 2024).

This transaction follows the acquisition in July 2025 of the 3* B&B Porto Centro Massarelos hotel – also developed with Eiffage – and demonstrates Covivio’s ability to support the long-term development of its hotel partners. Launched in 2014, the partnership between Covivio and MEININGER will, upon delivery of this hotel, comprise four establishments located in Paris, Lyon, Porto and Munich.

Portugal, the fastest-growing destination in Southern Europe

Over the past 10 years, Portugal has seen a 70% increase in visitor numbers, making it the most dynamic destination in Europe thanks to the appeal and authenticity of its main cities and regions, such as Lisbon, Porto and the Algarve. Porto, whose historic centre is a UNESCO World Heritage Site, was voted “Europe’s Leading Seaside Metropolitan Destination” at the 2024 World Travel Awards. In 2024, the city recorded more than 6.4 million overnight stays, up 7% on 2023.