As a leading investor in hotel properties in Europe, Covivio continually regenerates its portfolio and contribute to renewal the customer experience with lifestyle products. With a hotel portfolio now worth some €5.8 Bn, i.e. almost 400 hotels in Europe, Covivio continues to develop new partnerships and announces the signing of a deal with the lifestyle brand Room Mate.
Room Mate has developed a hotel concept with a differentiated positioning, in the mid-market/upmarket urban segment: each hotel features a unique modern design with extra special care going to the guest experience by way of high-quality innovative services (higher-than-average room size for this segment, later check-out, breakfast service until noon, top quality bed linen…). The hotel chain today boasts 25 hotels worldwide and high levels of recognition thanks, in particular, to the social networks.
Covivio has just signed a deal with Room Mate for the development of a 4-star hotel in Malaga with 169 guest rooms. Situated in the Spanish resort’s historic centre, the hotel enjoys a prime location in one of Spain’s most exciting markets. The two partners have signed a rental deal for a 20-year double net lease, of which 10 years firm. Delivery is scheduled for mid-2021.
International tourism today is having to adjust to an up-and-coming base of younger customers, who are more connected and looking for the real-deal tourist experience. In the face of these new challenges, the hotel trade is changing to make way for new so-called “lifestyle” concepts: multi-service, outward-looking and more user-friendly.
One of the features of these new-style hotels is the lobby, now serving a whole new purpose as a living space at the centre of the hotel. It now features a bar, a restaurant and relaxation areas. This means that the common areas are rearranged as open space, inviting guests to spend more time there than in their rooms. The Food & Beverage service is more extensive and attracts additional custom from outside. This, then, is how we define lifestyle hotels: a user-friendly concept with a distinct “home away from home” feel.
Being totally connected, these hotels have taken the full customer experience into the digital age: cashless establishments, touch-screen tablets managing guest room facilities, all-digital front desks.
Last but not least, their popularity rating is higher than that of traditional hotels, with guests always keen to share their feedback on the social networks.
A hotel portfolio with innovative diversified concepts: an overview of the Covivio’s lifestyle partners
In May 2018, Covivio acquired an iconic portfolio of 12 hotels in major cities across the United Kingdom and followed this up with long-term leases signed with the InterContinental Hotels Group to run the operational side. The operator chose to roll out its new design and lifestyle label, Kimpton, with one of the hotels located in London andalso with other properties in Glasgow, Edinburgh and Manchester.
Sporting a boutique-hotel concept, the Kimpton Fitzroy London clearly stands out with its facilities and slick high-end design mirroring the city of London’s historic heritage. The hotel has retained its history and cachet whilst adapting to the modern codes of today’s hotel trade.
The Kimpton brand is different in the services available to guests (yoga mats in each room, wine-tasting, bicycles provided to explore the city) but also in the extensive wining and dining facilities within one and the same hotel: 5 bars-restaurants spaces with a wide range of specialities (seafood, cocktail bar, tea room, coffee shop and a reception room for private functions).
In September 2018, Covivio and VINCI Immobilier opened the first Motel One hotel in the city’s 12th district.
Germany’s number one chain of design hotels, Motel One offers guests an upmarket experience at attractive rates (€79 per night over 300 days of the year). Motel One is located in Europe’s most exciting cities and runs a network of 65 hotels with over 18,000 rooms. Clearly mindful of the urban environment of all its locations, hotels are always situated in lively parts of town with easy access.
The Motel One Paris-Porte Dorée, an establishment with 255 rooms, is styled and inspired by the neighbouring Bois de Vincennes with animal and plant-life motifs. For its first Parisian hotel, the chain invited a number of French artists to create illustrations in Art Deco style.
2019 will be a key phase in the partnership between Covivio and Meininger signed in 2014, marked by the opening of 3 hotels in Paris, Lyon and Munich, further to the Milan opening in August 2018.
The Meininger concept is uniquely different as a hybrid hotel product that combines the service and comfort of a budget hotel, with international standards and original services such as a community kitchen and play areas. Its flexibility is also unprecedented: standard double rooms, private rooms with several beds, dormitories… Meininger effectively reaches out to different types of guest, from school groups to backpackers, families and business travellers.
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Thanks to its partnering history, its real estate expertise and its European culture, Covivio is inventing today’s user experience and designing tomorrow’s city.
A preferred real estate player at the European level, Covivio is close to its end users, capturing their aspirations, combining work, travel, living, and co-inventing vibrant spaces.
A benchmark in the European real estate market with €23Bn in assets, Covivio offers support to companies, hotel brands and regions in their pursuit of attractiveness, transformation and responsible performance.
Its living, dynamic approach opens up exciting project and career prospects for its teams.
Covivio’s shares are listed in the Euronext Paris A compartment (FR0000064578 – COV) and the MTA market (Mercato Telematico Azionario) on the Milan stock exchange, are admitted to trading on the SRD and are included in the composition of the MSCI, SBF120, Euronext IEIF “SIIC France” and CAC Mid100 indices, in the “EPRA” and “GPR 250” benchmark European real estate indices, EPRA BPRs Gold Awards (financial + sustainability), CDP (A), Green Star GRESB, and in the ESG FTSE4 Good, DJSI World & Europe, Euronext Vigeo (World 120, Eurozone 120, Europe 120 and France 20), Euronext® CDP Environment France EW Oekom, Ethibel and Gaïa ethical indices.
Covivio is rated BBB/Positive outlook by Standard and Poor’s.