Covivio Shifts to Hybrid Model, Targets Hotel Expansion in Southern Europe with Focus on Spain and Italy
🏨 Covivio aims for a balanced asset portfolio of one-third each in offices, residential, and hotels. CEO Tugdual Millet emphasizes a shift from the owner-landlord model to a hybrid with operational involvement, maintaining over 50% of the portfolio in long-term leases. The company targets growth in Spain and Italy, with active asset management and office-to-hotel conversions. Investments from 2015 to 2019 focused heavily on Germany, now shifting to Southern Europe.
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