Covivio & Room Mate a new partnership

2 min reading time

Published on 02/04/19 - Updated on 17/03/22

The Spanish brand founded 13 years ago by Kike Sarasola, partnered with the French investor to develop a new property in Malaga's historic center.

A new partner, Room Mate

169 rooms in the Spanish resort destination. Covivio strengthens its lifestyle brand portfolio by choosing a new partner as Dominique Ozanne announced in an interview with Hospitality ON.The two partners have signed a rental agreement for a 20-year double net lease, of which 10 years firm.

Room Mate aims for strong growth with a 25 property portfolio worldwide and a will to develop strongly within the next few years opening 15 new properties by 2020. Covivio may be an investor for some of them.

This month, the Spanish brand inaugurates its first property in Paris, Room Mate Alain.

A will to give more value to its assets for Covivio

Covivio choses its partners carefully and does not hesitate to sell less valuable assets to improve the value of its asset portfolio. This strategy is evident in its previous partnerships with IHG to develop Kimpton Brand or Motel One for the brand's first property in Paris. A strategic choice to increase revenues in its assets with brands turned toward the future. Kimpton Fitzroy London or Meininger Paris, Lyon and Munich are other examples that illustrate the will to seek valuable partners.

To learn more about this strategy, come and listen to Willemijn Geels from IHG and Gwenaëlle Pouy from Covivio at the 24th Global Lodging Forum. April 15 and 16. There is still some time left to register. See program HERE.



Investor / Finance

  • Covivio France
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