Covivio Hotels reports recurring net income (RNR or EPRA Earnings) of €119.5 million for the first six months of 2024, or €0.81 per share, up 6.6% year-on-year on the back of higher revenues.

The strength of the hotel market translated into a 5.2% increase in hotel revenues on a like-for-like basis, to 153.7 million euros, thanks to the performance of variable-income hotels and the indexation of fixed rents.

At the end of June 2024, Covivio Hotels boasted hotel assets worth 5.82 billion euros, up 0.5% over six months on a like-for-like basis, with capitalization rates stabilizing and revenue growth continuing.

Copyright (c) 2024 CercleFinance.com. All rights reserved.