Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Covivio Hotels SCA is a French Listed Real Estate Investment Company (SIIC) specializing in the ownership and management of hotel real estate assets across major European destinations. As Europe's leading hotel real estate investor, it oversees a €6.6 billion portfolio comprising around 400 properties, primarily hotels, managed through leaseholds (59% of the portfolio with an average residual lease term of 11 years) and premises and business models (41%, concentrated in Germany and France). The company partners with prominent operators such as NH Hotels, B&B, Accor, Hilton, IHG, and Marriott, leasing assets to generate stable rental income while minimizing operational risks. Covivio Hotels SCA emphasizes sustainability, with 97.5% of its portfolio holding environmental certifications like Green Key, European Ecolabel, and LEED, targeting 100% by 2025, and supports partners in reducing carbon footprints. Through its WiZiU platform, it manages hotels in France and Belgium, fostering innovative concepts like hybrid live-work spaces and tailored local experiences to adapt to evolving guest needs. This strategic focus positions it as a key player in the European hospitality real estate market.
36.40% operating margin is above average. ROIC at 3.87%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue grew 18.8%, still solid. Margins contracted 13.1pp, which offsets some of the top-line progress.
Net debt of €2.21B represents 8.6x FCF, leverage limits flexibility. Operating margin contracted 13.1pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
€695M
▲ +18.8% YoY
Net Income (TTM)
€320M
▲ +35.1% YoY
Op. Margin
36.40%
▼ -13.1pp YoY
ROIC
3.87%
Cash Flow & Balance Sheet
FCF (TTM)
€258M
▲ +21.0% YoY
Op. Cash Flow (TTM)
€389M
▲ +22.6% YoY
Net Debt
€2.21B
Cash & Equiv.
€338M
3Y CAGR: +14.2%
3Y CAGR: +11.5%
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