Covivio: buys 4-star hotel in Tenerife for â?¬81m

(CercleFinance.com) - Covivio, through its 52.
5%-owned subsidiary Covivio Hotels, has acquired a 429-room 4-star hotel in Tenerife, Canary Islands, from a company controlled by Starwood Capital.

The €81 million deal is fully in line with the Group's hotel development strategy, particularly in Southern Europe.

The property comprises 429 rooms, a restaurant, 3 bars, 3 swimming pools, a gym, squash and volleyball courts, and 2 meeting rooms for up to 140 people.


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