NH Hotel Group in deal to operate Covivio luxury hotels (updated)

Covivio Hotels SCA

06/01/2020 17:10

(Adds detail)
    MADRID, Jan 6 (Reuters) - NH Hotel Group  NHH.MC  has sealed
a deal to operate eight five-star hotels owned by French real
estate group Covivio  COVH.PA  in several European European
cities, the Spanish company said on Monday.
    The eight hotels are located in Rome, Florence, Venice,
Nice, Prague and Budapest.
    The agreement comes after Covivio completed a 600 million
euro ($671 million) acquisition of the eight luxury hotels from
privately held investment fund Varde Partners.
    The properties, which include the Grand Hotel del Dogi in
Venice, the Palazzo Naiadi in Rome and the Plaza in Nice, will
be operated by NH Hotel Group for at least 15 years, it said.
    The Madrid-based hotel operator was taken over in 2018 by
Thai group Minor International  MINT.BK .
($1 = 0.8941 euros)

 (Reporting by Inti Landauro
Editing by David Goodman)
 ((Inti.Landauro@thomsonreuters.com;))