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1. Company Snapshot

1.a. Company Description

Covivio Hotels specialises in holding lease properties in the hotel industry.Société d'Investissements Immobiliers Cotée (SIIC), real estate partner of leading hotel industry operators, Covivio Hotels holds a portfolio worth €6.6 billion.Covivio Hotels is rated BBB+/Stable outlook by Standard and Poor's.

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1.b. Last Insights on COVH

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1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (5.50%)

6. Segments

Walls and Funds

Expected Growth: 5.5%

Covivio Hotels' Walls and Funds strategy enables flexibility and investment opportunities, driving growth. Separating property ownership from hotel operations attracts new investors, increases asset value, and optimizes operational efficiency, leading to a forecasted CAGR of 5.5%.

Hotels

Expected Growth: 5.5%

Growing demand for unique, upscale experiences, increasing popularity of boutique hotels, and rising disposable incomes among discerning travelers drive growth in the luxury hospitality segment.

Inter-Sector

Expected Growth: 4.5%

Covivio Hotels' diversified portfolio across luxury, upscale, and budget-friendly options drives growth, fueled by increasing demand for experiential travel, rising middle-class disposable income, and strategic partnerships.

7. Detailed Products

Accommodation

Covivio Hotels offers a wide range of accommodation options, from budget-friendly rooms to luxurious suites, catering to diverse customer needs and preferences.

Meeting and Event Spaces

Covivio Hotels provides versatile meeting and event spaces, equipped with state-of-the-art technology and catering services, ideal for conferences, weddings, and social gatherings.

Food and Beverage

Covivio Hotels offers a diverse range of dining options, including on-site restaurants, bars, and room service, serving international cuisine and local specialties.

Wellness and Recreation

Covivio Hotels features wellness centers, fitness studios, and recreational facilities, such as swimming pools, spas, and game rooms, promoting relaxation and entertainment.

Concierge Services

Covivio Hotels provides personalized concierge services, assisting guests with tour bookings, transportation arrangements, and local recommendations.

8. Covivio Hotels's Porter Forces

Forces Ranking

Threat Of Substitutes

Covivio Hotels faces moderate threat from substitutes, as customers have alternative accommodation options such as Airbnb, hostels, and vacation rentals.

Bargaining Power Of Customers

Covivio Hotels has a high bargaining power of customers, as customers have many options to choose from and can easily switch to competitors.

Bargaining Power Of Suppliers

Covivio Hotels has a low bargaining power of suppliers, as the company has a strong negotiating position due to its large scale of operations.

Threat Of New Entrants

Covivio Hotels faces a moderate threat of new entrants, as entering the hotel industry requires significant capital investment and regulatory compliance.

Intensity Of Rivalry

Covivio Hotels operates in a highly competitive industry, with many established players and a high level of rivalry among hotels.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 42.08%
Debt Cost 6.87%
Equity Weight 57.92%
Equity Cost 9.16%
WACC 8.20%
Leverage 72.66%

11. Quality Control: Covivio Hotels passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Covivio

A-Score: 6.7/10

Value: 4.0

Growth: 6.4

Quality: 5.2

Yield: 8.8

Momentum: 8.5

Volatility: 7.3

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Stock-Card
Apple Hospitality REIT

A-Score: 6.6/10

Value: 7.2

Growth: 5.7

Quality: 7.0

Yield: 9.0

Momentum: 2.0

Volatility: 8.7

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Stock-Card
CTP

A-Score: 6.6/10

Value: 4.8

Growth: 6.8

Quality: 6.7

Yield: 6.2

Momentum: 6.5

Volatility: 8.3

1-Year Total Return ->

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Stock-Card
Park Hotels & Resorts

A-Score: 6.1/10

Value: 8.6

Growth: 4.9

Quality: 4.6

Yield: 10.0

Momentum: 2.5

Volatility: 6.0

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NEPI Rockcastle

A-Score: 6.0/10

Value: 5.9

Growth: 6.4

Quality: 6.9

Yield: 10.0

Momentum: 3.0

Volatility: 4.0

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Stock-Card
CA Immobilien

A-Score: 4.8/10

Value: 3.0

Growth: 2.3

Quality: 4.7

Yield: 8.8

Momentum: 2.5

Volatility: 7.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

23.3$

Current Price

23.3$

Potential

-0.00%

Expected Cash-Flows