India, April 15 -- Covivio SA (COV.PA), a French real estate company, on Wednesday announced the acquisition of a major portfolio of four 4-star hotels in Milan for EUR 217 million through its subsidiary Covivio Hotels.
The acquisition was finalized through a sale and leaseback transaction with Invest Hospitality, which will continue to operate these properties.
The acquisition will boost the Group's presence in the hotel sector in Italy, a market supported by robust demand.
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This fully recently renovated portfolio of hotels will feature high-energy performances and a low environmental impact, the company said.
The Milan hotels, located in the Scalo Far...