Covivio to acquire a portfolio of 14 UK hotels from Starwood Capital Group for £830m.

Covivio, a French property management company, agreed to acquire a portfolio of 14 UK hotels from Starwood Capital Group, a global private investment firm, for £830m. "This landmark transaction represents a major milestone in our remarkable journey with The Principal Hotel Company. Five years ago, we embarked on an investment strategy aimed at consolidating more than 50 hotels across four different U.K. hotel companies to form a leading platform. With this sale to Foncière des Régions, we will have realized 35 asset disposals in total since our acquisition. As long-term institutional investors, Foncière des Régions are extraordinary custodians of real estate and we could not be more thrilled to pass them this iconic collection of assets," Cody Bradshaw, Starwood Capital Group Managing Director and Head of European Hotels.