January 6, 2020 / 8:13 AM / a month ago

NH Hotel Group in deal to operate Covivio luxury hotels

MADRID (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

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