COVIVIO HOTELS (EPA:COVH) - Covivio Hotels : intends to launch a share capital increase of approximately €250 million

Transparency directive : regulatory news

27/04/2021 18:00

Not for release, directly or indirectly, in the United Stated, Canada,
Australia or Japan.

                               PRESS RELEASE

Paris, 27 April 2021

  Covivio Hotels intends to launch a share capital increase of approximately
                              EUR250 million

Covivio Hotels, a subsidiary held at 43,5% by Covivio dedicated to hotel
investments, intends to launch a capital increase with shareholders'
preferential subscription rights(1) of approximately EUR250 million in the
upcoming weeks, subject to market conditions.

All the main shareholders of Covivio Hotels, members of the Supervisory Board
and representing approximately 97% of the company's share capital, have already
undertaken to subscribe on an irreducible basis (à titre irréductible) for
shares in the capital increase in proportion to their respective shareholding
at a maximum price per share of EUR16 (the final price will be decided by the
General Manager of Covivio Hotels according to market conditions). Covivio has
also undertaken to subscribe for shares on a reducible basis (à titre
réductible) to cover the residual share capital (3%).

The acceleration of vaccination campaigns in Europe and the first announcements
of post- lockdown plans, especially in the United Kingdom, suggest a recovery
of the activity. In this context, the significant rebound in hotel occupancy
rates in China and in the United States shows the capacity for a quick recovery
in the hotel industry, once the health crisis has passed.

Convinced of the strong foundations of the European hotel market, Covivio
Hotels is preparing the resumption of the activity with this capital increase.
While strengthening and optimizing its balance sheet, Covivio Hotels is giving
itself the means to seize any investment opportunities that may arise.

"The hotel industry has consistently shown its tremendous ability to rebound
and adapt. The will and need to travel will emerge stronger from this
challenging period. With EUR6 billion in assets spread over a dozen countries
in Europe, we are today the European leader in hotel property. Alongside our
partners, and with this transaction, we are preparing for the recovery, in
order to consolidate our presence in this market", says Dominique Ozanne, Chief
Executive Officer of Covivio Hotels(2).

"This capital increase supported by all shareholders demonstrates the
confidence in the company's ability to benefit from the recovery and continue
its development. It also demonstrates our culture of partnership which aims to
build sustainable links with our various stakeholders, in particular our
financial partners who support us over the long term", said Christophe
Kullmann, Chairman of the Supervisory Board of Covivio Hotels and Chief
Executive Officer of Covivio.

(1) Subject to the AMF's approval of the Prospectus
(2) As of 1 July, Tugdual Millet will replace Dominique Ozanne as Chief
Executive Officer of Covivio Hotels: PR-Appointments

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CONTACTS

Press Relations
Géraldine Lemoine
Tél : + 33 (0)1 58 97 51 00
geraldine.lemoine@covivio.fr

Laetitia Baudon
Tél : + 33 (0)1 44 50 58 79
laetitia.baudon@shan.fr

Investor Relations
Paul Arkwright
Tél : + 33 (0)1 58 97 51 85
paul.arkwright@covivio.fr

Quentin Drumare
Tél : + 33 (0)1 58 97 51 94
quentin.drumare@covivio.fr

ABOUT COVIVIO HOTELS
Covivio Hotels specialises in ownership of lease properties in the hotel
industry. A listed property investment company (SIIC) and the real estate
partner of large players in the hotel industry, Covivio Hotels holds a
portfolio valued at EUR6,5 billion (in total share at the end of 2020).
Covivio Hotels is rated BBB+ / with Stable outlook by Standard and Poor's.

ABOUT COVIVO
Thanks to its partnering history, its real estate expertise and its European
culture, Covivio is inventing today's user experience and designing tomorrow's
city.
A preferred real estate player at the European level, Covivio is close to its
end users, capturing their aspirations, combining work, travel, living, and
co-inventing vibrant spaces.

A leading European operator with a portfolio valued at EUR26 billion, Covivio
supports companies, hotel brands and regions to deal with the challenges of
attractiveness, transformation and responsible performance.
Creating well-being and sustainable links is the corporate purpose of Covivio,
which delivers its role as a responsible real estate operator with all
stakeholders: clients, shareholders and financial partners, internal teams,
local authorities and future generations. Also, its dynamic approach to real
estate provides teams with the prospect of exciting projects and careers.

Disclaimer

This press release and the information contained herein do not constitute an
offer to subscribe or purchase, or the solicitation of an offer to purchase or
to subscribe, or the solicitation of a purchase or subscription order, or
subscription rights or securities of Covivio Hotels (the "Company") in any
country. The information contained in this press release is for background
purposes only and does not purport to be full or complete and none may rely for
any purpose whatsoever on the information contained in this press release or
its accuracy or completeness.

This press release does not constitute a prospectus within the meaning of
Regulation (EU) 2017/1129 of the European Parliament and of the Council of June
14, 2017 (as amended the "Prospectus Regulation"). Potential investors are
advised to read the prospectus when it will be published before making an
investment decision in order to fully understand the potential risks and
advantages associated with the decision to invest in the securities. The
approval of the prospectus by the AMF should not be understood as an
endorsement of the securities offered or admitted to trading on a regulated
market. The approval of the prospectus by the AMF should not be understood as
an endorsement of the securities offered or admitted to trading on a regulated
market. With respect to the member states of the European Economic Area (other
than France) (each a "Relevant State"), no action has been undertaken or will
be undertaken to make an offer to the public of the securities referred to
herein requiring a publication of a prospectus in any Relevant State.
Therefore, the securities may not and will not be offered in any Relevant State
except in accordance with the exemptions set forth in Article 1 (4) of the
Prospectus Regulation or under any other circumstances which do not require the
publication by the company of a prospectus pursuant to Article 3 of the
Prospectus Regulation and/or to applicable regulations of that Relevant
State.

The distribution of this press release has not been made and has not been
approved by an "authorized person" within the meaning of Article 21(1) of the
Financial Services and Markets Act 2000. As a consequence, this press release
is only being distributed to, and is only directed at, persons in the United
Kingdom that (i) are "investment professionals" falling within Article 19(5) of
the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005
(as amended) (the "Order"), (ii) are persons falling within Article 49(2)(a) to
(d) ("high net worth companies, unincorporated associations, etc.") of the
Order or (iii) are persons to whom this press release may be sent in accordance
with the law (the persons referred to in paragraphs (i), (ii) and (iii)
together being designated as "Relevant Persons"). Any investment or investment
activity to which this press release relates is available only to Relevant
Persons and will be engaged in only with these persons. Any person who is not a
Relevant Person should not act or rely on this press release or any of its
contents. With respect to the United Kingdom, securities may not be offered or
sold absent the publication of a prospectus in the United Kingdom or an
exemption from such publication under the Regulation (EU) 2017/1129 as amended,
as it forms part of United Kingdom domestic law by virtue of the European Union
(withdrawal) Act 2018 (the "UK Prospectus Regulation"). As a consequence, this
document is directed only at persons who are "qualified investors" as defined
in point (e) of Article 2 of the UK Prospectus Regulation. This press release
may not be published, distributed or released in the United States (including
their territories and possessions).

This press release and the information contained herein do not constitute an
offer or solicitation to purchase, sell or subscribe for any securities of the
Company in United States or in any other jurisdiction in which the transaction
may be subject to restrictions. Securities may not be offered or sold in United
States absent registration under the U.S. Securities Act of 1933, as amended
(the "Securities Act"), except pursuant to an exemption from, or in a
transaction not subject to, the registration requierements thereunder. The
securities of the Company have not been and will not be registered under the
Securities Act and the Company does not intend to make a public offer of its
securities in the United States.

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COVIVIO HOTELS (EPA:COVH) - Covivio Hotels : intends to launch a share capital increase of approximately €250 million

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