European property investor Covivio has taken over management of the Crowne Plaza hotel at Brussels Airport, as it seeks to vertically integrate more of its investments.
The move will see the group take operations in-house, at a property which it already owns. The shift will be away from a management contract, previously managed by global brand group IHG, with Covivio instead handling all the day to day activities of the hotel via its WiZiU platform. Covivio has previously indicated its long term desire to grow the scale of WiZiU, grabbing a greater slice of the real estate value chain.
A Growing Operating Platform
The addition of the airport hotel into the WiZiU business means that the operating platform now looks after 25 hotels, of which 13 are in Belgium. Covivio says that growing WiZiU will create an integrated hotel platform, developing more long term value from its hospitality property holdings. Over time, it plans to bring the management of more of its hotel assets into the business.
Speaking at a hotel investment event in April 2026, Covivio deputy CEO Sébastien de Courtivron said there is a desire to double the scale of the WiZiU business within five years. WiZiU is building a strong presence in France and Belgium, but for other markets such as the UK and Germany, Covivio will continue to work with other third party hotel management groups.
In recent months, the group has confirmed its commitment to continuing to invest in the hotel sector across Europe. In April 2026, Covivio Hotels acquired a EUR217 million portfolio of hotel properties in the Milan area. The deal adds to the group’s broader investments in this area of Italy, where it also owns several office properties too.
The hotels are in the four star market segment, adding up to around 900 rooms, and located in the Scalo Farini area, in Bicocca, in Corso Buenos Aires, and in Piazzale Loreto. Structured as a sale and leaseback with partner Invest Hospitality, the deal provides Covivio with a long term income via lease agreements of 21 years. The rent is in the form of a base payment, plus a variable extra payment depending on the performance of the hotels.
Active Carbon Reduction Plans
Covivio continues to look for ways to improve its environmental footprint, and reduce its carbon output. With the newly acquired hotels in Milan, it has taken on assets that were recently renovated, but further upgrades are planned, to enable certification of the hotels as LEED Gold, or assigning them the BREEAM Very Good in use rating.
In early 2026, Covivio also added a new hotel in Portugal to its portfolio. It agreed a forward purchase of a new development in the city of Porto, where developer Eiffage Immobilier Portugal is building a new hotel for operator Meininger. The 228 room hybrid property will be completed in the second half of 2028, and Meininger has already committed to a 20 year lease, guaranteeing Covivio a solid income from the asset.
