Accor, Ennismore finalize deal, create lifestyle giant

Accor has closed on its previously announced deal with lifestyle brand developer Ennismore, taking a 66.67% share of the new entity called Ennismore, while Ennismore founder Sharan Pasricha holds a 33.33% share.

Accor is de-consolidating formerly leased assets into a separate structure created with a fund managed by Keys REIM as majority owner with 51% shareholding, while Accor and Ennismore affiliates both hold 24.5%.

The deal makes Accor one of the biggest lifestyle brand players with a portfolio that includes 87 operating properties with another 141 hotels in the pipeline under a wide range of brands that include 21c Museum Hotels, 25hours, Delano, Gleneagles, Hyde, JO&JOE, Mama Shelter, Mondrian, Morgans Originals, SLS, SO/, The Hoxton, TRIBE and Working From_.

Hoxton’s co-working space called Working From_ located on floors inside Hoxton hotels.

Pasricha and Accor’s Gaurav Bhushan will act as co-CEO of the autonomously run business that also includes more than 150 restaurants and nightlife destinations. The deal merges Pasricha’s brand creativity with Accor’s scale and distribution.

“This exciting new chapter for Ennismore marks the start of something special,” Pasricha told HOTELS. “This joint venture allows us to bring together Ennismore’s experience in building brands with purpose through creative storytelling, design and authentic experiences, and Accor’s wealth of knowledge around scale and growth, to create something that’s never been done.

“Setting us apart from other hospitality companies from the beginning, Ennismore’s team will be brand-led rather than region-led, to ensure we stay true to the DNA of each brand as we grow. I couldn’t be more excited for this new chapter — and with 141 hotels in the pipeline across our 14 brands, this feels like just the beginning.”