Accor’s joint venture with Ennismore is now complete, the company announced Monday. Owned by Accor and by Ennismore’s founder Sharan Pasricha, the new asset-light autonomous entity will keep the Ennismore name and is touted as the world’s largest and fastest growing lifestyle hospitality company. (Accor is the majority shareholder of the new entity, while Pasricha holds a substantial minority position.)
The deal was originally announced in November 2020 and brought together a portfolio of brands, including The Hoxton, Gleneagles, SO/, Mama Shelter, 25hours, 21c Museum Hotels, Tribe, Jo&Joe and Working From_. This came at the same time when Accor signed binding agreements on a new sbe Group ownership structure, in which Accor took full ownership of sbe’s hotel asset-light business, including the Delano, Mondrian, SLS and Hyde hotel brands. Also included were most of sbe’s food and beverage brands like Cleo, Fili’a or Carna by Dario Cecchini.
As of today, the Ennismore portfolio comprises 14 global hotel and co-working brands and a diverse collection of restaurants and bars; these represent 87 operating properties (with 141 more in the pipeline) along with over 150 restaurants and nightlife destinations.
At Questex’s recent International Hospitality Investment Forum (IHIF), as reported by our sister publication, Luxury Travel Advisor, Accor Group chairman and CEO Sébastien Bazin forecasted that leisure travel will take on more strength in Accor’s portfolio as international business travel diminishes. He added that two growing trends among leisure travelers is they want to reconnect with nature, and they want to discover local communities. As far as the latter goes, Accor says Ennismore’s portfolio of properties are known for their “unique local style.”
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