Accor is in exclusive negotiations with Ennismore to form a new global lifestyle hotel company.
Operating under the Ennismore name through an all-share merger, the new company will debut with a portfolio of 12 brands including Ennismore’s The Hoxton hotel brand and Gleneagles.
Accor will add sbe to the Ennismore portfolio, which includes Mondrian, Delano, SO/, SLS and Hyde Hotels.
“We are putting together an unrivalled portfolio of unique brands that appeals to owners, partners and guests, supported by the greatest set of talents in the industry.”
Guarav Bhushan
Chief development officer, AccorThe group will launch with 73 hotels in operation and more than 110 hotels in committed pipeline.
It will be jointly headed by Accor’s chief development officer, Guarav Bhushan and Sharan Pasricha, CEO and founder of the UK-based hospitality developer Ennismore. Accor will be a majority shareholder while Pasricha will hold a substantial minority position.
“This exciting autonomous entity with Accor – one with culture and brand purpose at its heart – allows us to come together to build on our combined portfolio of unique lifestyle brands, accelerate our growth and explore new markets.”
Sharan Pasricha
CEO and founder, EnnismoreHeadquartered in London, UK, each brand will retain its ‘unique culture and purpose’ and be supported by dedicated teams.
Closing of the discussions is expected to happen in the first semester of 2021, subject to the employee consultation process and customary regulatory authorisations.
Consisting of more than 5,000 properties and 10,000 food and beverage venues in 110 countries, Accor was founded in 1967 and has one of the world’s most diverse and fully-integrated hospitality ecosystems. To find out more, click below
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