Accor has entered exclusive negotiations to sell a 10.8% of its stake in Ennismore to a consortium of Qatari investors led by Qatar First Bank (QFB) for a total amount of €185 million, demonstrating the excitement and attractiveness of lifestyle, a fast-growing segment.
In just under a year, Ennismore has delivered high growth performance, opening a new hotel every two weeks, and expanding its collective of brands in new regions with the launch of SLS Dubai, The Hoxton, Pobelou in Barcelona, 25hours Copenhagen, Mama Shelter Lisbon, TRIBE La Défense and JO&JOE Medellin.
The new deal will also further expand Ennismore’s offering across lifestyle and leisure segments with the addition of Accor’s stakes in Rixos, the all-inclusive luxury resorts, and Paris Society, the upscale collection of restaurants & entertainment venues.
Together with Ennismore’s existing Cultural Lifestyle Collective of brands, Ennismore will become a powerhouse of 17 brands, with 130 open hotels and 160 committed in the pipeline, 50 iconic venues, and over 220 Restaurant & Bars – across 40 countries.
Closing is expected to take place in late 2022.