Accor to merge with Ennismore to create hospitality’s ‘leading lifestyle operator'
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The owner operator of The Hoxton and Gleneagles is to enter into a merger with Accor in a bid to create the ‘world’s leading lifestyle operator in the hospitality sector’.
Ennismore and Accor have entered into ‘exclusive negotiations’ to become a combined entity that will comprise 12 brands, with 73 hotels in operation and a pipeline of more than 110 hotels and another c.70 hotels under ‘active discussion’.
The brands include The Hoxton, Gleneagles, Delano, SLS, Mondrian, SO/, Hyde, Mama Shelter, 25hours, 21c Museum Hotels, TRIBE, JO&JOE and Working From_.
The new entity will be headquartered in London and will take the name Ennismore.
Sharan Pasricha, founder and CEO of Ennismore and Gaurav Bhushan, CEO of the Accor Lifestyle division will become co-CEOs.
Accor will be the majority shareholder of the new entity, with Sharan Pasricha holding a substantial minority position, with the deal expected to be completed in the ‘first semester’ of 2021.
