Hospitality groups Accor and Ennismore have entered into exclusive negotiations to become a leading lifestyle operator in the global hospitality sector. The autonomous and fully asset light entity will unite a portfolio of brands including the Hoxton, Gleneagles, Delano, SLS, Mondrian, Mama Shelter, 25hours, 21c Museum Hotels, and more.
Ennismore founder and CEO Sharan Pasricha will serve as co-CEO alongside Gaurav Bhushan, the current CEO of Accor Lifestyle. Accor will become the majority shareholder of the new entity, while Pasricha will hold a substantial minority position. The partners of sbe, Mama Shelter, and 25hours will also be bought out by Accor.
“Over the last nine years, our mission with Ennismore has always been creating hospitality brands that inspire discovery,” Pasricha stated in a press release. “I’m passionate about how brands make you feel—from the personalized digital experience to the design—and with an incredible team of operators and creatives around me, we have expanded the Hoxton across the globe; reimagined Gleneagles; and crafted unique restaurant and bar concepts.”
He continued: “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. I look forward to working with Gaurav and Sébastien [Bazin, chairman and CEO of Accor] on this exciting next chapter.”
“Joining forces with Sharan and Ennismore’s talented teams will be a major step in Accor’s development strategy,” Bhushan added. “With this combination, we are putting together an unrivaled portfolio of unique brands that appeals to owners, partners, and guests, supported by the greatest set of talents in the industry, state of the art distribution and tools and a common ambition to continue to grow and innovate.”
The deal is expected to close during the first semester of 2021.
