Ennismore, a rapidly expanding portfolio
Founded in 2021, Ennismore brings together 16 brands, including The Hoxton, Mama Shelter, Mondrian, 25Hours and Rixos. The company currently operates more than 180 hotels and 500 bars and restaurants.
In 2022, Accor sold 10.8% of the capital to a Qatari consortium for €185 million, valuing the entity at around €2 billion. The group still owns nearly 62% of this subsidiary, which is co-managed with Sharan Pasricha, founder of The Hoxton.
A deal still in the preliminary stages
According to Bloomberg, ‘Accor has reportedly entered into discussions with financial advisers about a possible listing of Ennismore, which could value the company at several billion dollars.’
However, the sources cited specify that ‘deliberations are at an early stage and there is no certainty that they will result in a transaction.’
This hypothesis is in line with Accor’s simplification strategy, which stated in 2022 that ‘the proposed transaction reflects Accor’s ongoing simplification strategy, which consolidates its lifestyle and leisure activities into a single dedicated entity.’ This scope also includes Rixos (all-inclusive hotels) and Paris Society (restaurants and event venues).
International expansion and new projects
Ennismore’s IPO would provide leverage to finance its expansion, particularly in North America. Several openings are planned in Nashville, Chicago and Mexico City, while in Europe and Asia, Mama Shelter, Jo&Joe and 25Hours are continuing to expand into new destinations such as Singapore, Zurich, Casablanca, Auckland and Sydney.
Ennismore’s business model is based on combining accommodation with food and entertainment offerings, which are often popular with local customers who account for a significant portion of revenue. In the first half of 2025, RevPAR for Accor’s lifestyle hotels increased by 9.9%.
Increased competition in the lifestyle segment
For Accor, this transaction would also highlight a strategic asset in an increasingly competitive segment. Lifestyle is undoubtedly one of the most popular segments in recent years, both in terms of supply and demand.
As Sébastien Bazin, CEO of the group, recently pointed out, its lifestyle portfolio would give it a head start over Marriott, Hilton, Hyatt and IHG, all of which are engaged in a strategy of strengthening their position in this market through acquisitions and partnerships.
