Accor Sells €975M Essendi Stake to Blackstone-Colony, Shifts to 20-Year Franchise Model for Asset-Light Strategy
🏨 February saw a 4.3% increase in US RevPAR, with San Francisco leading. Accor plans to sell a 30.56% stake in Essendi for up to €975M to the Blackstone-Colony consortium, converting to a 20-year franchise model emphasizing fee-based revenue. This aligns with the asset-light trend, enabling Accor to redirect €975M for growth or shareholder returns. Kempinski acquired the 101-room Augustine Hotel in Prague, an 800-year-old monastery, marking its first purchase since the 1970s.
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