Accor to Sell 31% Stake in Essendi to Blackstone and Colony for Up to €975 Million
📈 Accor is selling its 31% stake in Essendi to Blackstone and Colony Investment Management for up to €975 million (approximately $1.1 billion). Essendi's hotels will transition to Accor franchise agreements as part of the deal. This move marks Accor's strategic shift towards an "asset-light" model, focusing on securing 20 years of fee income rather than owning hotel properties.
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