Accor in Talks to Sell $195 Million Stake in Ennismore to Qatari Consortium
Skift Take
Investors in the Middle East and Gulf states have a chance to become kingmakers in the hotel sector over the next year, as booming oil prices can help bankroll investments in the fast-recovering hospitality sector.
Accor said on Tuesday it has begun exclusive talks to sell an 11 percent stake in its Ennismore joint venture to a consortium of Qatari investors. The transaction currently estimates the stake value at $195 million (€185 million).
The transaction would include $21 million of financing by Qatar First Bank. The deal requires regulatory approval and is expected to close by year-end.
The proposed deal would command a price 18 times the 2023 fore
