Accor Pushes to Sell Stake in Essendi, the Hotel Owner It Spun Off in 2017

Key Points

• Accor is in advanced discussions to sell its 30.6% stake in Essendi, an independent hotel owner it spun off in 2017.
• Essendi owns or leases 549 hotels with around 89,000 rooms across 22 countries, and the sale process is complex due to multiple sophisticated investors.
• Accor is also considering a potential IPO for Ennismore but has not provided any timeline for the listing.

Summary

Accor is progressing in talks to sell its 30.6% stake in Essendi, the hotel owner it spun off in 2017, and is negotiating with a leading investor while also discussing governance changes with other shareholders. The deal is complex due to the involvement of multiple sophisticated investors, but Accor's leadership is confident the process is on track, aiming to complete the transaction by 2026. Additionally, Accor addressed the possibility of an Ennismore IPO, noting that discussions are still exploratory and no timing has been set.