Accor's plan to spin out Ennismore, the trendy hotel and restaurant group, would test the investor appetite for lifestyle hospitality. How much more should investors pay for exposed-brick walls and craft cocktails?
Navan's landing of OpenAI, Perplexity and Anthropic as customers is a coup, and shows the company's offerings resonate in Silicon Valley. But Navan's revenue is also broad-based geographically.
Hotels are coming up everywhere in India, but they cannot keep up with the demand. The sector is now looking at homestays to bridge the gap and to boost experiential tourism in the country.
If Ennismore has a successful IPO, it could reshape how investors value hotel brands. Analysts may give value not just to room revenue and expanding footprints, but also to ancillary sales, guest engagement, and brand equity.
Accor has had at least 3 big re-orgs in a decade. Now it's fine-tuning strategy. Selling stakes in Ennismore and Orient Express could free up resources to more effectively battle the Marriotts of the world.