Accor and Ennismore to create lifestyle giant

Accor has revealed plans to join forces with Ennismore, owner of the Hoxton Hotels, to create what it claims will be the largest and fastest growing player in the lifestyle sector.

The Hoxton, Amsterdam

The new entity, which will operate under the Ennismore brand, will launch with 73 hotels across 12 brands including The Hoxton, Gleneagles, SO/, Hyde and TRIBE. A further 110 hotels and 150 restaurants and bars are currently in the pipeline.

Accor will be the majority shareholder of the new entity, with Ennismore CEO Sharan Pasricha holding a substantial minority position.

To form the new company, Accor announced that it would spend US$300 million on acquiring full ownership of sbe, and then add sbe’s brands which include Mondrian, Delano, SLS and Hyde Hotels into the new Ennismore group. Accor purchased a 50 per cent stake in the company in 2018.

Accor has also bought out its partners in Mama Shelter and 25 Hours, with the brands also joining the new group.

Headquartered in London, the venture will be jointly headed by Pasricha and Gaurav Bhushan, CEO of Accor’s lifestyle division, supported by an experienced international management team coming from the various brands.

Bhushan said that joining forces with Sharan and Ennismore’s talented teams will be a major step in Accor’s development strategy and create an “an unrivalled portfolio of unique brands”.

Sharan Pasricha, founder & CEO of Ennismore added: “Over the last nine years, our mission with Ennismore has always been creating hospitality brands that inspire discovery…This exciting autonomous entity with Accor - one with culture and brand purpose at its heart - allows us to come together to build on our combined portfolio of unique lifestyle brands, accelerate our growth and explore new markets.”