If Accor proceeds with its Ennismore IPO then it would be a referendum as to whether investors will choose Instagram moments and craft cocktail over the familiar returns of large chain hotels.
Wall Street values scale and cost-efficiency above all. A successful IPO could make design, brand recognition, and revenue from food and beverages credible long-term sources.
Ennismore IPO if it stumbles would reinforce the prevailing belief: lifestyle belongs within big hotel group systems and not as a separate business on public markets.
Ennismore is the first lifestyle hospitality company with 180 hotels, brands like The Hoxton or Mama Shelter, as well as SLS.
Marriott, Hilton and Hyatt operate lifestyle brands, but no pure-play lifestyle operator is a significant player.
