Accor may be in the midst of a strategic shakeup, again: The latest sign is that it is considering an IPO in the U.S. for its joint venture Ennismore, which is currently looking at bankers, Skift has learned from a source familiar with the plans.
Skift reported in October that LVMH had secured the option to purchase Accor’s Orient Express by 2027, as part of a partnership signed last year.
It will take some time for an Ennismore IPO to materialize. Then comes the more difficult question: How much is Accor’s rest worth? What should its new strategic plan be?
An Accor spokesperson stated, “We don’t commentate on market rumors.” Ennismore declined any comment.
Ennismore Growth Engine
Ennismore — a set of lifestyle hospitality brands — has been a growth engine for Accor since the companies formed a joint venture in 2021. As part of the deal, Accor acquired two-thirds and Ennismore’s founder Sharan Paricha retained a quarter.
In 2022, Accor sold a 10.8% stake in Ennismore to a Qatari consortium for €200 million (around $233 million), valuing the business at around €2 billion.
Ennismore’s finances are not broken out by Accor. In the first half this year, Accor’s lifestyle RevPAR increased 9.6% over last year.
