Accor and Ennismore to form the world's leading lifestyle operator

Accor and Ennismore have announced that they are entering into exclusive negotiations to form the world’s leading lifestyle operator in the hospitality sector.

The new autonomous and fully asset-light entity, entitled Ennismore, will comprise 12 brands with 73 hotels in operation, alongside a committed pipeline of more than 110 hotels and another c. 70 hotels under active discussion in addition to over 150 destination restaurants and bars.

The partnership will bring together a portfolio of world-class brands including The Hoxton, Gleneagles, Delano, SLS, Mondrian, SO/, Hyde, Mama Shelter, 25hours, 21c Museum Hotels, TRIBE, JO&JOE and Working From_.

Sharan Pasricha, founder and CEO of Ennismore and Gaurav Bhushan, CEO of the Accor Lifestyle division will become Co-CEOs of the combined entity, alongside an experienced, highly skilled and international management team coming from the various brands and industries across the globe.

Accor will be the majority shareholder of the new entity, with Sharan Pasricha holding a substantial minority position. In order to form this joint venture, Accor intends to buy out its partners in sbe, Mama Shelter and 25hours.

Under the leadership of Sharan Pasricha and Gaurav Bhushan, each brand will retain their unique culture and purpose, supported by dedicated teams and with the full support of their founders, including the Trigano family, founders of Mama Shelter; Christopher Hoffman, founder of 25 Hours; Sam Nazarian, founder of sbe; Laura Lee Brown and Steve Wilson for 21C, and Melissa and Mark Peters for TRIBE.

The partnership will benefit from an in-house global creative studio, designing award-winning interiors and brand communication; an expert digital and technology team innovating the guest experience; and a team of restaurant and bar specialists crafting unique concepts rooted in their neighbourhoods.

Sharan Pasricha, Founder & CEO of Ennismore said: “Over the last nine years, our mission with Ennismore has always been creating hospitality brands that inspire discovery. I’m passionate about how brands make you feel, from the personalised digital experience to the design, and with an incredible team of operators and creatives around me, we have expanded The Hoxton across the globe; reimagined Gleneagles; and crafted unique restaurant and bar concepts.”

Pasricha adds: “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. I look forward to working with Gaurav and Sébastien on this exciting next chapter as we become an unrivalled player in the hospitality industry.”

Accor’s Lifestyle operations currently represent c.5% of Accor’s fees and over 25% of the pipeline fees. Growth will be accelerated, building on a strong footprint in Europe and the U.S., and a rapidly expanding presence in Asia Pacific, the Middle East and South America supported by Accor’s development teams.

“Joining forces with Sharan and Ennismore’s talented teams will be a major step in Accor’s development strategy,” says Gaurav Bhushan, CEO of Accor’s Lifestyle operations. “With this combination, we are putting together an unrivalled portfolio of unique brands that appeals to owners, partners and guests, supported by the greatest set of talents in the industry, state of the art distribution and tools and a common ambition to continue to grow and innovate.”

Sébastien Bazin, Chairman & CEO of Accor said “ Lifestyle is a sector fuelled by passionate and daring entrepreneurs, constantly pushing the boundaries of a reinvented vision of travelling the world. I am proud Accor has been able to join forces with many of the most creative and talented ones. This new powerful combination is set to become the engine of our exciting future growth.”

Closing is expected to occur in the first semester of 2021 and is subject to the employee consultation process and customary regulatory authorisations for projects of this type.