The portfolio starts with 12 brands and includes the properties of the sbe group, the Hoxton chain, Mondrian and 21c Museum Hotels
French hotel group Accor and British company Ennismore, parent company of the Hoxton hotel chain and Scottish Gleneagles resort, have announced the formation of what the companies are calling the world’s leading lifestyle operator in the hospitality industry.
The new group’s portfolio includes brands from the hotel group sbe Entertainment, in which Accor has held 50% of the capital since 2018. To facilitate the agreement with Ennismore, Accor takes full ownership of sbe after concluding an agreement with founder Sam Nazarian . Accor also announces the acquisition of its partners of the Mama Shelter and 25hours brands.
Through the merger of all shares, a new stand-alone entity operating as Ennismore will bring together a portfolio of brands that includes The Hoxton, Gleneagles, Delano, SLS, Mondrian, SO /, Hyde, Mama Shelter, 25h, 21c Museum Hotels, TRIBU, 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. Accor will be the majority shareholder of the new entity, Pasricha holding a substantial minority position.
At its inception, the company will have a portfolio of 12 brands with 73 hotels in operation, with more than 110 in progress, as well as more than 150 destination restaurants and bars. 70 other properties are in active discussions, the group said.
The deal is expected to be finalized early next year.