Accor to merge with Ennismore to create new lifestyle operator
Accor and Ennismore have entered into exclusive negotiations to form a lifestyle operator in the hospitality sector, focusing on one of the fastest-growing segments of the industry.
This merger, achieved through the contribution of assets, will give birth to a new autonomous and fully asset-light entity, which will bring together a unique portfolio of global brands. This London-based entity will take the name of Ennismore.
Sharan Pasricha, founder and CEO of Ennismore, and Gaurav Bhushan, CEO of the lifestyle division of Accor, will co-lead the merged entity and will be supported by an experienced international management team, made up of the best talents from different brands and activities. Accor will be the majority shareholder of this new entity, Sharan Pasricha will hold a substantial minority stake. The new venture will bring together 12 brands and 73 hotels in operation, to which will be added more than 110 establishments for which firm opening commitments