Accor has signed a memorandum of understanding to sell its 30.56 percent stake in Essendi, formerly AccorInvest, to a consortium comprised of Blackstone and Colony Investment Management for up to €975 million ($1.12 billion).
The transaction includes €675 million ($778 million) payable at closing and an earnout of up to €300 million ($346 million). As part of the agreement, Essendi’s hotel portfolio would be gradually converted into franchise contracts, aligning with Accor’s strategy to simplify its business model and enhance earnings visibility. All properties would remain under Accor brands, with new franchise agreements extending 20 years
