Accor considers US IPO for Ennismore

ISSY-LES-MOULINEAUX, France — Accor is considering an initial public offering in the U.S. for its lifestyle hotel vertical Ennismore, according to multiple reports.

Ennismore operates over 180 hotels under 16 lifestyle brands, including The Hoxton, Mondrian, 25hours Hotels, Hyde and Morgans Originals. The company was founded in 2011 by British entrepreneur Sharan Pasricha, and Accor formed a joint venture with the company in 2021 to run the hotels under its expansive list of brands. In 2022, Accor sold a stake to a consortium in Qatar that valued the company at more than €2.3 billion.

A report in Bloomberg said Accor has been speaking with advisers about the potential listing and would seek to value the company at several billion dollars.

Ennismore has a rapidly expanding portfolio in the Americas of 70 properties and a pipeline of signings in Mexico, Jamaica and Nashville, Tennessee. The company reached an agreement to open a second location in Chicago with a 47-story, 240-key Hoxton.

The Bloomberg story noted that deliberations are at an early stage and there’s no certainty they will lead to a transaction.

Travel Weekly’s Christina Jelski interviewed Phil Zrihen, head of Americas for Ennismore, in June and discussed the company’s growth in the Americas, especially what’s fueling growth in Mexico and the Caribbean.

“Fundamentally, those markets — and Mexico specifically — are evolving. There’s a bit of a shift in the perception of what Mexico used to be and what it’s becoming,” he said. “There’s a saturation of certain brands from our competitors that are already in the market. So we have a lot of owners who have effectively gotten to a certain point in their relationships with those managers, saying, ‘Now I need a new offering.’ That helps, because we’re kind of the new game in town as it pertains to lifestyle and all-inclusive.”