Accor has entered into a merger for several of its brands with Ennismore, creator of The Hoxton, as it seeks to create a powerful new company with lifestyle hotels at its heart.
The hospitality giant’s chairman and chief executive Sebastien Bazin said the lifestyle sector was “set to become the engine of our exciting future growth”, with the deal seeing the coming together of 12 brands.
Between them, the brands already have 73 hotels in operation, a committed pipeline of more than 110 hotels and 70 hotels under active discussion, all of which will now sit under the new London-based new entity that takes on the name Ennismore.
Sharan Pasricha founded Ennismore in 2011 and has gone on to cement Hoxton as one of the world’s leading lifestyle brands, with hotels in Europe and the US, as well as reimagining Scottish estate hotel Gleneagles for a new generation of luxury traveller.
The Hoxton and Gleneagles – along with Pasricha’s newest project Working From, a communal workspace brand – will now sit with the likes of Delano, SLS, Mondrian, SO, Hyde, Mama Shelter, 25hours, 21c Museum Hotels, Tribe and Jo&Joe.
Accor will be the majority shareholder of the new entity, with Pasricha holding a substantial minority position and becoming co-chief executive of the combined entity with Gaurav Bhushan, current chief executive of the Accor Lifestyle division.
The all-share merger creates what Bazin said will be a new “autonomous and fully asset light entity”.
“Lifestyle, entertainment, places with a soul have been at the heart of our development and growth strategy over the last years. Partnering with Ennismore’s founder Sharan and his great teams will take our lifestyle ambition to a new and exciting level,” said Bazin.
“With this combination, we are leading the hospitality industry by creating the largest and fastest growing ecosystem of world-class brands. 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.”