Accor could be looking to separating its Ennismore division into its own company and listing it on the stock market, the company said in its third quarter report.
While noting “there is no certainty that this transaction will be completed,” Accor’s board of directors unanimously approved the preparation work required to evaluate the possibility of listing Ennismore.
Currently, the lifestyle hotel and restaurant group has 192 hotels and over 500 bars and restaurants globally. Hotel brands under Ennismore include Delano, Mondrian, SLS, SO/ and The Hoxton.
In 2024, Ennismore posted sustained growth in its network with a Net Unit Growth (NUG) of 17.6% and an EBITDA of €170 million as a contribution to Accor’s financial statements. The potential transaction would, however, enhance liquidity and flexibility to support Ennismore’s growth platform. Should it be completed, Accor would remain the controlling shareholder of Ennismore.
Sébastien Bazin, Chairman and CEO of Accor, said, “The Group continued to grow and develop its network during the third quarter of 2025. This performance demonstrates the appeal of its brands and the diversity of its geographical locations, which have enabled it to maintain strong momentum despite a mixed macroeconomic environment. To address these uncertainties, the Group’s profit protection measures are proving effective and now enable us to raise our recurring EBITDA growth target for the year.
“We are therefore pursuing our growth trajectory and operational and financial discipline, while activating new levers for value creation. This is the rationale behind the launch of a new share buyback program. It is also why we are exploring the possibility of a potential listing of Ennismore, our lifestyle brands portfolio. As a key asset for the Group, we intend, if this transaction occurs, to retain control while providing it with even more resources to accelerate its development.”
Recently, Delano announced plans to expand into New York and London, while Rixos will add six all-inclusive hotels in Mexico to its portfolio.
Lead image: Delano Miami Beach, Lobby render
