Accor to sell 10.8% stake in Ennismore to Qatari consortium for 185 million euros

PARIS: French hotels group Accor is to sell a 10.8% stake in Ennismore to a Qatari consortium for 185 million euros ($195 million), the French hotels group said Tuesday.
Accor said the deal valued Ennismore, known for Hoxton hotels in London and New York, at more than 2 billion euros, showing growing interest in high-end lifestyle brands.
Accor also said it was merging its stakes in hotel brand Rixos and upscale restaurant operator Paris Society into Ennismore, which the group jointly founded with Sharan Pasricha in October 2021.
The fast-growing business has been opening a new hotel every two weeks and will now count 130 hotels in nearly 40 countries.
The deal is expected to close in the second half of the year, leaving Accor with a 62.2% stake in Ennismore.