Ennismore eyes ‘new chapter’ as Accor joint venture completes

by | 06 Oct 2021 | Portfolio

Sharan Pasricha, founder of Ennismore, has hailed a “very exciting day” for the lifestyle hospitality company following the closing of a much-anticipated joint venture with Accor.

A new lifestyle powerhouse has been created encompassing a raft of high-profile brands, including The Hoxton, Delano, Mondrian, Mama Shelter and 25hours.

Accor and Ennismore join forces

Accor and Ennismore have announced that a proposed deal to create a landmark joint venture, which was first mooted in late 2020, has successfully completed. Under the terms of the all-share merger, the French hotel group has acquired a 66.7% majority stake in a new autonomous entity, with Ennismore founder Sharan Pasricha taking a 33.3% holding.

This transaction combines Ennismore’s expertise in building brands with purpose through design, creative storytelling and authentic experiences with Accor’s strengths in scale, distribution and network growth. The new entity will retain the Ennismore name.

At the same time, Accor has deconsolidated formerly leased assets into a structure created with a fund managed by Keys REIM, which holds a 51% stake. Accor and Ennismore affiliates each have a 24.5% interest.

Led by Sharan Pasricha and Gaurav Bhushan

The joint venture will be led by Pasricha and Accor’s Gaurav Bhushan, who will serve as co-CEOs.

Pasricha said: “It’s a very exciting day and the start of a new chapter for Ennismore as we become the largest and fastest growing lifestyle hospitality company. I couldn’t be more excited to bring together our unrivalled portfolio of brands in this new entity, and share the reins with my longtime friend and now co-CEO, Gaurav.”

Bhushan added: “This joint venture has been months in the making and I couldn’t be happier to join Ennismore as co-CEO, alongside Sharan. Our teams are ready and eager to build on each of our unique lifestyle brands, with a dynamic global pipeline, creating an ecosystem of memorable and curated experiences across all our properties.”

An impressive brand portfolio

The joint venture’s footprint spans 87 operating properties – with a further 141 in the pipeline – alongside more than 150 restaurants and nightlife destinations. Its brand portfolio includes 21c, 25hours, Delano, Gleneagles, Hyde, Jo&Joe, Mama Shelter, Mondrian, Morgans Originals, SLS, SO/, The Hoxton, Tribe and Working From_.

Among other capabilities, Ennismore boasts an in-house creative studio, an integrated restaurant and bars concept platform, and a digital product and technology innovation lab. The lifestyle hospitality company was founded by Pasricha in 2011.

Related Articles

LOTTE HOTEL WORLD re-opens TOH LIM the CANTON TABLE

LOTTE HOTEL WORLD re-opens TOH LIM the CANTON TABLE

Previous Next Scouted Chinese chefs present the essence of Cantonese cuisine Provides special service such as tea performance by tea sommelier LOTTE HOTEL WORLD newly opened its Chinese restaurant, TOH LIM the CANTON TABLE from January 1st, 2023. Opened in 1988, LOTTE...

Ace Hotel snapped up by ambitious hospitality group

Ace Hotel snapped up by ambitious hospitality group

The Ace Hotel brand will now become part of the Portland, USA-headquartered Sortis group, which aims to double its hotel footprint by 2025. Major deal The US$85 million all-cash transaction is expected to close at the end of Q1 2023, subject to customary closing...

Accor signs 13 sites for new Handwritten Collection

Accor signs 13 sites for new Handwritten Collection

The ‘midscale plus’ line completes the group’s boutique collection brand portfolio, following upper upscale MGallery and the luxury Emblems Collection. Easy conversions Focused towards experience-seeking Millennial travellers, Handwritten Collection properties will...

Sonesta opens The James brand to franchising

Sonesta opens The James brand to franchising

The luxury boutique hotel line will now offer franchisees a high-end lifestyle option in major urban and resort destination markets. New York prototype Currently, The James Nomad, New York is the prototype for future properties under its licence agreement. Sonesta...

Marriott rolls out new Fairfield template for European expansion

Marriott rolls out new Fairfield template for European expansion

The new 136-guestroom prototype modular hotel has been developed to reflect the principles of European architecture and design, and to deliver fast and adaptable construction using advanced offsite manufacturing technology.  Quicker build Marriott estimates that the...

Preferred Hotels & Resorts’ parent company refreshes branding

Preferred Hotels & Resorts’ parent company refreshes branding

The group is the parent company of independent hotel brand, Preferred Hotels & Resorts, sustainable hotel brand Beyond Green, and travel and tourism consultancy brand, PTG Consulting, among others. Wider influence The change to Preferred’s corporate identity is...

ABOUT THE CHAIN

 

Ennismore develops, operates and curates unique hospitality brands in some of the most exciting cities and neighbourhoods around the world.

Error, group does not exist! Check your syntax! (ID: 3)