AccorInvest, one of Europe’s largest hotel landlords, has rebranded under a new name and a new look, as Essendi.
The change of look has been planned to underline the changes that the business has experienced over recent years, and make it clear that Essendi will now be heading in a new direction. Split out from Accor, it is now setting sail on an independent future, exploiting new real estate opportunities.
Moving in a new direction
For the future, the group is now basing its activities around the ambition of promoting positive hospitality; and a mission to serve people and communities. It is working to build values of care, dare – the audacity to innovate, and empower.
“This change of identity completes our transformation and opens a new chapter in our history,” said CEO Gilles Clavie. “We are proud to position ourselves as a pioneer in sustainable hospitality. Essendi is today a solid, agile, and forward-looking group, ready to seize sustainable growth opportunities in the sector and champion the voice of positive hospitality.”
AccorInvest was originally created in 2017, as the holding vehicle for all of the Accor group’s real estate interests. The move came as Accor sought to restructure under similar lines as other global hotel groups such as Marriott and Hilton, with an “asset light” structure that split real estate assets from the business of owning, developing, marketing and managing hotel brands.
In 2018, Accor made stakes in AccorInvest available to external investors. At that point, the business had a portfolio of 891 hotels, mostly located in Europe and with the majority in the economy and midscale segments of the market. In February 2018, Singaporean sovereign wealth fund GIC, along with other investors, committed to ownership of AccorInvest stakes. Initially, 55% of the business was sold to GIC, along with PIF, Credit Agricole Assurances, Colony NorthStar, Amundi and other investors, yielding EUR4.4 billion for Accor.
Accor committed to long term operational contracts for the hotels within the business, of typically 30 to 50 years, depending on the market segment.
While the pandemic interrupted the transformation plans for the business, these have since been put back on a fresh track. AccorInvest sold down some of the portfolio, with receipts reducing debt. In a notable deal with major French hotel investor Covivio, agreed in 2024, AccorInvest agreed an asset swap that untangled cross holdings, and gave both parties closer control over a range of hotels, increasing options for the future.
Planning a greener future
AccorInvest has also worked to reduce and restructure debt, and in 2024 issued two tranches of bonds. As a result, it is now in a far stronger place financially. Today, the business has 576 hotels in 24 countries, and operates with 20,000 employees.
As a major property owner, the other growing challenge for Essendi, is ensuring its properties are as energy efficient as possible. The group has set ambitious ESG targets, aiming to reduce greenhouse gas emissions by 50% by 2030, and wanting to achieve carbon neutrality by 2050.
