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Published on 28/10/25, Updated on 17 hours ago
Accor has begun evaluating the potential initial public offering of Ennismore, its lifestyle hotel and restaurant entity. The move signals a new phase in the group’s strategy to strengthen and optimize its portfolio.
Assessing a potential IPO
Two months ago, we mentioned the possibility of Ennismore going public, according to information reported by Bloomberg. That speculation now appears to be confirmed, as Accor references this potential move in its latest financial report.
Accor’s board of directors has unanimously approved preparatory work for a possible listing of Ennismore. According to the group, the transaction would aim to provide greater financial flexibility and support for growth while maintaining Accor’s majority control.
“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.” – Sébastien Bazin, CEO, Accor
Chief Financial Officer Martine Gerow added that evaluating and preparing for the potential IPO would likely take at least 12 months.
Ennismore’s growing role within Accor
Formed in 2021 through a joint venture between Accor and the Ennismore brand created by Sharan Pasricha, the entity now operates 192 hotels and over 500 restaurants and bars across 16 brands, including The Hoxton, Mama Shelter, 25hours, Mondrian, SLS, and Delano.
In 2024, Ennismore reported net unit growth of 17.6% and EBITDA of €170 million, reflecting its expanding influence within Accor’s portfolio.
Recent developments include new Delano hotels in New York and London, as well as the opening of Hoxton Edinburgh and Hyde London City.
Sustained momentum in a mixed global context
For the third quarter of 2025, Accor reported revenue of approximately €1.4 billion, up slightly year over year. Global RevPAR increased by 0.8%, driven by a 7.1% rise in the Americas, particularly in Brazil.
The Luxury & Lifestyle division, which includes Ennismore, posted a 5% RevPAR increase, underscoring continued growth in the segment. Sébastien Bazin commented: “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 footprint, which have enabled it to maintain strong momentum despite a mixed macroeconomic environment.”
By the end of the quarter, Accor’s portfolio comprised 5,760 hotels (859,830 rooms) worldwide, with a pipeline of 1,453 hotels representing more than 250,000 rooms.
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