Overview
- Accor signed a memorandum of understanding to dispose of its entire 30.56% stake in Essendi to a consortium led by Blackstone and Colony IM for up to €975 million.
- The price includes €675 million due at closing plus a possible earn-out of up to €300 million based on agreed milestones or performance.
- Completion is expected in the third quarter of 2026, pending a final shareholders’ agreement at Essendi and customary regulatory and antitrust approvals.
- Essendi’s hotel portfolio will move to Accor-branded franchise contracts of about 20 years, keeping the properties under brands like ibis, Novotel, and Mercure while shifting Accor’s revenue toward fees.
- Accor plans to return cash to investors through an additional €500 million share buyback, starting with an immediate €225 million tranche.