Two of the largest lifestyle hotels operators closed on a merger, marking the launch of a new lifestyle brand named Ennismore – now the largest & fastest growing lifestyle hospitality company.
Accor, operator of brands like SLS and Morgans Originals, and Ennismore, the company behind brands like the Hoxton and Gleneagles, will jointly operate their lifestyle hotel brands in the new standalone entity that retains the Ennismore name.
Accor is now the majority owner of the new entity with 66.67 per cent of the shareholding and Ennismore founder and CEO, Sharan Pasricha with 33.33 per cent holding.
This joint venture brings together the Ennismore know-how, in building brands with a purpose through creative storytelling, design and authentic experiences with Accor’s wealth of knowledge in delivering scale, network growth and distribution.
Their portfolio today includes 87 properties globally, with an additional 146 hotels in committed pipeline across different regions, operating under unrivalled brands including 21c Museum Hotels, 25hours, Delano, Gleneagles, Hyde, JO&JOE, Mama Shelter, Mondrian, Morgans Originals, SLS, SO/, The Hoxton, TRIBE and Working From_.
Sébastien Bazin, Chairman & CEO of Accor, has been vocal about boosting the company’s lifestyle brands, keeping it core to Accor’s development and growth strategy over the last years.
This new, unified and powerful venture will benefit from an in-house global creative studio, designing award-winning interiors and brand communication; an expert digital and technology team innovating the guest experience; and a fully integrated restaurant and bars concept platform where specialists craft unique concepts rooted in their neighborhoods.
Speaking about the announcement, Sharan 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.”
Gaurav Bhushan adds: “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.”
The merger’s aim is to combine Ennismore’s ability to build cool brands with Accor’s knack for scale and ability to provide a global distribution platform.