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Accor and Ennismore Finalize their Joint-Venture
Posted on October 4, 2021
The new entity, ENNISMORE, becomes the leader in lifestyle hospitality and the fastest growing player in the world
Accor becomes, following a merger by contribution of shares, the majority shareholder of Ennismore, a new entity in which the Group holds 66.67%, the remaining 33.33% being held by Mr. Sharan Pasricha.
This joint venture combines Ennismore's recognized expertise in the design of meaningful brands, driven by ultra-creative narrative, unique design and authentic experiences, and the power of Accor in terms of network and distribution.
At the same time as this operation, Accor is deconsolidating the leased hotel assets grouped together within a separate structure, created in partnership with a fund managed by Keys REIM, which becomes the majority shareholder with a 51% stake, the subsidiaries of Accor and 'Ennismore respectively holding 24.5% of this new entity.