Accor signs binding deal to sell Essendi stake for up to €975m

Corporate Action

โดย Hotel Management Network·Read original

Summary · why it matters

Accor has signed a definitive binding agreement to sell its approximately 30.7% shareholding in hotel owner and operator Essendi, formerly known as AccorInvest, for total consideration of up to around €975m. The deal formalises a memorandum of understanding first disclosed in April with a consortium comprising Blackstone and Colony IM. About €675m is payable at closing, with a possible earn-out of up to €300m. All hotels in the portfolio will continue to operate under Accor brands under new franchise contracts averaging 20 years. Completion is expected in the fourth quarter of 2026, subject to regulatory and antitrust approvals, after which Accor plans to return most of the disposal proceeds to shareholders through an additional €500m share buyback programme.