While the global hospitality industry – especially the hotel sector – has been severely impacted during 2020 by COVID, it hasn’t stopped commercial opportunities arising. Ennismore, the group that owns the Hoxton hotels and Gleneagles, announced yesterday that it has entered into exclusive negotiations with Accor to create a global lifestyle hospitality operator with 12 brands.
The new business will have its headquarters in London and will continue to use the Ennismore name. Sharan Pasricha, Ennismore founder and CEO, will become Co-CEO of the new business, along with Gaurav Bhushan, CEO of Accor Lifestyle. The newly formed Ennismore will have 73 hotels globally, with plans to open a further 110 hotels. Accor will be the majority shareholder, with Pasricha holding a substantial minority position. Their other hotel brands include Delano, SLS, Mondrian and Mama Shelter.
Regarding the deal, Pasricha says,“ Over the last nine years, our mission with Ennismore has always been creating hospitality brands that inspire discovery. I’m passionate about how brands make you feel, from the personalised digital experience to the design, and with an incredible team of operators and creatives around me, we have expanded The Hoxton across the globe; reimagined Gleneagles; and crafted unique restaurant and bar concepts. This exciting autonomous entity with Accor – one with culture and brand purpose at its heart – allows us to come together to build on our combined portfolio of unique lifestyle brands, accelerate our growth and explore new markets.”
This deal not only shows the continued appetite for brand-led, lifestyle hospitality businesses, but the long-term confidence that the travel and hotel industry will recover from the pandemic.
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