- Accor plans U.S. IPO for Ennismore this year.
- Ennismore targets $3.7B valuation on 2025 earnings.
- It entered U.S. market with The Hoxton Williamsburg in 2018.
ACCOR SA IS planning a U.S. initial public offering for Ennismore, which operates more than 200 hotels and 500 restaurants. Goldman Sachs is leading the offering, with BNP Paribas, J.P. Morgan and Societe Generale serving as advisers.
A listing could occur as soon as this year, Bloomberg reported, citing people familiar with the matter.
Accor, which acquired a 62 percent stake in Ennismore through a 2021 joint venture, may seek a valuation of about $3.7 billion or €3.2 billion for the hospitality group based on its 2025 earnings.
Founded in 2011 by Sharan Pasricha, Ennismore operates lifestyle brands including The Hoxton and Mama Shelter. It entered the U.S. market in 2018 with the opening of The Hoxton Williamsburg in New York.
Accor and InterGlobe Enterprises are also considering an IPO for their hotel joint venture in India, which plans to open 300 properties by 2030. The venture has shifted its focus from premium and midscale hotels to luxury properties.
Accor Chairman and CEO Sébastien Bazin will step down by May 2028 after announcing at the company's annual shareholder meeting that his current term will be his last.
