Lifestyle hotels, a buoyant segment in the eyes of travellers... but also investors? Accor could one day demonstrate this by introducing on the New York Stock Exchange Ennismore, the parent company of brands such as Mama Shelter, The Hoxton, 25Hours, Mondrian and the luxury all-inclusive chain Rixos.
According to the Bloomberg press agency, which revealed the plan based on sources close to the matter, " Accor is said to be in discussions with financial advisers to a possible quotation of Ennismore, which could value the company at several billion dollars ". However, neither the hotel group nor its lifestyle subsidiary has confirmed these rumours. " Deliberations are at an early stage and there is no certainty that they will result in a transaction. "These sources told Bloomberg media.
Nonetheless, this prospect seems to be gaining support, since when the possibility of an IPO was mooted on Thursday 7 August, the group's share price jumped by more than 5 %. For the record, this joint venture was created in 2021 with Sharan Pasricha, the founder of Ennismore and The Hoxton brand, with Accor holding more than two-thirds of the joint venture and the entrepreneur the remainder. Since then, the French group has sold a 10.8 % stake to a Qatari consortium for nearly €200 million in 2022. At the time, this put the value of Ennismore, in which Accor still holds a 62 % stake, at nearly €2 billion.
What are the reasons for this IPO? First and foremost, financing the expansion of Ennismore by raising capital, giving business travellers the prospect of finding attractive hotels in even more of the world's major cities. But the listing could also serve to enhance the value of a hotel business model whose revenues are driven not only by accommodation - with RevPAR for Accor's lifestyle hotels recording growth of 9.9% in the first half of 2025 - but also by its lively restaurants and bars. These are all attractive services for travellers and, above all, for local customers, who often account for more than half the profits of these establishments.
Staying ahead, continuing to grow
On the occasion of the announcement of the results for the first half of 2025, Sébastien Bazin, the CEO of Accor, estimated that his group had ahead of its major Anglo-Saxon competitors in lifestyle hotels. This is despite the fact that Marriott, Hilton, Hyatt and IHG are all seeking to strengthen their positions in this segment with the respective acquisitions of CitizenM, Nomad, International Standard or Ruby Hotels recently. A copy and paste, as it were, of the French group's strategy which, in addition to absorbing The Hoxton through the creation of a joint venture, also bought up Mama Shelter, 25Hours, Rixos, Paris Society and the American group Sbe.
In this context, Sébastien Bazin pointed out the excellent prospects for the development of these brands on the other side of the Atlantic. While his lifestyle subsidiary includes an American brand in its portfolio, the arty 21C Museum hotels, Ennismore's other brands are stepping up their expansion in the United States. development in North America In Mexico City, Hoxton, Hyde and Mama Shelter hotels are in the pipeline, with the latter two due to open this year. At the same time, the brands of the former Sbe Group will see the reopening of the renovated Delano Miami Beach and the relaunch of the Balfour Miami Beach under the Morgans Originals brand by the end of 2025.
But Ennismore's growth momentum is not limited to the Americas. Bringing together 16 brands, Accor's lifestyle subsidiary now boasts more than 180 hotels worldwideAs well as 500 restaurants and bars. And, no doubt, as many more to open tomorrow. After opening in Zürich this summer, Mama Shelter will be setting up in Asia at the beginning of September with its first hotel in Singapore, thus continuing its world tour which has seen the brand set up in the Middle East in Dubai before discovering Africa shortly with projects in Cape Town and Casablanca.
In a different style, the Jo&Joe brand, which is also part of the Ennismore family with its new-generation youth hostel concept, has recently set up in Budapest before heading to New Zealand and Auckland at the end of the year. The Pacific region will also see the debut of 25Hours in Sydney next month. Lifestyle without borders This expansion will also take place in France, with a Mama Shelter waiting to open in Toulon and another in Val d'Europe, in a business complex near Marne-La-Vallée.
