In a surprising move, French hotel group Accor announced on Tuesday that it is buying Ennismore.
Ennismore might not mean anything to you, but it owns Gleneagles – now one of the best hotels in the UK following its astonishingly expensive refurbishment – and The Hoxton lifestyle chain.
Ennismore’s influence is substantially bigger than the number of hotels it currently runs, and it had a strong pipeline including a new budget brand called NoCo.
I imagine that Sharan Pasricha, Founder and CEO of Ennismore, was attracted by the deal Accor has offered.
Pasricha will become Co-CEO of a new lifestyle business inside Accor. Accor will inject its existing lifestyle brands, including Delano, SLS, Mondrian, SO/, Hyde, Mama Shelter, 25h, 21c Museum Hotels, TRIBE and JO&JOE. Where necessary, it is buying out its partners in these brands so that the company has complete control.
The new lifestyle division will contain 73 hotels and will be based in London. In a sign of the direction that Accor is taking, lifestyle hotels account for 25% of Accor’s pipeline despite generating just 5% of current fee income.
I would expect Gleneagles and The Hoxton to join Accor Live Limitless at some point. Unfortunately, as this is a fully revenue based loyalty scheme both for earning and burning, there isn’t really much to get excited about.
You can read more about the deal here.
You can read my review of Gleneagles here. The photo above is my gang doing gun dog training during our stay.
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