Accor: enters exclusive talks with Ennismore

(CercleFinance.com) - The Accor and Ennismore groups announce that they have entered into exclusive talks.

Both groups want to create the world's largest lifestyle hotel operator.

"Through this all-share merger, a new autonomous and fully asset light entity will bring together an unrivalled portfolio of world class brands," Accor said.

Accor will be the majority shareholder of this new entity.

Upon its creation, the entity will bring together 12 banners and 73 hotels in operation, in addition to over 110 establishments for which firm opening commitments have already been signed and about 70 other opening projects that are being studied, as well as more than 150 restaurants and bars.

"The lifestyle platform should achieve an EBITDA of over c. E100m by midterm, the project resulting in significant cost synergies of approximately E15m per year," the group added.


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