Accor’s Ennismore IPO Could Boost Growth Potential and Shareholder Liquidity

Accor, the French hospitality giant, has announced that it is considering a potential spinoff of its lifestyle division, Ennismore, which operates trendy hotel and restaurant brands such as The Hoxton and Mama Shelter.

Accor’s Chief Financial Officer, Martine Gerow, confirmed that while the company is exploring an initial public offering (IPO) for Ennismore, the preparation process would take at least a year, and no final decision has been made.

The proposed spinoff is part of Accor’s strategy to increase liquidity for minority shareholders by highlighting the growth and profitability of segments that are often valued at higher multiples than traditional hotel chains, due to their distinct brand identities, social appeal, and asset-light business models.

Ennismore currently manages 192 hotels and more than 500 restaurants and bars across 16 brands, focusing on luxury, boutique, and lifestyle experiences.

While Accor will remain the controlling shareholder, the move could give Ennismore greater independence to pursue acquisitions and partnerships within the fast-growing lifestyle and luxury travel sectors.

In parallel, Accor continues to strengthen its high-end portfolio through projects like its joint venture with LVMH to revive the Orient Express brand. The first Orient Express hotel, La Minerva, opened in Rome in spring 2025, followed by another hotel, Palazzo Donà Giovannelli, expected to launch in Venice later this year.