Accor Finalizes Agreement to Sell Stake in Essendi

Accor has confirmed the signing of a definitive binding agreement for the sale of its approximately 30.7% stake in Essendi. This move follows the initial announcement from April 2026. The agreement was reached on July 23, 2026, involving a consortium of Blackstone and Colony IM purchasing the stake for up to €975 million. This includes €675 million payable upon closing and a possible earn-out of up to €300 million.

In tandem with the sale, Essendi's hotel portfolio will convert to franchise contracts, facilitating Accor's strategy to enhance business resilience. Hotels will continue operating under Accor brands with franchise contracts averaging 20 years. The transaction aligns with the EBITDA objectives stated during Accor’s June 2023 Capital Markets Day.

The deal is anticipated to conclude in the fourth quarter of 2026 following regulatory approvals. Post-closure, Accor plans a €500 million share buyback to return proceeds to its shareholders.