Accor Sells Its Stake in Essendi to a Consortium Led by Blackstone
Accor has signed a memorandum of understanding for the sale of its 30.56% stake in Essendi (formerly AccorInvest) to a consortium comprising Blackstone and Colony IM. The transaction, valued at up to 975 million euros, is expected to take place in the third quarter of 2026.
Complete Divestiture
Accor is divesting its entire 30.56% stake in Essendi to a consortium formed by Blackstone and Colony IM. The amount totals 975 million euros, structured in two parts: 675 million euros upon completion of the transaction, supplemented by an earn-out that could reach 300 million euros. This divestiture follows the announcements made on December 17, 2025, and February 19, 2026.
Strategic Portfolio Conversion
According to the memorandum of understanding, Essendi's property portfolio will gradually be converted into hotels operated under franchise agreements, aligning with the group's strategy to simplify and strengthen the solidity and predictability of its business model. All hotels will remain under the Accor brands, with franchise contracts extended to 20 years of maturity.
Share Buyback Program
Accor has announced its intention to allocate the bulk of the proceeds from the sale to a share buyback program amounting to 500 million euros. The completion of the transaction is subject to the finalization of the shareholders' agreement between Blackstone and other shareholders of Essendi, as well as customary regulatory and competition approvals. Accor noted that the transaction is in line with the EBITDA trajectory presented at the Capital Markets Day on June 27, 2023. The group has also launched the first tranche of 225 million euros of the share buyback program for the fiscal year 2026.
