Accor signs a memorandum of understanding on the sale of its stake in Essendi

Accor and Blackstone announce that they have signed, a memorandum of understanding regarding the sale of Accor's 30.56% stake in Essendi.

Event Details
Date: 1 April 2026 Parties: Accor, Blackstone, Colony IM

Transaction Details:
- Accor to dispose of its 30.56% stake in Essendi (formerly AccorInvest).
- Consideration of up to €975 million:
- €675 million upon closing.
- Earn-out of up to €300 million.
- Essendi’s hotel portfolio to be gradually converted into franchise contracts under Accor brands, with extended 20-year agreements.
- Transaction expected to close in Q3 2026, subject to shareholder agreement finalization and regulatory approvals.

Strategic Impact:
- Aligns with Accor’s strategy to simplify operations and strengthen resilience and predictability of its business model.
- Consistent with recurring EBITDA trajectory presented at Capital Markets Day (June 2023).
- Proceeds to be returned to shareholders via an additional €500 million share buyback program.
- First tranche of €225 million buyback for FY2026 launched immediately.

About Accor:
Accor is a leading global hospitality group with 5,800 properties and 10,000 F&B venues across 110 countries, spanning over 45 brands from luxury to economy.

This move signals Accor’s continued shift toward an asset-light model, focusing on brand strength and long-term franchise agreements while rewarding shareholders.