Accor signs a definitive binding agreement on the sale of its stake in Essendi

Accor announces that it has signed on July 23rd, 2026, a definitive binding agreement regarding the sale of its c.30.7% stake in Essendi (formerly AccorInvest), in line with the terms agreed in the memorandum of understanding:

Transaction Details
- Stake Sale: Accor is selling its 30.7% stake in Essendi to a consortium led by Blackstone and Colony IM.
- Valuation: Up to €975 million total consideration.
- €675 million payable at closing.
- Up to €300 million earn-out.
- Closing Timeline: Expected in Q4 2026, subject to regulatory and antitrust approvals.

Strategic Impact
- Franchise Conversion: Essendi’s hotel portfolio will gradually shift to franchise contracts under Accor brands.
- Average duration: 20 years.
- Supports Accor’s strategy to simplify operations and strengthen recurring revenue predictability.
- Financial Consistency: Transaction aligns with EBITDA trajectory presented at the Capital Markets Day (June 27, 2023).

Shareholder Returns
- Accor plans to return most proceeds via a €500 million share buyback program once the deal closes.

Broader Context
This move reflects Accor’s ongoing transformation into a pure asset-light hospitality group, focusing on brand management and franchising rather than direct ownership. It also underscores investor confidence in Essendi’s portfolio, with Blackstone and Colony IM stepping in as long-term partners.