Accor signs binding deal to sell Essendi stake for up to €975m
Accor has signed a definitive binding agreement to sell its approximately 30.7% stake in hotel owner and operator Essendi (formerly AccorInvest) to a consortium comprising Blackstone and Colony IM. The total consideration is up to €975m ($1.1bn), including about €675m payable at closing and a possible earn-out of up to €300m. The deal, first disclosed via an MoU in April, involves converting Essendi's hotel portfolio into franchise contracts with an average term of 20 years, with all hotels continuing to operate under Accor brands. Accor stated the move aligns with its strategy to simplify and strengthen its business model. Completion is expected in Q4 2026, subject to regulatory approvals. Accor plans to return most proceeds to shareholders via an additional €500m share buyback program.
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