Accor signs MoU to divest Essendi stake

Building on announcements from late 2025 and early 2026, Accor and Blackstone have formally signed a MoU for the sale of Accor’s 30.56% interest in Essendi (formerly known as AccorInvest).

Accor

Accor will sell its entire stake to a consortium led by Blackstone and Colony IM for a total consideration of up to €975 mln. Of this amount, €675 mln is payable upon the deal's closing, with an additional earn-out of up to €300 mln.

Upon successful completion, Accor intends to return the majority of the proceeds to its shareholders via a €500 mln share buyback programme.

A central component of the agreement is the transition of Essendi’s hotel portfolio into a franchise-based model.

All properties will remain under Accor brands, while new franchise agreements will be established for an extended 20-year term.

This move aligns with Accor’s broader strategy to simplify its operations and enhance the predictability of its recurring EBITDA, consistent with targets set during its 2023 Capital Markets Day.

The deal is expected to conclude in the third quarter of 2026, pending the finalisation of shareholder agreements between Blackstone and other Essendi stakeholders and standard regulatory and antitrust clearances.