As part of its simplification and asset-light strategy, and with the ambition of accelerating its momentum in the fast-growing Lifestyle hospitality sector, Accor today announces the signing of binding agreements on a new sbe Group's ownership structure.

Under the terms of these agreements, Accor is taking full ownership of sbe's Hotel asset light business including the Delano, Mondrian, SLS, and Hyde hotel brands along with most of sbe's Food & Beverage brands including Cleo, Fili'a or Carna by Dario Cecchini.

These brands will be at the heart of Accor's newly created global Lifestyle platform (see separate release on Accor's Lifestyle Platform). Sbe currently operates 22 hotels, with more than 40 properties in the pipeline, which has more than doubled since Accor's initial investment in sbe in 2018, with keyupcoming openings Eldridge, a holding company with a unique network of businesses across finance, technology, real estate, and entertainment, is acquiring sbe's two remaining assets: the Hudson Hotel in New York and Delano in Miami.such as Mondrian London and SLS Dubai in 2021.

Eldridge, a holding company with a unique network of businesses across finance, technology, real estate, and entertainment, is acquiring sbe's two remaining assets: the Hudson Hotel in New York and Delano in Miami.

In parallel, Sam Nazarian takes full ownership of sbe's Disruptive Restaurant Group Platform (DRG) and its 15 owned restaurant and nightlife venues along with an increased majority ownership of C3, a leading player in digital kitchens and lifestyle food halls business.

This cash and asset swap transaction entails a $300 million cash investment from Accor almost entirely through the redemption of sbe's debt.

About Accor, a world-leading hospitality group

Accor is a world leading hospitality group consisting of more than 5,300 properties and 10,000 food and beverage venues throughout 110 countries. The group has one of the industry's most diverse and fully-integrated hospitality ecosystems encompassing more than 40 luxury, premium, midscale and economy hotel brands, entertainment and nightlife venues, restaurants and bars, branded private residences, shared accommodation properties, concierge services, co-working spaces and more. Accor's unmatched position in lifestyle hospitality – one of the fastest growing categories in the industry – is led by Ennismore, a joint venture, which Accor holds a majority shareholding. Ennismore is a creative hospitality company with a global collective of entrepreneurial and founder-built brands with purpose at their heart. Accor boasts an unrivalled portfolio of distinctive brands and more than 260,000 team members worldwide. Members benefit from the company's comprehensive loyalty program – ALL - Accor Live Limitless – a daily lifestyle companion that provides access to a wide variety of rewards, services and experiences. Through its Planet 21 – Acting Here, Accor Solidarity, RiiSE and ALL Heartist Fund initiatives, the Group is focused on driving positive action through business ethics, responsible tourism, environmental sustainability, community engagement, diversity and inclusivity. Founded in 1967, Accor SA is headquartered in France and publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACCYY) in the United States. For more information visit group.accor.com, or follow Accor on Twitter, Facebook, LinkedIn, and Instagram.

Nicole Lierheimer
+1 (417) 816-1915
Accor

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