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

Accor will sell its 30.56% Essendi stake to Blackstone-Colony consortium for up to €975M, converting portfolio to 20-year franchise deals.

Accor, Essendi (formerly Accor Invest) and Blackstone
Accor signs a memorandum of understanding on the sale of its stake in Essendi

Photo by Accor

Following the press releases issued on December 17, 2025, and February 19, 2026, Accor and Blackstone announce that they have signed, today, a memorandum of understanding regarding the sale of Accor's 30.56% stake in Essendi (formerly AccorInvest), on the following terms:

  • The disposal of Accor's entire stake to a consortium comprised of Blackstone and Colony IM for a consideration of up to €975 million, including €675 million to be received upon closing of the transaction and an earn-out of up to 300 million euros;

  • The gradual conversion of Essendi's hotel portfolio into franchise contracts, in line with the Group's strategy to simplify and further strengthen the resilience and predictability of its business model. All hotels in the portfolio would remain under Accor brands and the new franchise agreements would have an extended duration of 20 years. Accor confirms that the transaction would be consistent with the recurring EBITDA trajectory presented at the Capital Markets Day on June 27, 2023.

The transaction would close in the third quarter of 2026, subject to the finalization of the shareholders' agreement between Blackstone and the other Essendi shareholders and to the usual regulatory and antitrust approvals. If the transaction is completed, Accor would return most of the disposal proceeds to shareholders through an additional €500 million share buyback program.

This press release discloses the insider information pursuant to the transaction and enables Accor to immediately launch a first tranche of €225 million of the share buyback program for fiscal year 2026 announced on February 19, 2026.

Media Contact

Pierre-Loup Etienne

SVP Investor Relations and Financial Communications [email protected]

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Accor
Hotel GroupManagement CompanyFranchise OrganizationBrand Owner

Accor is a world-leading hospitality group offering stays and experiences across more than 110 countries with over 5,600 hotels and resorts, 10,000 bars & restaurants, wellness facilities and flexible workspaces. The Group has one of the industry's most diverse hospitality ecosystems, encompassing around 45 hotel brands from luxury to economy, as well as Lifestyle with Ennismore.

Essendi (formerly Accor Invest)
Management CompanyInvestment Company

At Essendi, we do more than operate hotels: we create the dynamics that make them thrive. As a European leader in the economy and midscale segments, we invest and operate with a single ambition: to transform each asset into a sustainable, vibrant, and meaningful place. We combine asset management and operational excellence to unlock the unique potential of every hotel.

Blackstone
Investment Company

Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US $336 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, data centers, residential, office and hospitality.