Accor Sells Essendi Stake for €975M, Kempinski Makes First Acquisition in 50+ Years
Thursday revealed significant ownership restructuring signaling strategic shifts toward asset-light models and selective acquisitions. Accor will sell its 30.56% Essendi stake to Blackstone-Colony consortium for up to €975M, converting portfolio to 20-year franchise deals. Meanwhile, Kempinski acquired Augustine Hotel Prague marking the company's first acquisition in over 50 years, housed in an 800-year-old monastery.