Accor’s joint venture with Ennismore is now complete, creating the world’s largest and fastest growing lifestyle hospitality company, the company reports. Owned by Accor and Ennismore’s founder Sharan Pasricha, the new asset-light autonomous entity will keep the Ennismore name and bring together a portfolio of global brands.
The Ennismore portfolio consists of 14 global hotel and coworking brands, as well as a diverse collection of restaurants & bars, including 21C Museum Hotels, 25hours, Delano, Gleneagles, Hyde, JO&JOE, Mama Shelter, Mondrian, Morgans Originals, SLS, SO/, The Hoxton, TRIBE and Working From_. These represent 87 operating properties (141 in the pipeline) along with more than 150 restaurants and nightlife destinations.
Ennismore brings together a global portfolio of entrepreneurial and founder-built brands with creativity and purpose at their heart, and will capitalize on Accor’s wealth of knowledge in delivering scale, network growth and distribution, according to the companies. For hotel owners and guests, this provides a wide range of products, brands and authentic experiences, with development opportunities in new and existing markets.
“It’s a very exciting day and the start of a new chapter for Ennismore as we become the largest and fastest growing lifestyle hospitality company,” said Sharan Pasricha, founder/co-CEO, Ennismore. “I couldn’t be more excited to bring together our unrivalled portfolio of brands in this new entity, and share the reins with my longtime friend and now co-CEO, Gaurav [Bhushan].”
Bhushan added, “This joint venture has been months in the making and I couldn’t be happier to join Ennismore as co-CEO alongside Sharan. Our teams are ready and eager to build on each of our unique lifestyle brands, with a dynamic global pipeline, creating an ecosystem of memorable and curated experiences across all our properties.”