Accor SA has agreed to sell its 30.56% stake in Essendi to a consortium led by Blackstone Inc. for up to €975 million, marking a significant transaction in the hospitality sector.
- Accor to sell 30.56% stake in Essendi to Blackstone and Colony Investment Management for up to €975 million.
- Deal includes €675 million upfront payment and an earn-out of up to €300 million.
- Essendi’s portfolio will transition to franchise contracts as part of the agreement.
- Transaction reflects a strategic shift for Accor from real estate investment to franchising.
- Deal may influence investor sentiment in hotel REITs and luxury hospitality assets.
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