Strategy

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

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.