Accor

Accor

Accor to sell 10.8% stake in Ennismore to Qatari consortium for 185 million euros

French hotels group Accor is to sell a 10.8% stake in Ennismore to a Qatari consortium for 185 million euros ($195 million). This move is part of Accor's strategic plan to streamline its portfolio and focus on core assets. The deal is expected to strengthen Accor's financial position and allow them to invest in key growth areas.

The Qatari consortium's investment in Ennismore highlights the attractiveness of the hospitality sector to international investors. Accor's decision to sell a stake in Ennismore reflects their commitment to maximizing shareholder value and capitalizing on opportunities in the market. Overall, this transaction is a positive development for Accor and positions them well for future growth and success.