Fourteen lifestyle hotel brands are now part of the Ennismore hotel portfolio, with the company’s lifestyle joint venture and all-share merger now complete and in effect.
The move brings lifestyle brands in the hotel, restaurant and co-working sectors under the Ennismore roof, including 21C Museum Hotels, 25hours, Delano, Gleneagles, Hyde, Jo&Joe, Mama Shelter, Mondrian, Morgans Originals, SLS, SO/, The Hoxton, TRIBE and Working From_.
In all, the portfolio is made up of 87 operating properties and 141 in the pipeline, including the first 25hours Hotels’ property in Sydney due to open in Q1 2023 and Mondrian Gold Coast, opening in 2023.
Ennismore’s portfolio will be led by Founder and Co-CEO, Sharan Pasricha, who will be backed up by long-time Accor executive, Gaurav Bhushan, as fellow Co-CEO. Pasricha said the completion of the tie-up with Accor was an exciting day.
Under the joint venture, initially announced last year, Accor will be the majority shareholder, with Pasricha holding a minority stake. Each Ennismore brand will retain its own operating independence along with brand identity, culture and performance criteria. Behind the scenes support will come from in-house designers working on interiors across the portfolio along with experts in technology, restaurants and bars to ensure a high-quality guest experience.
“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,” Pasricha said.
“I couldn’t be more excited to bring together our unrivalled portfolio of brands in this new entity and share the reins with my long-time friend and now co-CEO, Gaurav.”
Bhushan said the joint venture had been a long time in the making and he was excited at the potential the collaboration would yield.
“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.”
Several of the hotel brands which have shifted to the new Ennismore entity were only recently assumed by Accor following its full acquisition of the sbe Entertainment hotel brands under its asset-light strategy which included brands such as Delano, Mondrian, SLS and the Hyde restaurant label.