Accor CEO Flags ‘Drawbacks’ of Possible Ennismore IPO
Accor CEO Sébastien Bazin wants Ennismore to help his group push into the U.S. market. But the companies haven’t decided how to pay for it yet.
Speaking onstage at Skift Global Forum in New York on Wednesday, Bazin said the luxury-lifestyle joint venture needs capital to grow in the U.S. and beyond.
“It’s a very complex decision to make,” he said. “Yes, we can be listed, but it has a lot of drawbacks to being listed.”
One possibility, he said, is that “Accor could put more money into it.”
Accor had given itself until the end of this month to announce a decision on its 62% stake in the joint venture. Analysts have valued Ennismore at $3.4 billion to $5.8 billion in a potential IPO.
“There’s only one ambition: Ennismore is so successful, double
