Accor’s 525-Page Filing Reveals Ennismore Is Driving Growth
Summary
Accor's annual report reveals strong performance from its lifestyle hospitality joint venture, Ennismore, generating €205 million in EBITDA in 2025. Ennismore managed a significant portion of Accor's luxury and lifestyle rooms, demonstrating its impact on profitability. This success raises questions about continued growth after a potential IPO.
Key Insights
- •Ennismore generated EBITDA of €205 million (about $235 million) in 2025.
- •Ennismore managed 36% of Accor's luxury and lifestyle rooms worldwide, or about 48,948 rooms as of year-end.
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