Short Term Rental Tax Loophole

Accor's strategic shift toward an asset-light model signals a potential future direction for other hospitality groups. The company is selling its ownership stake in hotels, retaining branding, and focusing on franchise agreements for long-term fee income. This move could influence how hosts consider their own asset ownership versus management models, offering new insights for hosts looking to optimize their STR strategy.

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.