Accor Finalises Sale of 30.7% Essendi Stake
Accor completed the sale of its 30.7% stake in Essendi, advancing its shift to an asset-light hotel operator model. A consortium will take over the property-owning vehicle holding international hotels operated under Accor brands. Accor plans to return most proceeds to shareholders and launch a EUR500 million share buyback, alongside previously announced buybacks, with new agreements averaging 20-year terms.