Accor has announced it is merging its lifestyle brands with London-based group Ennismore, owner of The Hoxton hotel chain.

The new entity, which will operate under Ennismore’s name, will be two-thirds owned by Accor and one-third owned by Ennismore’s founder Sharan Pasricha, following the cash-free merger.

It will operate ten of Accor’s lifestyle brands, including Mondrian, Delano and SLS (which Accor are acquiring full ownership of by increasing their stake in sbe from 50% to 100%), as well as Hoxton’s assets, which include nine hotels and Working From_, a shared workspace company.

The merged entity will focus heavily on driving F&B and entertainment and is reported to be co-CEO’ed by Pasricha and Accor’s Chief Development Officer, Gaurav Bhushan.

The group will launch with 73 hotels and 110 development sites, as well as over 150 restaurants and an enterprise value of a reported $1 billion.

Accor has reportedly spent around $500 million over the past few years acquiring ownership of its lifestyle brands, initially via stakes in Mama Shelter and 25hours.

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