wellnessfitpro 
Accor said Wednesday it would sell its roughly 31% stake in Essendi, an owner and operator of many of its hotels, to Blackstone and Colony Investment Management for up to €975 million (about $1.1 billion).
As part of the deal, Essendi’s hotels will gradually convert to Accor franchise agreements.
The deal is the likely final chapter in the French hotel giant’s years-long retreat from owning hotel buildings.
Going truly “asset light” is the real prize, not the cash. Accor will lock in 20 years of fee income from these
Hotels,accor,asset sales,asset-light,blackstone,Blackstone Groupaccor,asset sales,asset-light,blackstone,Blackstone Group#Accors #Billion #Sale #BlackstoneLed #Group #Clears #Ennismore #IPO1775085008
