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Accor’s 525-Page Filing Reveals Ennismore Is Driving Growth

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Accor’s 525-Page Filing Reveals Ennismore Is Driving Growth插图

Ennismore had another profitable year of growth in 2025, according to details buried in a 525-page annual registration statement for Accor, its controlling shareholder.

Ennismore, a lifestyle hospitality joint venture, generated EBITDA of €205 million (about $235 million) last year. (This was the first time the annual report disclosed the figure.) The venture was a significant driver of profitability at Accor, contributing about 17 percentage points of its EBITDA for the year.

Ennismore managed 36% of Accor’s luxury and lifestyle rooms worldwide, or about 48,948 rooms as of year-end. Its brands included 25hou

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