Accor CEO Weighs Ennismore IPO and Funding for U.S. Growth

Accor CEO Sébastien Bazin said at Skift Global Forum in New York that Ennismore, its luxury-lifestyle joint venture, needs capital to grow in the U.S. and beyond, but the companies have not decided how to fund it. He called a listing a "very complex decision" with many drawbacks, and said another possibility is that Accor could put more money into it. Accor had given itself until the end of this month to announce a decision on its 62% stake in the joint venture, with analysts valuing Ennismore at $3.4 billion to $5.8 billion in a potential IPO.