Ennismore, the luxury lifestyle hotel company backed by France’s Accor, is seeking to raise capital for expansion in the U.S. and is talking to potential strategic partners, according to Bloomberg News.
The operator of The Hoxton and Mama Shelter hotel chains aims to raise new money that could value it at about $3 billion or more. Ennismore is seeking to raise several hundred million dollars but deliberations are in the early stages and no final decisions have been made, reports Bloomberg.
Ennismore, founded in 2011 by Sharan Pasricha, operates 17 brands and 139 hotels, according to Accor’s website, with about 100 projects in the pipeline. Its other hotel chains include Mondrian, Delano, Hyde and the Rixos resort in Turkey. Large investors have been keen to expand in luxury lifestyle hospitality as demand rises from wealthy clients after the pandemic.