A decision on whether to take Ennismore public will come by the end of the third quarter, Accor chairman and CEO Sébastien Bazin said Thursday, adding that whatever form a listing takes, Accor will not drop below 51% ownership of the lifestyle joint venture.
“The decision has not been made, and what I can actually confirm to you, which is very, very true, is there is no scenario in which Accor will go underneath 51% of Ennismore,” Bazin said on the company’s half-year earnings call.
By keeping above 51%, Accor consolidates Ennismore’s full results into its own accounts. Drop below that threshold and Accor would book only its proportional share of profits. That would shrink Accor’s reported earnings.
“If we were to d