Accor’s Lifestyle Hospitality Joint Venture With Ennismore

Proskauer represented Accor in the transaction.

Accor, a world-leading hospitality group, completed the creation, structuring and implementation of its global joint venture with Ennismore. Accor completed  the process of combining 14 hotel and co-working brands, and a collection of over 150 culturally-relevant and diverse restaurants and nightlife destinations for the joint venture, including acquiring complete ownership of several brands, licensing and collaboration agreements and related financing and equity agreements.

The newly-established lifestyle entity, known as Ennismore, is one of the world’s largest and fastest-growing lifestyle hospitality companies, with 87 properties and an additional 141 hotels in the pipeline. Accor is the new company’s majority partner, with a 66.67% stake.

The Proskauer deal team was led by partner Jeff Horwitz (Picture), co-head of the Private Equity Real Estate Group and the Hospitality, Gaming & Leisure Group, and partner Yuval Tal, co-head of the Hospitality, Gaming & Leisure Group and head of the Firm’s Hong Kong and Beijing offices. It also included special counsel Tony Downes, partners Vikki McKay and Steven Davis, special antitrust and regulatory counsel Jade-Alexandra Fearns, and associates Laura Addicott, Jacqueline Ball, Matt Clift, Karim El Borhami, Jillian Ruben, Laura Sevenoaks, Catherine Bellhouse, Ayisha McHugh and Bradley Mycock and senior hospitality consultant Cynthia Cheng (Mergers & Acquisitions/ PERE); partners Stuart Rosow and Robert Gaut, special counsel Richard Miller, and associates Phillip Gilliland and Amy Zelcer (Tax); partner Michael Lebowich, special international labor and employment counsel Nicola Bartholomew, and associate Susan McAleavey (Labor and Employment); partner Steven Weinstein (Benefits); partner Ryan Blaney (Privacy); and partner Peter Sherwin (Litigation).

Involved fees earner: Laura Addicott – Proskauer Rose; Jacqueline Ball – Proskauer Rose; Nicola Bartholomew – Proskauer Rose; Catherine Bellhouse – Proskauer Rose; Ryan Blaney – Proskauer Rose; Matt Clift – Proskauer Rose; Steven Davis – Proskauer Rose; Tony Downes – Proskauer Rose; Karim El Borhami – Proskauer Rose; Jade-Alexandra Fearns – Proskauer Rose; Robert Gaut – Proskauer Rose; Phillip Gilliland – Proskauer Rose; Jeffrey Horwitz – Proskauer Rose; Michael Lebowich – Proskauer Rose; Susan McAleavey – Proskauer Rose; Ayisha McHugh – Proskauer Rose; Vikki McKay – Proskauer Rose; Richard Miller – Proskauer Rose; Bradley Mycock – Proskauer Rose; Stuart Rosow – Proskauer Rose; Jillian Ruben – Proskauer Rose; Laura Sevenoaks – Proskauer Rose; Peter Sherwin – Proskauer Rose; Yuval Tal – Proskauer Rose; Steven Weinstein – Proskauer Rose; Amy Zelcer – Proskauer Rose;

Law Firms: Proskauer Rose;

Clients: Accor SA;