Core Insights - Ennismore operates 192 hotels under various brands, including Delano, Mondrian, and The Hoxton, and has announced new Delano hotels in New York and London, appointing Ben Pundole as chief brand officer [3] - In 2024, Ennismore achieved a net unit growth of 17.6% and an EBITDA of €170 million, with Accor adding 17 hotels in the Americas, contributing 3,200 keys [3] - Accor opened 77 hotels in Q3 2025, adding 11,200 rooms, and reported a total portfolio of 5,760 hotels with 859,830 rooms and a pipeline of 1,453 hotels, equating to over 250,000 rooms [5][6] Financial Performance - Accor reported Q3 revenue of approximately €1.4 million (around $1.6 million), reflecting a 0.1% year-over-year increase, driven by a 1.1% decline in the Premium, Midscale, and Economy division and a 0.2% increase in the Luxury & Lifestyle division [7] - The overall RevPAR for Accor rose by 0.8% year-over-year in Q3, with the Premium, Midscale, and Economy division experiencing a 1.1% decrease, while the Americas region saw a 7.1% increase, particularly strong in Brazil [7] - The Luxury & Lifestyle division's RevPAR increased by 5% during the same period [7] Strategic Developments - Accor's Chairman and CEO indicated ongoing growth and development, emphasizing the appeal of its brands and geographical diversity, which have sustained momentum despite a mixed macroeconomic environment [6] - The company is exploring a potential IPO for Ennismore, which could enhance liquidity and flexibility for growth, while Accor would remain the controlling shareholder post-IPO [4][7]