Accor sale of Ennismore share reflects luxury sector hope

Accor plans to sell a Qatari consortium 10.8% of its stake in a joint luxury hotel venture that the French-owned hotel giant values at more than $2 billion. The move by Accor involving Ennismore, formed in partnership with the Hoxton boutique hotel chain, is viewed as a vote of confidence in upscale hospitality despite economic turbulence.