AccorHotels announced the acquisition of Onefinestay for €148m and made a further commitment of €64m to help the company scale up internationally. Onefinestay will remain an independent business unit within the AccorHotels Group and will continue to be led by Greg Marsh. The hotel chain operates a portfolio of 2,600 properties under exclusive management with strategic locations in London, New York, Paris, Los Angeles and Rome.
The deal comes on the back of the French hotel group’s taking equity positions in Oasis Collections (30 percent) and Squarebreak (49 percent), and is happening at a time when the private accommodation market is hotting up with brands such asBooking.com, TripAdvisor and Expedia making a big play in the sector that has so far been dominated by Airbnb. Out of more than 870,000 accommodation listed on Booking.com, more than 400,000 are classified as vacation rentals. With Onefinestay, founded by the Greek Demetrios Zoppos, leisure and business guests stay in private, distinctive private homes and are offered personalized service.
