AccorHotels, a leading global hotel operator, has announced the acquisition of onefinestay, a high-end vacation rental company specializing in luxury serviced home rentals worldwide, for €148M (approximately $169 million) and made a further commitment of €64m (approximately $73 million) to help the company expand internationally.
Sébastien Bazin, Chairman & CEO of AccorHotels said: "onefinestay has successfully captured a sweet spot: a combination of needs that neither traditional hotels nor new actors of the sharing economy can meet. With the acquisition of this exceptional brand, unique operating model and outstanding management team, AccorHotels is developing as the worldwide leader of the Serviced Homes market. Today, together with our recent investments, we are accelerating the transformation of our business model to capture the value creation linked to the rise of private rentals and also strengthening our presence in the luxury market with a complementary offer."
onefinestay is the leading brand in the luxury segment of the Serviced Homes market, combining the best homes and the finest service. Leisure and business guests stay in hand-picked, distinctive private homes with personalized service and a team on call 24/7. For homeowners, onefinestay provides peace of mind, convenience and flexibility by taking care of everything from marketing, distribution and insurance to screening each guest, to professional cleaning, management and maintenance.