AccorHotels has acquired onefinestay, a high-end hospitality pioneer specializing in luxury serviced home rental in key worldwide gateways, for €148m and has made a further commitment of €64m to help the company scale internationally.
onefinestay is the leading brand in the luxury segment of the serviced homes market. Leisure and business guests stay in hand-picked private homes with made-to-measure service from a personal welcome on arrival to a team on call 24/7. onefinestay provides convenience and flexibility by taking care of everything from marketing, distribution and insurance to screening each guest, to professional cleaning, management and maintenance.
Launched in 2010 in London by Greg Marsh (CEO and co-founder), Demetrios Zoppos, Tim Davey and Evan Frank (co-founders), the company today operates a portfolio of 2,600 properties under management with locations in London, New York, Paris, Los Angeles and Rome, representing an estimated asset value of more than £4bn (€5bn).
onefinestay will remain an independent business unit within the AccorHotels Group and will continue to be led by Greg Marsh and the key management team.
Sébastien Bazin, chairman and 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”.
Greg Marsh, co-founder and CEO of onefinestay said: “AccorHotels’ investment in onefinestay is a tremendous invitation for us to write the next chapter in our story. We share their deeply held conviction about the scale of the home rental opportunity, and greatly value their expertise, their practical & financial support as we plan the launch of more than 40 new markets over the next five years. With AccorHotels’ help, onefinestay will become a globally recognized byword for exceptional experiences, extraordinary service, and handmade hospitality.”
