AccorHotels, a leading global hotel operator, today announces the acquisition of onefinestay, a high- end hospitality pioneer specialising in luxury serviced Home rental in key worldwide gateways, for £117m, and makes a further commitment of £50m to help the company scale internationally.
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 made-to-measure, personal service from a personal welcome on arrival to 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.
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 exclusive management with strategic locations in London, New York, Paris, Los Angeles and Rome (representing an estimated asset value of more than £4bn).
With its global presence and strong expertise in both operations and digital services, AccorHotels will support a new development phase of onefinestay, accelerating its expansion across new key urban markets, providing it with its powerful distribution capacity, strong customer base, incremental synergies and its know-how as a world-leading hotelier.
As a result, onefinestay has an ambitious strategy to expand to 40 new cities around the world over the next five years growing revenues tenfold.
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.