AccorHotels, the leading hotel operator, has acquired onfinestay, the luxury home rental specialist. Accor is supporting an aggressive expansion of onefinestay into 40 new cities.
This is the latest example of an old world market leader buying a new world insurgent. We saw this same rationale when Royal Mail acquired NetDespatch.
The internet M&A market is changing. Previously, the internet leaders were always the highest value buyers. Now, in many cases, it is the old world players who have the most to lose and will pay the highest price to add capability. We expect to see many more of these types of deals in the future.
AccorHotels, a leading global hotel operator, today announces the acquisition of onefinestay, a high-end hospitality pioneer specializing in luxury serviced Home rental in key worldwide gateways, for €148M (£117M) and makes a further commitment of €64m (£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