Accor cements hold in villa market

PARIS, 8 August 2017: Travellers will soon be able to experience over 10,000 homes, villas and apartments combined with professional hospitality and concierge service, worldwide,  under a single brand onefinestay.

AccorHotels announced, last week, it was grouping Travel Keys, Squarebreak and onefinestay with the intention to integrate the three companies under a single onefinestay brand by the end of the year.

The announcement signifies the finalising of an agreement with the founders of Squarebreak for the acquisition of the entire share capital.

AccorHotels has owned 49% of this French company, a leader in villa rentals, since February 2016. This transaction will be effective in the coming weeks. AccorHotels acquired Travel Keys earlier this year and onefinestay in 2016.

The integration of the three hospitality innovators means onefinestay guests will be able to experience over 10,000 of the world’s finest homes combined with worldwide professional hospitality and concierge services.

It will cover destinations on six continents from metropolitan centres such as New York, LA, Rome and San Francisco to exotic island getaways in St Barts, and Bali, to Mediterranean escapes in France, Italy and Greece.

The portfolio will be placed under the responsibility of Javier Cedillo-Espin, who has been appointed chief executive officer of onefinestay to head up the grouping of the three brands collaboratively with a team of executives from onefinestay, Travel Keys and Squarebreak.

AccorHotels operates in 95 countries. Its portfolio comprises internationally acclaimed luxury brands including Raffles, Sofitel Legend, SO Sofitel, Sofitel, Fairmont, onefinestay, MGallery by Sofitel, Pullman and Swissôtel; the popular midscale and boutique brands of 25hours, Novotel, Mercure, Mama Shelter and Adagio; the much-prized economy brands including JO&JOE, ibis, ibis Styles, ibis budget and the regional brands Grand Mercure, The Sebel and hotelF1.