AccorHotels acquired Onefinestay, a luxury home rental
business, for €148 million, the company announced on Tuesday. The acquisition
comes on the heels of Accor's investments
in Europe-based vacation rental platforms Squarebreak and Oasis Collections.
Founded in 2010, Onefinestay has more than 2,600
properties in its portfolio in such markets as New York, London, Paris, Los
Angeles and Rome. Under the terms of the acquisition, Onefinestay will remain
an independent business unit within Accor, and Accor will commit €64 million to
help Onefinestay scale to 40 new markets around the world during the next five
years.