French hotelier AccorHotels steps up efforts to counter the challenge of Airbnb & other online booking services like Expedia.
AccorHotels will re-group three of its luxuryhome-rental divisions under its ‘onefinestay‘ brand.
It would buy full control of Squarebreak, a French home rental company in which it has a 49% stake, for an undisclosed amount.
It would group the Travel Keys & Squarebreak units under the umbrella of the ‘onefinestay’ brand, allowing guests of ‘onefinestay’ to have access to over 10,000 rental spaces as well as hospitality & concierge services around the world.
AccorHotels which acquired Travel Keys & Squarebreak earlier in 2017 aims to generate 30% of its revenue from new businesses, like concierge services or home rentals & boost its presence in the luxury, private rentals market. The group had bought British loss-making company onefinestay in April 2016.