Exclusive Resorts Takes Stake in Accor’s Onefinestay — Exclusive
Photo Credit: A kitchen at a luxury vacation rental on Lake Hollywood Drive in California via OneFineStay by Accor. OneFineStay
Skift Take
Exclusive Resorts is taking control of OneFineStay, which offers hand-picked luxury homes and personalized concierge services. That represents a strategic expansion of both brands' reach in the affluent traveler segment.
Exclusive Resorts, the luxury travel brand, has reached a strategic agreement with Accor to take "a controlling interest" in the French hotel giant's Onefinestay luxury vacation rental brand, the companies confirmed.
"Onefinestay will power our villa rental strategy," Exclusive Resorts Chairman Steve Case told Skift exclusively. "We're launching a luxury villa rental business, which Onefinestay will anchor."
Financial terms of the deal weren't disclosed. Under the terms of the deal, signed last week, Exclusive Resorts will assume operational control of the high-end home rental service.
Accor acquired Onefinestay in 2016 for $168 million, betting on the growing demand for luxury alternative accommodations.
Exclusive Resorts is majority-owned by Case, the AOL co-founder, via his Revolution Places investment vehicle.
Exclusive Resorts Seeks ExpansionExclusive Resorts operates a $1 billion portfolio of more than 400 private residen
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