The deal amounted to €148M (£117M) with a further commitment of €64m (£50m) to support the company in scaling internationally, accelerating its expansion across new key urban markets, providing it with its distribution capacity, customer base, synergies and its know-how as a world-leading hotelier. As a result, onefinestay aims to expand to 40 new cities around the world over the next five years growing revenues tenfold.
Launched in 2010 in London by Greg Marsh (CEO and co-founder), Demetrios Zoppos, Tim Davey and Evan Frank (co-founders), onefinestay is a brand in the luxury segment of the Serviced Homes market, combining highend homes and fine service with leisure and business guests staying in hand-picked distinctive private homes with customized service from a personal welcome on arrival to a team on call 24/7. For homeowners, onefinestay takes care of everything from marketing, distribution and insurance to screening each guest, to professional cleaning, management and maintenance.
The company today operates a portfolio of 2,600 properties under exclusive management with strategic locations in London, New York, Paris, Los Angeles and Rome (representing an estimated asset value of more than £4bn).
Following the deal, onefinestay will remain an independent business unit within the AccorHotels Group and will continue to be led by Greg Marsh and the key management team.