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Accorhotels buy will speed Onefinestay expansion
MICE News
Tuesday, 05 April 2016
AccorHotels is acquiring Airbnb rival Onefinestay for about GBP117 million and will make a GBP50 million investment in the company.
Onefinestay is a London, UK-based startup that provides an upmarket homestay service and makes about 50 per cent gross margins. It operates in four cities — London, Paris, New York and Los Angeles and will remain an independent company. Co-founder and ceo Greg Marsh has pledged the business will continue to be led by the current founders and management team.
It will however expand. The plan is to go from four to 40 cities over the next five years. Rome is launching in June, but the company also plans to open in Asia.
AccorHotels is acquiring Airbnb rival Onefinestay for about GBP117 million and will make a GBP50 million investment in the company.
Onefinestay is a London, UK-based startup that provides an upmarket homestay service and makes about 50 per cent gross margins. It operates in four cities — London, Paris, New York and Los Angeles and will remain an independent company. Co-founder and ceo Greg Marsh has pledged the business will continue to be led by the current founders and management team.
It will however expand. The plan is to go from four to 40 cities over the next five years. Rome is launching in June, but the company also plans to open in Asia.
