In another move to cash in on the home-sharing trend, Paris-based AccorHotels is reportedly planning to unite three of its home-rental brands—Travel Keys, Squarebreak and Onefinestay—under the Onefinestay brand by the end of 2017.
The announcement follows AccorHotel’s full acquisition of French villa rental company Squarebreak earlier this year. The hotel group has owned 49 percent of Squarebreak since last February.
Integrating the three brands will put more than 10,000 accommodations under one umbrella, the company said in a statement, and will unify hospitality and concierge services for all properties.
The new Onefinestay will have rentals available in six continents, representing top destinations like New York, Los Angeles, Rome, San Francisco, St. Barts, Bali and Mediterranean escapes in France, Italy and Greece
Onefinestay’s new CEO Javier Cedillo-Espin has been tapped to head up the grouping of the three brands in collaboration with teams from each of Onefinestay, Travel Keys and Squarebreak.
The consolidation is just the latest step in AccorHotels' bid to beat Airbnb at its own game. AccorHotels CEO Sébastien Bazin has said in the past the company "made a mistake" when it passed up the chance to invest in Airbnb years ago. “We are accelerating the transformation of our business model to capture the value creation linked to the rise of private rentals and also strengthening our presence in the luxury market with a complementary offer,” he said in a statement when the Onefinestay acquisition was announced in 2016.