AccorHotels is integrating its home rental brands Onefinestay, Travel Keys and Squarebreak into a single business unit totaling more than 10,000 homes that will be consolidated within the Onefinestay brand before the end of the year, the company said.
Accor, which last year bought a 49% stake in Squarebreak, also finalized an agreement with founders to acquire the remaining share. The moves are the latest steps in a longer-term strategy to create a broader profit model and fight the likes of Airbnb on its own turf. The company acquired Travel Keys this year and Onefinestay last year.
The portfolio will be led by Javier Cedillo-Espin, named CEO of Onefinestay. “With this new step in consolidating our leadership position, onefinestay now has a sound platform combining brand excellence, a vast and complementary offer and distribution efficiency,” Cedillo-Espin said. “We are hugely excited about the global development potential for our network.”