France: AccorHotels will merge its Onefinestay, Squarebreak and Travel Keys services under the Onefinestay brand by the end of the year.
The move comes as Accor looks to simplify and expand its vacation-rental operations to better compete against the likes of Airbnb.
Javier Cedillo-Espin will be Onefinestay’s CEO. he said: “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.”
Accor, which owns Onefinestay and Travel Keys outright, will acquire the remaining 51 per cent of Squarebreak, the French home rental company, for an undisclosed amount. It plans to to generate 30 per cent of its revenue in the medium term from new businesses, such as concierge services or home rentals.</p
