AccorHotels has made big moves in the “ home-meets-hotel ” category – acquiring Onefinestay and taking a 49 % stake in Squarebreak and a 30 % stake in Oasis Collections .

It ’ s committing € 64 million ( US $ 73 million ) on top of the € 148 million ( US $ 168 million ) purchase of Onefinestay , which operates 2,600 properties in London , New York ,

Paris , Los Angeles and Rome . HOTELS asked AccorHotels CEO Sébastien Bazin about his rationale for the acquisitions .

HOTELS : WHy THE LOvE affair WiTH privaTE HOmE rEnTaL ? Sébastien Bazin : We believe the hospitality industry is going through a profound transformation and that serviced homes will be a growing part of the larger hospitality business in the midterm . Onefinestay has successfully captured a sweet spot : a combination

of needs that neither traditional hotels nor new actors of the sharing economy can meet .

Today , together with our recent investments in Oasis and Squarebreak , 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 .

H : iS THiS a Way TO THrEaTEn airBnB ’ S dOminancE ?

SB : Onefinestay ’ s business model is substantially different from Airbnb ’ s and has much more in common with the traditional luxury hotel operation . Our handmade hospitality service is driven by local teams on the ground who look after our homeowners , homes and guests with personal care and attention .

We position ourselves to better understand the expectations of guests in a sector where the stay experience and the quality of service are particularly important . — RH

PASSION FOR HOSPITALITY