Accor completes Squarebreak acquisition ahead of onefinestay merger

Accor completes Squarebreak acquisition ahead of onefinestay merger

AccorHotels announced today the grouping of Travel Keys, Squarebreak and onefinestay with the intention to integrate the three companies under the onefinestay brand before the end of the year.

The announcement signifies the finalising of an agreement with the founders of Squarebreak for the acquisition of the entire share capital in the company.

AccorHotels had owned 49 per cent of this French company, a leader in villa rentals, since February 2016.

This transaction will be effective in the coming weeks.

AccorHotels acquired Travel Keys earlier this year and onefinestay in 2016.

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The integration of the three hospitality innovators means onefinestay guests will be able to experience over 10,000 of the world’s finest homes combined with worldwide professional hospitality and concierge services.

onefinestay will now span the world’s most desirable destinations in six continents – from metropolitan centres such as New York, LA, Rome and San Francisco to exotic island getaways in St Barts, and Bali, to Mediterranean escapes in France, Italy and Greece.

The portfolio will be placed under the responsibility of Javier Cedillo-Espin, who has been appointed chief executive of onefinestay to head up the grouping of the three brands collaboratively with a team of executives from onefinestay, Travel Keys and Squarebreak.

Cedillo-Espin commented: “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.

“We are hugely excited about the global development potential for our network.

“Our guests are always asking for more places where they can enjoy our professional hospitality and concierge experience and the integration of these three innovative brands is the answer.”

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Author:Breaking Travel News

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