Exclusive Resorts Takes Stake in Accor's OneFineStay — Exclusive
Exclusive Resorts, the luxury travel brand, has reached a strategic agreement with Accor to take a significant minority stake in the French hotel giant's OneFineStay luxury vacation rental brand, the companies confirmed.
"OneFineStay will power our villa rental strategy," Exclusive Resorts Chairman Steve Case told Skift exclusively. "We're launching a luxury villa rental business, which OneFineStay will anchor."
Financial terms of the deal weren't disclosed. Exclusive Resorts told Skift it was taking "a significant (not majority) interest" in OneFineStay.
The partnership, signed a week ago, gives Exclusive Resorts "a minority interest" in the high-end home rental service.
Accor acquired OneFineStay in 2016 for $168 million, betting on the growing demand for luxury alternative accommodations. But it had to take a writedown of an unpublicized amount
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