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AccorHotels buys luxury home rentals company
Published Wed, Apr 6, 2016 · 09:50 PM
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Paris
ACCORHOTELS, Europe's largest hotel group, said on Tuesday it bought British high-end serviced home rental company onefinestay as it fights the rising challenge of online home-sharing company Airbnb and booking websites like Expedia.
The world's fifth-largest hotel group, undergoing a reorganisation initiated by chief executive Sebastien Bazin, said it paid 148 million euros (S$228 milion) for onefinestay and pledged to invest a further 64 million euros to help the company grow worldwide.
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