AccorHotels embraces sharing economy

Company to buy private vacation rental platform
AccorHotels’ investments in the sharing economy continue to expand, Skift writes, and as the only major global hotel company investing so directly in this way it is well positioned to adapt as the hotel sector changes.
The company says it has “begun exclusive negotiations” to buy all of Travel Keys, an Atlanta-based private vacation rental broker with more than 5,000 villas worldwide. The deal is expected to close in the coming months.
Together with its acquisition of onefinestay last year and investments in Squarebreak and Oasis, Accor’s sharing economy investments will now include 8,500 addresses in the luxury private rental market.
Chairman and CEO Sebastien Bazin described his company’s “strategy to create the number one luxury private rental player in the world. […] This acquisition further demonstrates our agility and dynamic approach to offer comprehensive services to our clients.”
Bazin has made many bold statements about the need for traditional hotel companies to expand into alternative accommodation, telling Skift last April: “It would be absolutely foolish and irresponsible to fight against any new concept, offer, or services like this, let alone fighting against the sharing economy. This is where the world is leading us. All of those new services are very powerful and very well implemented and executed. You need to embrace it.”


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