AccorHotels has acquired Onefinestay, the London-based accommodations service specializing in renting out upscale homes, for 148 million euros (about $169 million).

In Onefinestay, Accor is acquiring a company with an inventory of about 2,600 homes in London, New York, Paris, Los Angeles and Rome. With Accor as its parent, Onefinestay intends to add listings in 40 more cities within the next five years.

Onefinestay has tried to differentiate itself from competitors Airbnb and HomeAway, saying it provides  a “turnkey” experience for homeowners. The company handles reservations, payments and on-site guest requests. Plus, it provides items such as high-end linens, towels and toiletries for guests.

Founded in 2010, Onefinestay secured a $40 million funding round last year that included an investment for an undisclosed amount by Hyatt Hotels.

“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,” AccorHotels CEO Sebastien Bazin said in a statement.

Accor in February acquired Miami-based home-rentals service Oasis Collections while taking a 49% stake in Paris-based upscale-home lister Squarebreak.

Accor said last year that it was looking to triple the number of properties to more than 10,000 through its website by adding listings from outside its hotel brands.

Onefinestay last fall reached an agreement for travel agent members of Signature Travel Network to sell Onefinestay’s inventory. Onefinestay had previously reached a similar distribution deal with the Virtuoso agent network.


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