AccorHotels invests in alternative accommodations
Buys sizeable stake in two companies...
AccorHotels has made a move into the alternative accommodation sector, with the acquisition of equity stakes in two companies. The European hotel giant has taken a 30% stake in Oasis Collections, which pioneered the “home meets hotel” accommodation concept, and a 49% stake in Squarebreak, a French start-up that offers upscale private property bookings.
Oasis Collections was launched in Buenos Aires 2009 and now offers 1,500 properties in 18 destinations across Latin America, the US and Europe. Serving both corporate and leisure clients, it offers private rentals with the services and amenities of hotels, such as concierge service and access to members’ clubs.
“Oasis Collections allows us to explore new complementary offer to upscale hotels,” explained Vivek Badrinath, AccorHotels' deputy chief officer for marketing, digital, distribution & information systems. “We are delighted to work with young talents who share our hospitality and digital culture.”
Squarebreak was founded in France in 2013 and provides a digital platform through which guests can book private upscale properties in resort locations, primarily in France, Spain and Morocco.
Commenting on this acquisition, Badrinath said; “With this investment, AccorHotels is positioning itself to better understand the expectations of guests in a sector where the stay experience and the quality of service are particularly important.
“In partnership with innovative players, AccorHotels continues to forge ahead along the path of changing and new behaviours in hospitality and travel.”
These are the latest in a series of acquisitions for AccorHotels. The company acquired Australia's Mirvac in 2011 and took a 35% stake in French boutique hotel chain Mama Shelter in 2014. And late last year, the company sealed a major US$2.9 billion deal for FRHI, the company that operates Fairmont, Raffles and Swissotel.