National Geographic Traveller (UK)
BEYOND THE B&B: LUXURY HOMESTAYS
When two San Francisco housemates rented out a number of inflatable mattresses in their living room in 2007, they unwittingly transformed the travel industry. AirBedandBreakfast.com, which later became Airbnb, launched the following year — and the rest is history. For years, Airbnb remained true to that founding spirit, offering a way for travellers to find cheap digs and homeowners and renters to make a bit of cash on the side. Its growth, meanwhile, spawned a nowburgeoning market within a market: the luxury homestay.
In 2010, London businessman Greg Marsh launched Onefinestay, adding a layer of luxury to the homestay model by offering the owners of upmarket accommodation a guest-vetting and management service. It kicked off with just six spots in London and now lists more than 10,000 high-end homes available to rent around the world. The emphasis here is on high-end: a five-bedroom townhouse in New York’s Upper East Side, for instance, is listed at $4,400 (£3,429) a night.
Hotels and tourist boards have traditionally viewed homestays as a grave threat, but at the top end of the market, they’re now sleeping — very comfortably — with the enemy. New luxury hotels tend to include serviced apartment options and large multinational companies are buying straight into the model. In 2016, the ACCORHOTELS giant bought Onefinestay for more than $170m (£132m).
Other start-ups are following suit and wealthy homeowners are realising the potential in their properties. Sweet Inn, for example, a French-Israeli start-up launched in 2014, offers high-end apartment rental, with a local team on hand 24/7 to ensure smooth stays. London-based Plum Guide, meanwhile, raised £14m earlier this year with the aim of introducing its luxury homestay service to dozens more cities. As part of its service, Plum Guide deploys hospitality experts to road-test the properties on its books; its listings include a four-bedroom suite in a luxury Kensington development that can be yours for a mere £8,000 a night.
Perhaps late to adapt to the game it helped create, Airbnb quietly tested its own Luxe line in London earlier this year, two years after the company bought up Canadian startup Luxury Retreats, another high-end homestay player. It also unveiled Airbnb Plus last year, a vetted selection of high-design homes. The Luxe line promised ‘extraordinary homes with five-star everything’ and there are reportedly plans for expansion. Air mattresses are not included. onefinestay.com sweetinn.com plumguide.com airbnb.co.uk /plus SU