Exclusive Resorts, a luxury travel brand, and Accor have reached a strategic partnership agreement to acquire a significant stake in OneFineStay, Accor’s luxury vacation rental brand.
Exclusive Resorts Chairman Steve Case exclusively told Skift that “OneFineStay” will be the driving force behind our villa rental strategy. OneFineStay is the anchor of our luxury villa rental company.
The financial terms of the transaction were not disclosed. Exclusive Resorts said to Skift that it would be taking “a substantial (not majority interest)” in OneFineStay.
Exclusive Resorts now has a “minority interest” in a high-end rental service.
Accor bought OneFineStay from OneFineStay, a luxury alternative accommodation company in 2016, for $168 million. They bet on the increasing demand for luxurious alternatives. But it was forced to write down an unknown amount
