Hotel chain acquires British Airbnb rival for £118m

Ibis owner AccorHotels has snapped up Onefinestay as the industry comes under pressure from new rivals.

by Jack Torrance

Travel tech is all the rage at the moment. Today Hostelworld, the Irish-based, London-listed travel booking site for backpackers, said total bookings through its core brand were up 15% last year after it revamped its website.

And there’s similarly good news for the British Airbnb rival Onefinestay, whose founders should be set for a hefty payout after the business was acquired by French hotel group AccorHotels for €148m (£118m).

Like its Silicon Valley counterpart, Onefinestay lets home owners rent out their property to travellers looking for a more interesting experience than a generic hotel room. But it’s particularly focused on the higher end of the market and offers a full cleaning, maintenance and insurance service to hosts. Accor has agreed to invest a further €64m to help the company scale.

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