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Accor Buys Onefinestay to Expand in Luxury Serviced-Homes

  • London startup will get 64 million euros to fund expansion
  • Luxury home-sharing CEO dismisses looming threat from Airbnb
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Accor SA, Europe’s biggest hotel operator, agreed to buy Onefinestay for 148 million euros ($168 million) to confront competition in the online, sharing economy and expand in the high-end market.

Accor plans to invest an additional 64 million euros to increase the London-based startup’s presence internationally, it said in a statement Tuesday. Onefinestay, which will remain an independent unit within Accor, provides high-end homes for rent Airbnb-style, combined with hotel-like services for the proprietor and guests.