Renting $2 Million Hamptons Homes Just Got EasierBy
Long Island rentals will be available through onefinestay
Unit is expanding into Southern California, French Riviera
Accor SA, Europe’s biggest hotel operator, is expanding its luxury vacation-rental offering with listings in the Hamptons, Wall Street’s summer playground.
The Long Island rentals cost as much as $2 million for the season and are the first launches in the Collections portfolio of Accor’s onefinestay unit, according to a company statement. More sites will be added over the next year as onefinestay expands beyond a handful of global cities into locations including Southern California and the French Riviera.
Luxury rentals are a key growth area for the vacation market, which has seen online home-sharing companies muscle in on traditional lodging providers. Airbnb Inc. is said to be expanding in the high-end market, too, with talks underway for it to buy Montreal-based Luxury Retreats International Inc.
Accor itself said this month it’s in negotiations to buy Travel Keys, a broker of private luxury villas in locations including the U.S., the Caribbean and Mexico. The French company acquired onefinestay last April in a deal worth $240 million -- $170 million plus a further commitment of $70 million for the unit to expand internationally.
For its Hamptons Collection, onefinestay is teaming up with Bespoke Real Estate, a broker of properties valued at $10 million and up, to find more than 20 homes. In the statement, the Accor unit described the project as its “first truly vacation-centric market.”