Accor venturing into long-term accommodations

Travel News 26 Feb 2016

AccorHotels continued on its path to transform its business, announcing that it has bought into two home-rental platforms, Oasis Collections and Squarebreak.

Miami-headquartered Oasis Collections sells itself as a "home meets hotel" accommodations provider, offering approximately 1,500 design-forward properties in 18 cities in Latin America, Europe and the United States. Accor acquired a 30 percent stake in the company. CEO Sebastien Bazin shared that Oasis Collections does a significant portion of business-to-business service and the average length of stay for an Oasis guest is 22 days, meaning Accor now has an offering that was previously unavailable.

The Paris-based Squarebreak platform, in which Accor acquired a 49 percent stake, features approximately 220 private upscale homes mostly in France, Spain and Morocco.

The investments into Squarebreak and Oasis come just months after Accor announced theacquisition of FRHI Hotels & Resorts, the parent company to the Fairmont, Raffles and Swissotel brands, a move Bazin said would give Accor tremendous strength in North America and the luxury segment. Last month, Accor finalized its strategic alliance with Huazhu Hotels Group to develop Accor's midprice and economy brands in China and to tie together the loyalty programs of the two companies.

Accor, too, transformed its digital platform in 2015; it acquired Paris-based marketing platform FastBooking in April, then leveraged that relationship to open as a marketplace for select independent hoteliers.