AccorHotels acquisition boosts private rental portfolio

AccorHotels is continuing its expansion-through-acquisition strategy with a bid to purchase 100% of Travel Keys, one of the leading players in the vacation rental market.  

European hotel group said that “exclusive negotiations” are underway for it to take complete control of US-based Travel Keys, which features a collection of more than 5,000 luxury villas across worldwide, with a strong focus on the US, Caribbean and Mexico.

Travel Keys will be combined with onefinestay and Squarebreak, both of which were acquired by AccorHotels in 2016, to create a global portfolio of 8,500 properties in the luxury private rental market. The transaction is expected to close in the second quarter of 2017.

“We are extremely pleased to have [Travel Keys CEO] Bobby Gibson and his team join the AccorHotels family. They have built a very robust business over the years that will be instrumental in our strategy to create the number one luxury private rental player in the world,” said Sebastien Bazin, chairman & CEO of AccorHotels. “This acquisition further demonstrates our agility and dynamic approach to offer comprehensive services to our clients.”

Travel Keys’ Gibson commented; “We feel a strong link with the AccorHotels’ teams, and share in the vision of both Sebastien Bazin and the private rental leaders at AccorHotels about the future of our industry. We are very enthusiastic about this partnership, writing a new and exciting chapter of Travel Keys’ story.”

This acquisition marks the latest phase of AccorHotels’ strategy of expanding in traditional and alternative accommodation sectors through equity investments. The company recently took a stake in Banyan Tree and completed a US$2.7 billion purchase of the company that operates the Fairmont, Raffles and Swissotel brands.

It has also either fully acquired or taken stakes in companies including John Paul, onefinestay, Oasis Collections and Squarebreak.