AccorHotels has consolidated its Travel Keys, Squarebreak brands under its onefinestay brand, a move which will take effect before the end of the year.
The integration of the three hospitality brands will allow guests access to over 10,000 rental homes worldwide, combined with hospitality and concierge services. This places the brand in a renewed position to combat disruptors of the hospitality industry such as Airbnb.
The new portfolio will be helmed by Javier Cedillo-Espin, who has been appointed CEO of onefinestay. In his new role, Cedillo-Espin will head up the grouping of the three brands collaboratively with a team of executives from onefinestay, Travel Keys and Squarebreak. Prior to the move, Cedillo-Espin was AccorHotels' global integration officer.
According to the organisation, the move signposts the finalisation of its full acquisition of Squarebreak. Before that, AccorHotels owned a 49% share of the villa rentals company. Meanwhile, AccorHotels acquired Travel Keys earlier this year and onefinestay in 2016.
“With this new step in consolidating our leadership position, onefinestay now has a sound platform combining brand excellence, a vast and complementary offer and distribution efficiency. We are hugely excited about the global development potential for our network. Our guests are always asking for more places where they can enjoy our professional hospitality and concierge experience and the integration of these three innovative brands is the answer," Cedillo-Espin said.
In December 2016, AccorHotels made an initial investment of SG$24 million into Banyan Tree in a partnership which will see both hospitality brands collaborating to develop and manage Banyan Tree’s branded hotels globally. The deal gives AccorHotels a 5% stake in Banyan Tree, with an option to purchase an additional approximate 5% stake.
In January this year, the hotels brand also entered a media and content partnership with Fox Networks Group Asia for the Asia Pacific market. This is for the year 2017, and will include markets such as Hong Kong, Malaysia, Brunei, Philippines, Indonesia, Thailand, Vietnam, Cambodia, PNG, Myanmar, Macau, Mongolia, India, China, Australia and New Zealand.
Meanwhile in Malaysia, AccorHotels revealed plans to launch three hotels in Peninsular Malaysia and Sabah this year. In a statement to Bernama, Garth Simmons, COO, Malaysia-Indonesia-Singapore at AccorHotels explained that the new hotels would be located in Kota Kinabalu, Taiping and Kuala Lumpur.