AccorHotels to acquire John Paul

Paris. Taking the spotlight from the Starwood and Marriott bidding drama which occupied international media for weeks now, AccorHotels announced last Tuesday it is acquiring the UK home rentals start-up Onefinestay for 148 million euros in cash and making a further commitment of 64 million euros to help the luxury serviced home rental provider scale internationally. AccorHotels wants to grow fast while building up a new international image for itself, adding a soupçon of fresh and innovative concepts, a dose of luxury and a handful of tech-savvy companies. For now, the shareholders seem to be following Sébastien Bazin in his quest. But his appetite for start-ups is expensive. And it's still an open question if they are all compatible with the group's core business and will generate a return.