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Bloomberg
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 US, 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.