ACCORHOTELS is in talks to buy 100 percent of Travel Keys, the luxury private rental platform based in Atlanta.
According to Financial Review, this is the third acquisition in the luxury market by Accor in less than a year after it paid US$168 million for London-based start-up Onefinestay in April last year. Accor also owns Squarebreak, a disruptor operator of hotel homes in France.
Sebastien Bazin, chairman and chief executive of AccorHotels, said, “Travel Keys brings an impressive portfolio of premium properties to our existing activities. This acquisition further demonstrates our agility and dynamic approach to offer comprehensive services to our clients.”
Meanwhile, Bobby Gibson, CEO of Travel Keys, said, “We are very enthusiastic about this partnership, writing a new and exciting chapter of Travel Keys’ story.
“We cater to extremely demanding hosts who find their unique assets mismatched to the mass market offerings found in emerging peer to peer marketplaces.”
Travel Keys was founded in 1991 and manages more than 5,000 luxury villas and resorts in Asia, Europe, Africa, the US and the Caribbean. The company also offers vacation planning and concierge services.
In the meantime, Accor announced a partnership with Qatar Airways that will give loyalty program members additional benefits.
Members of Privilege Club, Qatar Airways’ loyalty program, can now convert their Qmiles into Le Club AccorHotels points at the conversion rate of 4,500 Qmiles for 1,000 LCAH points.