AccorHotels has begun “exclusive negotiations” for the acquisition of 100% of Travel Keys, a leading player in the private vacation rental market founded in 1991.
According to a statement from AccorHotels, the rental platform is “an elite travel broker representing a luxury collection of over 5,000 highly curated villas across more than 100 destinations across the Caribbean, Mexico, Hawaii and the United States, Europe, Asia and Africa, offering professional vacation planning and 24/7 concierge services.”
AccorHotels said that by combing Travel Keys with onefinestay, whose acquisition was completed last year, and Squarebreak it can offer about 8,500 addresses in the luxury private rental market.
A villa in Turks and Caicos, one of the properties under Travel Keys
Sebastien Bazin, chairman & CEO of AccorHotels said: “They (Travel Keys) 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.
“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.”
Bobby Gibson, CEO of Travel Keys, in expressing his enthusiasm for the new partnership added: “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.”
The transaction is expected to close in Q2 2017 after customary due diligence.